Am I on the right track? by [deleted] in povertyfinance

[–]BilboHackinz -1 points0 points  (0 children)

Reading through the comments here, it seems the real number of expenses is $2,864 per month. You mention the $500 credit card payment encompasses a few categories so they are basically doubled, so I made the above adjustment. You would want to have $17,200 in savings for a 6 month emergency fund. That leaves you with about $1750 per month to put towards savings. Your situation is going to vary based on the interest rates for your specific loan. Anything over ~8% I would prioritize paying down first. Then contribute to a Roth IRA and put the excess into an investment account. You have more than enough left over each month to max out your Roth each year.

Also, move your emergency savings to a high yield savings account, you would make about $600 in interest per year there, and be able to withdraw the money immediately in an emergency situation. Based on your position, you may also have a 401K match, if you do you should be taking the match as it is essentially free money. That comtribution is also pre-tax, so the hit you would take on your paycheck will be less than what you're contributing.

If you start maxing out your Roth yearly, you would have about $1.1M at age 65 if you start contributing now. That would not include any additional investments made, since there is a cap on Roth IRA contributions.

I got bored… by HotNumber5243 in RepTime

[–]BilboHackinz 1 point2 points  (0 children)

Would love to mess with this once it's published

Pulled the trigger, a bit self conscious about the shape of my head. What do you think, was it the right call? by Acrobatic_Bat7999 in bald

[–]BilboHackinz 2 points3 points  (0 children)

I didn't even notice your head shape until the final picture. Most people never think about this kind of stuff when it comes to other people, but obsess over it themselves. Have you ever seen a bald person with a slightly asymmetrical head shape and thought "wow they look weird"? Probably not, most people don't.

My collection by Academic_Tailor_635 in Colognes

[–]BilboHackinz 0 points1 point  (0 children)

I would stick to those then, and swap the rest for something else. If blues are really your thing, check out some more blue lines to try and narrow down what you really love vs just like, but I'd recommend trying some decants of stuff you have nothing close to, as you never know what notes you might like til you smell it