Abstract: 37 y/o, single no children, 6.5 years as a authorities worker (who is aware of how lengthy that may final), ~150k revenue, 19k in HYSA at present at 3.5%, 110k in TSP, 17.5k throughout two common financial savings accounts. I do the max 5% match at my company. Take house is 6.2k a month. Important bills (mortgage, automobile mortgage, typical payments, automobile insurance coverage + fuel, meals) are roughly 4k a month. Aside from shock bills and together with leisure, I sometimes save ~1.2k a month which works totally within the HYSA now.
Silly factor out of the best way first, I do have a $1200 automobile notice. I used to be beforehand driving a paid off automobile, however on account of a household scenario my mother who nonetheless works half time at 60+ wanted a automobile (tldr my dad blew by an asston of cash together with my and my sister’s inheritance for some unknown purpose and that had the anticipated penalties with my mother being a housewife for nearly 2 many years). So I gave that to her to make use of so long as she wanted to since I knew how dependable my automobile had been. I took out 18k from my account that might’ve been used to purchase a used automobile for her to as an alternative use as a down cost on a brand new automobile for myself with the intention of not even entertaining the thought of getting one other automobile within the subsequent 15+ years until one thing sooner or later forces me to promote or the automobile is totaled; for reference I’ve had the automobile that she’s driving since 2013. 22 months right into a 48 month mortgage, payoff in the mean time is 31k.
I did not save that a lot whereas I used to be at school and completed shortly after I turned 27, after which it took 6 months for me to get my present job (first as a contractor, transformed to FTE after 3 years). That is a part of my concern since I vividly keep in mind how lengthy it took to get my present job with my financial savings being close to zero by the point I bought it, and being a authorities worker with a CS diploma appears would not encourage a lot confidence in the mean time. I just lately watched a pal from grad college who lives close by with a CS PhD and levels in each math and physics seek for a job for 4 months solely to fall again on a proposal from one in all our pals who leads a crew of researchers. My household additionally wasn’t that nicely off till I began school, so the unhealthy instances rising up penny pinching is all the time behind my head.
I figured one thing like 40k in liquid financial savings to achieve virtually a yr’s price of bills while not having to the touch my 401k or dwelling fairness (>50k) can be a protected quantity, after which after that I may go all in on my TSP and HYSA contributions for so long as I’ve my job. The one security internet I probably have in the mean time if the worst case situation ever occurred is packing up and shifting 600+ miles again to my dwelling state and dwelling in my sister’s shed whereas I get again on my ft.
So how would you stability your financial savings and retirement contributions on this scenario? Not promoting the automobile until I’ve to, which can or could not occur given present authorities shenanigans (similar used mannequin with 10k extra miles is at present promoting for 50k, so I feel it is protected to say I am not underwater on the mortgage)
