30 Year Old Should Have Started Sooner
30 year old who really should have started planning sooner. No loans or debt anymore so I am a clean slate. Pretty healthy savings, a new Roth and a decent 401K through work. Looking for some guidance in my approach to all of this...
I recently opened up a HYSA with an initial balance of $100k and a 3.1% APY I get paid weekly and 40%-50% is going to go directly into that account.
At the beginning of every year I am going to be putting the max contribution of $7,500 into the Roth to make sure I have as much time in the market as possible for that money. That deposit is going to come directly from the HYSA. Currently the account is 80% FDKVX / 20% FNILX.
My 401K is doing pretty good, last year I had a ~27% ROR. This is split up 26% FDEWX / 52% SP500 / 22% NRGSX. Standard 5% company match but I am putting in 14% per paycheck. This currently has about $42k in it.
After my investments and savings I have a little bit to play with. Expenses take up the majority of the leftover between insurance, rent, gas and tolls and utilities. So I have about $12k a year to spend freely. Anything that is leftover of that $12k I put into a separate account that I have as rainy day fund which currently has $30k in it since I started it in 2022.
I do have an HSA through my health insurance and have been thinking about playing with that (leaving my deductible +25% in there as a minimum) as another avenue to cover myself in the future.
I feel like I have struck a good balance and have a good plan. But, I am admittedly a complete novice here with little exposure to investing and no guidance from family/friends on how to save. I am hoping my big expenses in the next 5-years will be on the low side, I recently purchased a new car and am not looking to buy property unless I find a VERY good deal. Trying to live modestly and not go crazy on spending so that I am set up in the future, but don't want to be miserable and not enjoy my life.