[USER]

I’m 29 years old.

Roth IRA: $48,000 (22,000 in 2021 post)

401k: $130,000k (45,000 in 2021)

HSA: $6000

HYSA: $53,000

2 classic cars (worth around 80kcombined with no payments of course) just a hobby.

I don’t spend much on them since I’m trying to eye a duplex in the Bay Area.

Income is 150k.

Distance I drive is 100 miles 4 days a week. I’m looking into a commuter car that’ll get me over the 20mpg average I’m getting now (500-600) a month on gas.

Got engaged and wedding looking to be in Oct 2025.

Any advice on what to focus on? Should I be aggressively saving more for a home? Should I throw some of the HYSA money in a brokerage? How much?

I currently rent a 2 bed 2 bath duplex for 3000(1800, 1200 split between us income based because I feel it’s most fair to share the financial burden).

I live in the Bay Area so cost of living is high so I’m trying my best….

Thank you!

[Cassie]

I’m also going to say you’re too risk averse for your age.

A hysa is only going to get like 5% tops a year, while my brokerage account is up 55% over the past few months.

Also a prenup is a great idea no matter how much you both make.

[Jorge]

Nice. I have 6k in my ira. What do you buy?

You drive too much for a ice, get a ev

[Kati]

My husband had a job where he had to commute a lot and so when we had to replace his commuter car, we got a Kia EV6.

We were able to negotiate that the dealership buy and install our EV charger (and his work has chargers too).

We went from spending 600 dollars a month on gas to 35 dollars a month (from driving our second car) and our electric bill went up maybe 10 dollars a month.

[Jennifer]

I live in the Bay Area too, and I love my Tesla M3 as a commuter. Much cheaper than gas!

[Cassie]

I’d definitely buy an EV. Model 3 with tax credits is a good deal and if you drive in traffic it’s so worth it.

We only spend like 28 a month on charging at home 100%

[Jakob]

Motorcycles are big in Cali because of traffic and legal lane filtering in traffic.

I get around 50 mpg on each of my bikes.

Might be worth looking into

[Damian]

Sure, let’s organize your plan according to the Baby Steps framework:
### Baby Step 1: Save $1,000 for Your Starter Emergency Fund
– You’ve already surpassed this step with your current savings.

### Baby Step 2: Pay Off All Debt (Except the House) Using the Debt Snowball

– You don’t have any debt outside of your mortgage, so you’re good here.

### Baby Step 3: Save 3-6 Months of Expenses in a Fully Funded Emergency Fund

– Ensure your emergency fund in the HYSA covers 6 months of expenses, especially given the high cost of living in the Bay Area.

### Baby Step 4: Invest 15% of Your Household Income in Retirement
– You’re already doing well with your Roth IRA and 401k.

Continue to max out your Roth IRA and contribute at least 15% of your income to retirement accounts.

### Baby Step 5: Save for Your Children’s College Fund
– If you have children or plan to have them, consider starting or contributing to a 529 college savings plan.

### Baby Step 6: Pay Off Your Home Early
– Once you have your emergency fund and retirement savings on track, you can start making additional payments on your mortgage.

### Baby Step 7: Build Wealth and Give
– This is where you can start focusing on wealth-building goals and charitable giving.

### Specific Steps for Your Situation
1. **Emergency Fund (Baby Step 3)**

– Confirm your HYSA has at least 6 months of living expenses.
2. **Wedding Fund**

– Start a dedicated savings account for wedding expenses and allocate funds regularly.

3. **Down Payment for Duplex**

– Save aggressively in your HYSA for the down payment on a duplex.
4. **Brokerage Account**

– If your emergency fund is fully funded, consider investing 10-15% of your HYSA in a brokerage account for moderate growth.
5. **Commuter Car**

– Research and purchase a more fuel-efficient vehicle to save on monthly gas expenses.
6. **Retirement Savings (Baby Step 4)**

– Continue maxing out your Roth IRA and contributing to your 401k. Ensure you’re investing at least 15% of your income.

7. **Classic Cars**

– Keep spending on your hobby in check while prioritizing your financial goals.

By following these organized steps, you’ll be well on your way to achieving your financial goals while maintaining a solid foundation for the future.

Keep up the great work!

[Author]

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