have $10k to invest right now.... whats the right move?

[Robertscz]

hey again! you all have been super helpful in the past so i have another one for ya! I recently sold a lot of basketball cards for around $12k (luka doncic PSA 10s) if any is interested lol currently this is what i have going

37yr old
teacher with 50k salary
full pension @ 56, can "double dip" until 62
70k in cash (including this $12k)
Fidelity roth ira - maxed for the year and last with around $13k in it 100% total market stocks
Fidelity 403b - have not contributed this yr, with balance of $76k 80 % total market/10%international/10% bonds

My assumption is that i should go ahead and put the $12k into the 403b? is there any way to do this other than take out the deductions from my paycheck? say taking $1k/check for 6mo? any other options that you all would consider?

i can give more info if needed, thanks in advance!!!

[sometimesinvestor]

Call Fidelity. THey will tell you what you can do

[F150HD]

dont buy Enron stock.

[mega317]

403b limit is 26k. I would max it out.
Why were you holding 58k in cash? That's a huge portion of your total portfolio.

[Robertscz]

403b limit is 26k. I would max it out.
Why were you holding 58k in cash? That's a huge portion of your total portfolio.

I am still holding that much. Still somewhat new to this, sorry if these are beginner questions

[mega317]

I'm just saying you had 58k cash, adding another 12 doesn't change your situation really. Why ask this now? Perhaps if you use the principles that got you to where you are, they can guide you onward.

[yangtui]

Why do you have so much cash? How much can you afford to contribute annually to your 403b? How much do you want to contribute? If allowed, you can contribute 100% of your available paycheck to your 403b and just live off of your savings. Cash is fungible.

[Robertscz]

i was never aware of having "too much" cash on hand. obviously i am going to look at it differently now though. I am going to talk to my fidelity adviser tomorrow and see what options i have. I am assuming most of you would go all the way down to the 3 months of living expenses in cash and somehow get the rest invested? is that correct?? so go all the way down to $10k held in cash in my situation?? thanks

[BL]

Divide 19,500 by the number of paychecks remaining, and have that amount deducted from your pay each pay period to go toward your 403b. Meanwhile, make up the difference with your cash savings as needed to live on until you eventually get down to your emergency fund money.

I would think having at least 6 months worth of expenses in a special E-fund is good, and possibly more during this difficult time until things get back to normal again.

[Sockpuppet]

I’d continue regularly investing into your tax deferred accounts (trying to max out over the course of the year is definitely a good goal although challenging at your salary range), but any large sum of cash coming in I would want to keep liquid for the the time being. Particularly, being in education you don’t know what the short term or long term impact of this will be on the profession.

I used to be of the school that it was insane to keep plenty of cash on hand, but having recently gone through an unexpected job loss with my wife and now this crisis when potentially both our jobs are on the line in an environment where it will be very challenging to get another job, it’s definitely been comforting that my wife insisted we keep two years of expenses in savings.

I feel like I was one of the big banks that were complaining about their forced liquidity by the government who are now so thankful they didn’t successfully repeal those requirements.

[MoneyMarathon]

37yr old
teacher with 50k salary
full pension @ 56, can "double dip" until 62
70k in cash (including this $12k)
Fidelity roth ira - maxed for the year and last with around $13k in it 100% total market stocks
Fidelity 403b - have not contributed this yr, with balance of $76k 80 % total market/10%international/10% bonds

My assumption is that i should go ahead and put the $12k into the 403b? is there any way to do this other than take out the deductions from my paycheck? say taking $1k/check for 6mo? any other options that you all would consider?

i can give more info if needed, thanks in advance!!!

Do you have any financial goals / future spending other than retirement?

How does your full pension amount compare to your current salary? What are the risks involved with the pension?

At what point would you consider your retirement to be overfunded?

[mortfree]

i was never aware of having "too much" cash on hand. obviously i am going to look at it differently now though. I am going to talk to my fidelity adviser tomorrow and see what options i have. I am assuming most of you would go all the way down to the 3 months of living expenses in cash and somehow get the rest invested? is that correct?? so go all the way down to $10k held in cash in my situation?? thanks

I wouldn’t go below 40k in cash

Given recent events you may just want to hang on to most of it until things stabilize (hopefully)

Best bet is to increase retirement contributions and use some of the cash, if necessary, to make up for lower take home pay.

Do you own a home? a car? Want to buy a home?

Even more reason to have cash.

[The Broz]

hey again! you all have been super helpful in the past so i have another one for ya! I recently sold a lot of basketball cards for around $12k (luka doncic PSA 10s) if any is interested lol currently this is what i have going

37yr old
teacher with 50k salary
full pension @ 56, can "double dip" until 62
70k in cash (including this $12k)
Fidelity roth ira - maxed for the year and last with around $13k in it 100% total market stocks
Fidelity 403b - have not contributed this yr, with balance of $76k 80 % total market/10%international/10% bonds

My assumption is that i should go ahead and put the $12k into the 403b? is there any way to do this other than take out the deductions from my paycheck? say taking $1k/check for 6mo? any other options that you all would consider?

i can give more info if needed, thanks in advance!!!

Do you have any non-mortgage debt? If so - I would suggest paying that off. If not - you may want to consider putting the money against a mortgage, or putting it in something safe to save for a down payment.