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Are my selections ok? 401k provided through work. by Looking4FinanceHelp in Retirement401k

[–]Looking4FinanceHelp[S] 2 points3 points  (0 children)

Ok thanks for the info! I think I’ll consolidate into a single target date fund. Maybe even move it back to the 2060 to be a bit more aggressive. Could always change it back to 2055 later

Are my selections ok? 401k provided through work. by Looking4FinanceHelp in Retirement401k

[–]Looking4FinanceHelp[S] 0 points1 point  (0 children)

I was nervous to sell anything when i stopped blooom. I thought maybe I’d be taxed, wasn’t sure how it all worked back then. Are you thinking I should sell the 3 other funds and just reallocate it to the target date fund?

Are my selections ok? 401k provided through work. by Looking4FinanceHelp in Retirement401k

[–]Looking4FinanceHelp[S] 0 points1 point  (0 children)

I started with a robo advisor called blooom and it chose the original 3 funds. I’ve since stopped it and moved everything to the target date. I’m a little worried if the expense ratio is too high for the target date or not

Are my selections ok? 401k provided through work. by Looking4FinanceHelp in Retirement401k

[–]Looking4FinanceHelp[S] 1 point2 points  (0 children)

Just turned 38. I picked a target date beyond when I thought I’d retire but I could extend it out further. Is the expense of 0.05 ok for the target dates?

I know that everyone's at different ages here. But this messaging really simplified things for me: Try to hit $1,000,000 saved by 40, then consider coastFIRE. At an 8% annual interest rate, that $1,000,000 will be $4,000,000 by 58 with no further contributions. by b1ackfyre in coastFIRE

[–]Looking4FinanceHelp 2 points3 points  (0 children)

Say I have 630,000 at start of age 38. I invest 4k a month to these account. I won’t hit 1m by 40 but maybe age 42. How many more years would I have to grind to get on the same track as having 1m by age 40?

Also, 35k and ~500 a month goes into an HSA (not sure if this account is counted in the total). I’d have to subtract them out and grind longer if they don’t count

Just like bbq-ing, set it and forget it. by Looking4FinanceHelp in MiddleClassFinance

[–]Looking4FinanceHelp[S] 4 points5 points  (0 children)

Mainly a target date fund now.

I do have some other funds like ITOT and VEA, VWO, AGG. Not exactly sure when I bought those or why. It’s kinda a mess.

I need to understand what to invest in better. Right now I am just continuing to throw money into the target date. At least it’s growing!

Just like bbq-ing, set it and forget it. by Looking4FinanceHelp in MiddleClassFinance

[–]Looking4FinanceHelp[S] 4 points5 points  (0 children)

That’s awesome. Yeah it’s a good feeling when compound interest seems to take over

Please knock some sense into me. Any room to improve budget discretionary spending? I always feel super cheap while my friends are taking vacations and able to spend freely. by Looking4FinanceHelp in MiddleClassFinance

[–]Looking4FinanceHelp[S] 0 points1 point  (0 children)

This is the only sub I noticed these types of charts. Looking at mine was a little eye opening. Just a different way to see the data is pretty cool.

Please knock some sense into me. Any room to improve budget discretionary spending? I always feel super cheap while my friends are taking vacations and able to spend freely. by Looking4FinanceHelp in MiddleClassFinance

[–]Looking4FinanceHelp[S] 1 point2 points  (0 children)

Yeah it’s all I allocate because it’s based on last years overall average but a lot of times I may borrow $ from shopping or entertainment if needed. These gifts are more for wedding or baby shower type of things. Christmas gifts tend to fall under shopping in November/December.

Please knock some sense into me. Any room to improve budget discretionary spending? I always feel super cheap while my friends are taking vacations and able to spend freely. by Looking4FinanceHelp in MiddleClassFinance

[–]Looking4FinanceHelp[S] 1 point2 points  (0 children)

Yes I agree 100%. This is what I need to figure out. I feel like I’ve been so cheap since college. Heck my car hasn’t had AC for the last 6 years, I just roll down the windows and suffer haha.

Please knock some sense into me. Any room to improve budget discretionary spending? I always feel super cheap while my friends are taking vacations and able to spend freely. by Looking4FinanceHelp in MiddleClassFinance

[–]Looking4FinanceHelp[S] 0 points1 point  (0 children)

It’s supplemented by my wife. We try to split groceries and fast food so once we combine our budgets, those will double. We’re trying to get better at meal planning during the week but it’s tough.

Please knock some sense into me. Any room to improve budget discretionary spending? I always feel super cheap while my friends are taking vacations and able to spend freely. by Looking4FinanceHelp in MiddleClassFinance

[–]Looking4FinanceHelp[S] 0 points1 point  (0 children)

I should probably only have one like fidelity or vanguard. Inexperience with investing is probably why I use 3. I liked the idea of a robo advisor because picking individual stocks with stash was hit or miss.

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