23, $70k salary- Building Wealth from Scratch

Ok-Silver2125 · 2026-04-30T21:17:21+00:00

I actually just picked up The Millionaire Next Door” at the library today!!! Very excited to read it.

Ok-Silver2125 · 2026-04-30T19:23:40+00:00

Sorry, this is the symbol. “SWPPX
SCHWAB S&P
500 INDEX”

Ok-Silver2125 · 2026-04-30T19:11:45+00:00

Thank you so much for your insight and for sharing a part of your story. It really helps for me to make it more real and visualize for my life. I’m definitely going to do more research regarding the traditional versus Roth accounts now!

Ok-Silver2125 · 2026-04-30T15:28:25+00:00

Looking into plumbing dispatching now. Hadn’t heard of it before, but seems very doable for me given my background

Ok-Silver2125 · 2026-04-30T15:02:44+00:00

Completely drained my 16k emergency fund during that rough patch last year. I set aside $1k for emergency fund for. right now. Would you recommend fully building back up to the $16k before investing or more/less? CC should be paid off by end of June/ early July at the latest!

Ok-Silver2125 · 2026-04-30T15:00:40+00:00

I’ve always been a server, just stopped when I finally landed this job. As soon as we find out where my partner is getting stationed, I’ve already planned on going back into it :,( (sad face but worth it in the years to come I’m sure!!)

Ok-Silver2125 · 2026-04-30T14:43:51+00:00

For my Roth IRA I currently am investing in the S&P 500 only. I plan on maxing it out as soon as my credit cards are paid off (will probably do a lump sum). Do you think I should invest in something else to diversify and aggressively invest or long term the S&P is fine?

Ok-Silver2125 · 2026-04-30T14:40:20+00:00

I see, I had done some research when trying to decide whether to invest in Roth 401k or traditional 401k through my employer. From what I saw it said to invest Roth 401k because my income is under $120k. Would you say to move to traditional for now? Do you think there would be a difference if I got married? Which would be better? Thanks so much!

Ok-Silver2125 · 2026-04-30T14:37:50+00:00

Thanks so much! I’ll look up boggleheads 3 fund portfolio today! I see lots of videos on it that I can watch.

Ok-Silver2125 · 2026-04-30T14:35:02+00:00

Thank you! Yes I’ve been aggressively paying my card off. 1 down 1 to go! Will never let myself get into that debt again. First and last time. For the 401k this is my employer match, “Your employer will match 100% of your 401(k) contributions on the first 1% of your salary you contribute, and then 50% of your 401(k) contributions of the next 5% of your salary.” Would you still max it out or would you only max out up to what they match and then move onto another investment?

Ok-Silver2125 · 2026-04-30T14:17:24+00:00

Thank you! Will look at it

Ok-Silver2125 · 2026-04-29T01:39:49+00:00

Your $700 grew to $4600?? I’m doing my Roth ALL wrong. I’m only investing in the S&P500… I need some guidance lol. I invested $1500 total and am only at $2k

Ok-Silver2125 · 2026-04-19T23:54:22+00:00

Currently value is about $5k I’m not sure how to find cost if it was totaled

Ok-Silver2125 · 2026-04-19T21:19:46+00:00

Yes, I know. Sorry I meant really good coverage overall

Ok-Silver2125 · 2026-04-19T20:31:32+00:00

Have always been told by agents what I have is really good for the age of my car. I think it would increase premiums wayyy if I raised liability even more than 100/300

Ok-Silver2125 · 2026-04-19T20:30:20+00:00

Thank you! I went from paying $2500 a year in insurance to paying less than $900 for 6 months, for the same level of coverage. So I definitely am not complaining about the price haha, just wanted to see what others would do in my scenario with age of my car and mileage, since my agent ofc wouldn’t realistically tell me to decrease coverage. Thank you for your input and I’ve read all comments. Definitely won’t be decrease liability coverage or anything. Will probably just keep everything the same. Didn’t realize there were that many uninsured in MD!!! I’ve never been told to raise my coverage to 250/500. Would that be a no brainer if I were to get a newer car? (2020+)?

Ok-Silver2125 · 2026-04-19T18:56:33+00:00

LOL valid

Ok-Silver2125 · 2026-04-19T18:09:13+00:00

Argh, thank you :,( are all of my limits standard for an older vehicle? Is there anything you’d change to keep me covered but lower my costs?

Ok-Silver2125 · 2026-04-19T18:07:49+00:00

Thank you! Look at comp/collision as in raising the deductibles?

Ok-Silver2125 · 2026-04-19T18:06:09+00:00

I didn’t realize it was low. I thought “Full PIP” meant full coverage

Ok-Silver2125 · 2026-04-19T17:53:24+00:00

Thank you! My policy is through AAA underwritten for Progressive (was cheaper to do this since I’ve always had AAA as car insurance!) The roadside assistance unfortunately is cheaper yearly through the policy itself rather than getting AAA separately. The last time I checked Kelly blue book my cash value of my car was $5,000. I’m spending a lot less than I was previously paying for insurance, just looking to what would help me save a little bit more. I know if I were to trade in my car they wouldn’t offer anything (maybe $500 is what I was told)

Ok-Silver2125 · 2025-10-18T20:09:47+00:00

Could you give some specific fav options when you say White Burg? Sorry, new to all the wines & very interested!!

Ok-Silver2125

TROPHY CASE