Currently I’m 22, making 65k a year. It’s roughly 54000 post tax. My company does not offer a 401k or hsa, so I opened up a Roth IRA and a taxable brokerage account. I’m living with my parents so my expenses are extremely low. I bring in ~4500 each month, half goes to savings and 33% goes to investments. I will be maxing out my Roth next month so for the rest of the year all of my investment money is going into 80% VTI and 20% VXUS in the taxable brokerage account. In my Roth I’m putting it all in the 2065 target date fund. My thought was keep my Roth IRA super simple.
on Jan 1 of each year I plan on dumping 6k into my Roth, and continue putting in 33% of my monthly take home into my brokerage account. Once I get a car and have ~30k in savings, I’ll put all of my savings into investments, for a total of 88% of my income
I’m thinking of staying with my parents for 3-4 years, and so this is my plan during that time. My thought is once I move out obviously I won’t be able to save/invest so aggressively, but by then I’ll have close to 100k invested which should do me good in the next 30-40 years. if my next job offers a 401k, I’ll prob just contribute up to the max + 6k in my Roth and call it a day.
The end goal is not to retire early, but to basically have enough in savings/retirement so that working becomes optional. Is this a fine strategy? Should I make any changes?