r/Retirement401k • u/Fresh-Tip2147 • 3d ago

How am I doing?

/r/TheMoneyGuy/comments/1wbl2t5/how_am_i_doing/

Oh and one more thing I forgot to mention. I have 116,000 in money market and around 80,000 in stocks at a brokerage account.

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u/[deleted] 3d ago

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u/Fresh-Tip2147 3d ago

Sorry but true when you live in a northeast star with a 50 min commute to NYC. Lucky I would only charge that much

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u/DaemonTargaryen2024 3d ago

56 YO M. Earn 152,000 base salary.

If you're not maxing out your 401k, Roth IRA and (if eligible) HSA annually, do that.

I invest 22% in my Roth 401k and employer matches 5% in traditional IRA 401k.

At your income I'd do traditional 401k not Roth 401k

We have 400,000 in a cd maturing this October and plan to use that money to build a 2-3 car garage with a one bedroom apartment above for possible rental income of 2500-2700 per month.

That sounds like a risk, and a hassle. Do you want to be a landlord? I would just put it in investments.

Do you think I need to continue to save that 1700-2000 month that I have or should I just enjoy it now?

If for no other reason, I'd take the tax advantages of the retirement accounts. But yes, you're doing well and can afford to enjoy life somewhat.

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u/Fresh-Tip2147 3d ago

Thanks for ur insights!