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>19 y/o and
>lucked out with a pretty nice gov job
>40k + full benefits
I'm starting to realize sitting on my savings in cash in an account with 0.01% interest a year isn't doing me shit. I wanting to set aside $300 a month into a fund which I think from everything I've been hearing should be set up of about 30% bonds and the rest cheap index funds. Can anyone speak to this? How do I turn this into as much money as possible in the long run?
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start putting a good amount of cash per year into a Roth IRA. It will amount to quite a bit over time.
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>>1837119
I already have a 401k. I can have both and still be tax exempt?
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>>1837119
This is shit advice. Why should this guy start thinking about retirement when he doesn't even have a career yet??
If you wanna set aside $300, then I think you should spend it on something that grows your career prospects. I currently set aside about $600 a month for flight training that can provide a back up career plan for me (as a CFI or airline pilot) if my engineering career doesn't work out.
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>>1837112
Get a small bad weather fund and then invest in riskier prospects because you are young and as such have a higher tolerance for risk
Do you research and you'll be golden.
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Bitcoin or gamble it in the stock market, financials will do well over the next 4 years. Try BAC.B warrants for maximum profit.
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>>1837287
because its barely any money to put aside and if he starts now he will have close to 2 million by age 65
You faggots are the reason those retirement commercials exist. WHEN DID YOU START SAVNG?
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>>1837308
No he's not making it to $2m if his career doesn't work out. I'll start saving when I actually have a career that pays over $100k a year. That's a risk I'm willing to take.
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>>1837312
You are retarded, enjoy your 'retirement'
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>>1837312
>>1837312
No matter the position or status of your career its always smart to invest in retirement. If you don't feel like thing it all up in a 401k then split your saving in half. Either way, something is better than nothing. Your gains go up exponentially the more you save.
On another note... If you are just going to drop money in a savings account, try one of the many online banks that offer 1.05℅
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>>1837112
what job
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>>1839289
Google online savings accouts
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Should I max out a Roth IRA if I won't be able to contribute to it later? I have the money now but am quitting my job to go back to school soon, so should hold onto a decent chunk of money for the time being.
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