[USER]

Hi. I’ll be 30 soon. Just wanted some advice on what I can should do and how I’m doing so far. I feel like I should have much more saved and invested by now.

Started working at 25 making $110k a year. Now 29 at $140k a year. I get about $4k bi weekly, +/- $200.

$32k saved in cash. Loaned $45k to a friend and they are paying me back $2k a month.

About $20k left on that loan.
$330k in Fidelity. $20k individual, $20k Roth. The rest in regular retirement accounts through my employers.
No debt.

Live with my parents (cultural reasons) and my only real expense is my gym for $150 a month.

The rest is just my life, gas, food, shopping, travel, groceries, gift, donations etc.

I know I’m doing well compared to most my age, but I feel like I am spending too much and should be doing so much better given my pretty easy financial situation.

[Sarah]

Depends on your short and long term goals. Life should be enjoyed now too, which I think gets lost in the messaging of these sites.

You’re doing well regardless of what bills you do or don’t have.

[Brian]

Hard to say without knowing how much you spend on all the misc items you listed.

[Tracy]

I think you’re doing well. My only caution would be to not go so heavy in retirement funds that you don’t have a good amount of accessible money/investments outside of that.

Speaking from personal experience – hoping to retire early but 90% of my wealth is in retirement funds.

So, I have to change my savings strategy aggressively now for the next few years.

Wish I had siphoned off more towards other investments sooner although I do like the tax advantage.

[Jenny]

What are your annual expenses? That’s the key metric for FI. Great job in saving. It looks like most of your after tax money went to savings and investing. You are doing great.

This is the expensive stage of life- wedding rings, wedding, house down payment, etc.

Don’t forget to have some fun, go on trips with friends and create some memories.

[Sarah]

It sounds like you’re doing quite well. That said, read “The Simple Path to Wealth” and “Total Money Makeover” if you haven’t already.

[Amanda]

What are you invested in? What are your annual returns. This seems low, but can’t really tell without knowing if you have been a consistent saver or what.

Do you have a regular investment schedule or any sort of plan or are you just winging it?

[Author]

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