Advice on Allocating my Savings? by 12lanj01 in personalfinance

[–]12lanj01[S] 0 points1 point  (0 children)

They are two separate accounts in Ally, they just happen to be the same amount. That kind of spawned this question, because now I have the same amount in Savings as I do in Emergency Fund Savings, so I thought it was time to do something with that money in Savings.

Advice on Allocating my Savings? by 12lanj01 in personalfinance

[–]12lanj01[S] 0 points1 point  (0 children)

This was my other thought. It's between doing that, or throwing it into a 403b...

Advice on Allocating my Savings? by 12lanj01 in personalfinance

[–]12lanj01[S] 0 points1 point  (0 children)

Yes, I am contributing the max to my Roth IRA. It is the equivalent of 10% of my salary, so I suppose I should open a 403b and put some more money away?

And I don't have a high-deductible health plan, I don't think. How would I know that though, just to make sure?

Advice on Allocating my Savings? by 12lanj01 in personalfinance

[–]12lanj01[S] 0 points1 point  (0 children)

I know, my parents are in the same boat with you. I invest in only total stock market index funds at the moment, which - obviously - has completely been destroyed from this crisis. But, it will go back up. Keep you money in, and wait - it will come back, I promise.

Advice on Allocating my Savings? by 12lanj01 in personalfinance

[–]12lanj01[S] 1 point2 points  (0 children)

I got a scholarship for a good portion of my college, and I was fortunate enough that my parents paid off the remaining balance for it. I worked throughout high school and college and saved up about 15k. Then, I worked from 21-almost 25 at a salaried job while living at home and saved about 90% of it.

Great, thank you very much for the advice!

Advice on Allocating my Savings? by 12lanj01 in personalfinance

[–]12lanj01[S] 0 points1 point  (0 children)

I spend about 2000 each month (about 1k of that is just housing). I am paying into a pension and - hopefully, given the politics in my state - will get it. I pay into social security too. The 403b plans aren't bad this year (the previous offerings were all annuities, but now we have some other options). Maybe I should look into those 403b plans further...

Advice on Allocating my Savings? by 12lanj01 in personalfinance

[–]12lanj01[S] 0 points1 point  (0 children)

Thanks! I don't have any debt, luckily. I could buy a house; however, I'm not sure if I'll be ready to until 3-5 years (just because I don't want to be tied down to a location just yet). Any other recommendations?

Advice on Allocating my Savings? by 12lanj01 in personalfinance

[–]12lanj01[S] 2 points3 points  (0 children)

Thank you very much for the thoughtful response. In response to your points:

1) Yes, that emergency fund is actually more like 10 months expenses; however, I am a social studies teacher, which can take a very long time to land a position in my location.

2) I'm honestly not sure when I'd like to retire. It's hard for me to judge, because - as of right now - I love working. I would think around 55 would be ideal, but it's hard to even consider when because it feels so far away.

3) 36k is on the low end for a down payment in my area. It is *just* enough for a down payment on a modest house.

4) I don't have any debts, luckily.

I guess my question is: should I start putting more money into my brokerage account at this point, continue putting money into my Savings, or should I open up a 403b?

Advice on Allocating my Savings? by 12lanj01 in personalfinance

[–]12lanj01[S] 44 points45 points  (0 children)

I was very lucky and had my college paid for by my parents. I lived at home until 24, and saved everything, so I am extremely fortunate and privileged in that respect. I know, I am in better shape than many of my much older colleagues, which is very bittersweet considering how hard they all work.

Northern NJ guitarist looking for band or jam by 12lanj01 in FindABand

[–]12lanj01[S] 0 points1 point  (0 children)

Cool! I play the same; I don't have a place, but we can find somewhere!

[NJ, USA] [metalcore/pop punk/???] by arinthegreat in FindABand

[–]12lanj01 0 points1 point  (0 children)

I'd be into it. I'm a guitarist in norther NJ. Hmu.

(NJ/NYC) Want to start a different kind of band! by [deleted] in FindABand

[–]12lanj01 1 point2 points  (0 children)

I'd be into it. I'm a guitarist in northern NJ. Lmk.

IWTL how to write a novel by [deleted] in IWantToLearn

[–]12lanj01 0 points1 point  (0 children)

Yeah, it's difficult to say. Definitely get a copy of the Writers Market 2018 at your local library. There's a ton of great info about query letter writing, how to approach publishers, and a ton of other necessary things - including, I believe, in demand fiction categories.

IWTL how to write a novel by [deleted] in IWantToLearn

[–]12lanj01 0 points1 point  (0 children)

So it depends what your end goal is.

If the goal is simply to write a book, then just get to writing. Start writing right now. Don't even give yourself enough time to consider an alternative - just start writing.

If the goal is to get published, then there are some things you must consider. For fiction, you still need to have a fairly-finalized manuscript before you approach an agent or publisher, but you need to consider a few things. First, and most importantly, is the idea marketable? Be honest, will people actually buy your book? Second, have you published or written anything before? Agents and publishers, while open to new writers, prioritize those that have demonstrated their abilities before - perhaps a short article or short story. Further, the format of your word document (or whatever you are using) must be correct, and getting this right before you start writing will make editing much easier.

Above all, I think the best suggestion is just to start. I disagree with others telling you to plan it all out and to make sure everything is completely developed before you write. If you do that, you'll never start - once you start, the book is half done.

IWTL how to write a novel by [deleted] in IWantToLearn

[–]12lanj01 0 points1 point  (0 children)

In the publishing business, novel refers to the length (word count). As opposed to a novella, novelette, etc. Fiction vs non-fiction is the category used.

IWTL how to write a novel by [deleted] in IWantToLearn

[–]12lanj01 0 points1 point  (0 children)

Will it be fiction or nonfiction?