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SVTPerformance's Chain of Restaurants
Road Side Pub
Any Dave Ramsey fans in here or financial gurus? Need advice..
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<blockquote data-quote="04YellowGT" data-source="post: 16136362" data-attributes="member: 35332"><p>It sounds like you are doing good. I would definitely get an ROTH IRA started ASAP. One nice thing about the ROTH IRAs is you can withdraw whatever you put in with no penalty, you just can't touch any of your gains. As for the car, if it is paid off I would keep it. </p><p></p><p>For reference they say you should have 1X your salary by 30 and 2X your salary by 35. I'll be 30 next month and I'm just shy of 2X my salary. My wife is way behind but shes doing great now. She just started saving about a year ago and has about 10k tucked away for retirement</p><p></p><p></p><p>For reference I have a 401K that I put 9% into plus a company match of 4%. I also max my ROTH IRA every year. FYI this year they increased the max from $5500 to $6000. My wife doesn't have a company match so she just maxes her Roth IRA every year and saves a little extra. The only debt we have is our home and I owe about 6k on my truck that will be paid off this year. I have about 6 months in the bank and my wife has about 4 months.</p></blockquote><p></p>
[QUOTE="04YellowGT, post: 16136362, member: 35332"] It sounds like you are doing good. I would definitely get an ROTH IRA started ASAP. One nice thing about the ROTH IRAs is you can withdraw whatever you put in with no penalty, you just can't touch any of your gains. As for the car, if it is paid off I would keep it. For reference they say you should have 1X your salary by 30 and 2X your salary by 35. I'll be 30 next month and I'm just shy of 2X my salary. My wife is way behind but shes doing great now. She just started saving about a year ago and has about 10k tucked away for retirement For reference I have a 401K that I put 9% into plus a company match of 4%. I also max my ROTH IRA every year. FYI this year they increased the max from $5500 to $6000. My wife doesn't have a company match so she just maxes her Roth IRA every year and saves a little extra. The only debt we have is our home and I owe about 6k on my truck that will be paid off this year. I have about 6 months in the bank and my wife has about 4 months. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Any Dave Ramsey fans in here or financial gurus? Need advice..
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