Hi, I am trying to figure out the best path forward for my situation. I am 27, and I think am finally at a good place financially. For me, that means: I have just paid off my student loans from grad school, I have no excess CC debt or other debt, I have 12k saved in an emergency fund, and I have about 40k saved between my HYSA, IRA, 401k, and brokerage account. I've never been in this place before where I've not had excess debts, have my emergency fund saved, etc. I'm a little lost about the best way to proceed from here with my excess income given my future plans:
My partner and I are hoping to buy a house within the next 10 years, but first we will be moving to HCOL city for his grad school. For this reason, I'm wondering if it's smart to prioritize saving in a way that is more liquid, as opposed to prioritizing putting more of my money into my retirement accounts?
Also, this is not "smart" but my partner and I would really love to take a vacation together, since we haven't gotten to do that and have been living pretty frugally.
My monthly income after tax and current 401k contributions (which I contribute enough to get my full match to) is 5k, and I spend around 3k on my life. With the remaining 2k approximately, do you have advice on how to prioritize beefing up retirement investments & balancing my desire for nearer term big expenses (home, a trip)
I am happy to provide more info on my financials if that helps to make informed recommendations!
original posted by Turbulent-Cost1951 to r/personalfinance on Mon, 15 Apr 2024 15:22:52 GMT.