Hi all! I was curious to hear you fine people thoughts on what I should be doing with my finances at this point to help accelerate my retirement funds and long term wealth plan.
Here’s what my current monthly spends looks like and a little about me to help for context:
32 year old, live with my significant other, and we do plan to get married in 2025.
income is $85k base + commission around $15-40k depending on the year as I’m in sales
cost of living: fairly low, I’m in Des Moines, IA
debts: $188k (mortgage), $20k (vehicle just purchased), 18k in student loans
Savings: $30k, checking: $4k
retirement: $40k in 401k, and $5k in Roth IRA
monthly spend total: about $3500 per month (including bills, debts, food, and fun)
My question is, what should I do with that $30k in my savings. I feel good about having at least 6 months+ saved for if I lose my job, and a little nest for emergencies such as house. However I just feel like I’m losing out due to inflation but not sure what I should be doing?
Halp?
original posted by One_Option_27 to r/personalfinance on Sun, 17 Mar 2024 11:17:27 GMT.