23M NZ how would you optimise this financial setup?
Hey everyone,
I know I’m in a pretty fortunate position for my age and I’m genuinely grateful for it, but I’m trying to figure out how to better leverage my income and set myself up long term rather than just earning more and spending more.
I’m 23M living in Auckland.
Last year I earned about $98k, and this year I’m tracking somewhere between $120k–$150k depending on how the year goes.
Current setup:
- 10% into company stock program
- 3.5% KiwiSaver
- $390/month into Sharesies
- Usually saving around $1,500–$2,000/month cash
Expenses/debt:
- No student loan
- No car payment
- No credit card debt
- Rent is about $1,100/month
- Insurance around $150/month
Current balances:
- KiwiSaver: ~$13k
- Company stock: ~$31k
- Sharesies: ~$10k
- Cash savings: ~$13k
I do spend a fair bit on eating out/travel/social stuff, which is probably the main area I could tighten up if needed.
if you were in my position at 23, what would you focus on next?
Would you prioritise:
- building a larger cash position
- increasing ETF investing
- property deposit
- reducing concentration in company stock
- increasing KiwiSaver contributions
- something else entirely? Stop saving and have a massive trip lol?
Again understand I’m in a fortunate spot just wanting to seek advice from people who may be in the same position or once was.