I have a good problem to have. I currently save 1650 per month into TSP and along with that 1000 per month into a brokerage account that's invested in the market for a future house downpayment along with maxing my Roth IRA contributions on the first eligible day of the calendar year. My question is if you would modify those amounts at all? I'm 30 years old, e5 and single, no dependents. For additional context, I have 130k saved in retirements accounts and 100k saved in my brokerage account.
What are your thoughts or pieces of wisdom?
Posted by AD4LYFE
3 Comments
What are your financial goals? Are you on track with them? Is there anything you’d rather be saving for or spending on?
You’re crushing it. You’re contributing aggressively to the TSP while maxing your Roth IRA. You could contribute more to the TSP, but you’d likely have to sacrifice saving for a home purchase – so that doesn’t really make sense for your goals. Depending on your time horizon for the home purchase, just be sure to balance how much risk you’re willing to tolerate with the brokerage account. There are still HYSA’s out there around 5%, that’s pretty solid to avoid market volatility with your down payment money if that purchase is in the near future. Keep doing what you’re doing with savings, go crush your job and make E6.
Do you have your bachelors already? I’d probably stay on track with your current savings/investing rate and prepare either an OCS or WOCS packet (or whatever equivalent for your branch).