u/RevolutionaryGap7180

Hello, I am 21(m) and have been heavily invested in learning how to best handle my finances. I currently have about $100k liquid which I know is bad to have that much just sitting there. I have had a full time job since I was 16 and have worked very hard and saved a lot. My car is paid off, my rent portion is only $350 a month and other expenses equal about $650. With that being said I am able to save a lot as I bring in about $3,000-$4,000 a month ( I work in the restaurant industry so it varies). I have about $15,000 in my Roth IRA and I plan to max this out every year until retirement. I just became eligible to open up a 401k at my job and I contribute 7%.

My thoughts were to put $60,000 into an HYSA for a down payment on a house in the next couple years and put the remaining $40,000 into VOO in a traditional brokerage. I understand many people would recommend making my 401k contribution higher. Since I DCA my Roth IRA and with my contribution to my 401k it comes out to about $1,000 a month. I feel like that is a good amount to be contributing to retirement. With that being said, I wanted to put some of that money into a traditional brokerage to potentially make some extra money in the next 5-10 years. Worth noting, I work full time, but I am a part time student as well. With that in mind, I will achieve my bachelors degree in accounting in about 2 years and income will vary during that period due to internships and job searching etc. Any input or recommendations are very much appreciated!

Hello, as the title states I’m wondering if I should do a traditional 401k or Roth 401k. My employer offers both with a 3% match. I currently am contributing 5% to a traditional 401k. I am currently 21 and work in the service industry and I’m in school part time. So, I expect my income will increase somewhat in the near future. I was possibly thinking about just adding a 5% Roth 401k contribution and still contribute 5% to a traditional and have both. I like the idea of having the tax advantage now of a traditional 401k.

Hello, I am 21 years of age and a part time student, I have a 1 year CD that matures next month which will leave me with about $100,000 liquid. I have maxed my Roth IRA out for this year already and I contribute 5% to my 401k.

My Question is, what should I do with this $100,000? Should I put it into a traditional brokerage in something like VOO? Should I split it and put some in a HYSA? I would like to buy a house in about 5-6 years and I have about 3 more years of school left. I get some help with tuition from grants, but would like to not get a loan.