This may be a long post so I apologize for the length, I just want to be detailed and give the recommended info.
Age - 23 years old
Sex - Male
Job - Full-time (started last week)
Income - $75,600
Debts - 20k on car @ 5% for 5 yrs (looking to have it done in under 2), no other debts (and let's keep it that way!)
Filing Status - Single
Tax Rate Fed - 25%
Tax Rate State - AZ (not sure on rate, sorry)
I just started full-time last week with a good paying job with no student loans. I have a car to pay off but I can do that quickly. I am looking to set myself up for a comfortable retirement by saving wisely. I can afford to max out my 401(k) plus a bit more. My company does not do 401(k) matching but pays out according to profits, so I am no counting on their contributions (it'll just be considered extra retirement money - this way I don't count on it).
My retirement plans are not set in stone yet, but here is what I was thinking:
* Max-out annual 401(k) contributions (21% income)
* Temporarily divert additional IRA contributions to accelerate car payoff
* Establish 6-month emergency fund ($12k or so)
Now I need to figure out what to do with my 401(k) contributions. Below is a list of everything available to me:
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CORE ASSET CLASS FUNDS Stock Investments Large Blend LARGE CAP US STOCK Small Blend SMALL CAP US STOCK Foreign INTERNATIONAL STOCK Bond Investments Stable Value STABLE VALUE FUND International GLOBAL BOND FUND ADDITIONAL INVESTMENT OPTIONS Stock Investments Company Stock COMPANY STOCK FUND Large Growth AF GROWTH OF AMER R5 MGRS/C CAP APPR INST BRANDYWINE BLUE FUND FID CONTRAFUND FID GROWTH COMPANY SSGA NASDAQ 100 TRP GROWTH STOCK VANG GRTH INDEX INST Large Blend CALVERT EQUITY I DODGE & COX STOCK LONGLEAF PARTNERS VANG INST INDEX PLUS VANG WINDSOR ADM Large Value AM CENT EQ INC INST BTC RUSSELL 1000 VAL LM CM VALUE I Mid-Cap Growth MGRS/C MID CAP INST FID MID CAP STOCK Mid-Cap Blend FID LOW PRICED STK LM CM SPC INV I TCW VALUE OPPS I VANG MIDCAP IDX INST VANG STRATEGIC EQ Small Growth VANG SM GR IDX INST Small Blend AM CENT SM COMP INST GS SM CAP VALUE INST ROYCE PA MUTUAL INV Small Value AM CENT SM CAP VAL I GS MIDCAP VALUE INST VANG SM VAL IDX INST World BLKRK GLB SM CAP I TEMPLETON GROWTH ADV Foreign AF EUROPAC GROWTH R5 DELAWARE PT INTL EQ MSIF INTL SM CAP I VANGUARD INTL VALUE Specialty AM CENT REAL EST IS GAMCO GOLD AAA Diversfd Emerging Mkts SSGA ACTIVE EMRG MKT GMO EMRG COUNTRIES 3 LAZARD EMERG MKTS EQ IVK VALUE OPPS INST IVK COMSTOCK Y Blended Fund Investments* Mid-Cap Growth MERGER FUND Large Blend BLKRK GLOBAL ALLOC I Large Value FID PURITAN Convertibles VANG CONVERTIBLE SEC FRANKLIN INCOME ADV Bond Investments Long Government PIM LT US GOVT INST Intermed Government VANG INFL PROT INST VANG INTM TREAS ADM Long-Term VANG LT BOND IDX INV Intermediate-Term CALVERT BOND I PIM TOTAL RT INST High-Yield FID CAPITAL & INCOME PIM HIGH YIELD INST Multisector LOOMIS BOND INST International WFA INTL BOND IS Emerging Markets PIM EM MKTS BD INST Short Term Investments INV GOVT & AGCY PRT
I'm going through the start-up kit now but was wondering what would be recommended? If there's more info I could provide, please let me know!
Thank you very much