Guidance

[gina]

Hi just trying to get some input in regards to investment ideas, currently E-6 (8 years AD) contributing 22% to TSP (80%C fund, 10% S fund, 10% I fund) which is currently sitting at 81k. I recently sold some crypto coins and also received tax return and FASFA funds which is leaving me with about 32k of liquidity I am unsure what to do with. Currently have about 62k in Robinhood (VOO, TSLA, AMZN, VTI, QQQ, SPY, TGT, ECT) and another 48K in a certificate (4.9% APY). Unsure of which option I should take. Me and spouse have no credit card debt, vehicle loan, or student debt. I also have a 5k emergency fund.

Option 1: Put excess funds into the AMEX HYSA account and increase TSP contributions to reach the max. Dip into HYSA when necessary. I have yet to reach the fiscal cap

Option 2: Dump the funds into VOO or another ETF

Option 3: Put all into another HYSA or certificate.

Thank you for any information, currently not looking into purchasing a house because I am overseas and plan to do another overseas command after this one.

 

[holywalk]

@gina No Roth IRA? That's where it needs to go. Max out your and your wife's for 2023 and 2024.

 

[csf]

@gina Fully fund Roth IRAs for you and your wife. You can still contribute for 2023. Maxing out 2023 and 2024 will be $13,500 each.

Quit dicking around with all these different funds, individual stocks, and crypto. VTSAX and just leave it be. You're not going to beat the market, and there is a ton of overlap in what you're holding anyway so just go broad market and chill.

 

[wapitzer]

@csf Dividends are the reason for multiple ETF ands stocks…NEVER put your eggs in one basket regarding investing

 

[csf]

@wapitzer What? Broad and total market funds hold dividend paying stocks.

 

[wapitzer]

@gina My advice….add a little more to the emergency fund & spread out between VOO & HYSA

 

[gina]

Currently No Roth IRA, my wife is currently a full time student. I think I tried to start a vanguard IRA but never finished the process. I know it's like 7.5k is the max return.

 

[holywalk]

@gina

I know it's like 7.5k is the max return.

I don't know what that means. 6.5 is the max you can contribute for 2023, and 7k for 2024. Your wife being a student means nothing.

 

[negasi]

@gina Does FAFSA give grants? I thought it was just loans