I am 24 years outdated and simply began working full time October of 2024, making 72k and residing at house. I plan to dwell at house a minimum of one other 6-12 months, and I am presently contributing 25% of my paycheck to my employer 401k, am on tempo to max my roth IRA contributions, and have an emergency fund of about $3,500 incomes 3.60%, which i am placing about $500/month in direction of to attempt to construct up for every time I do transfer out. I additionally simply began placing $350/month in direction of my HSA account, which I’m contemplating growing so as to hit the max contributions for the 12 months.
Since I haven’t got too many bills whereas residing at house, I am making an attempt to determine the place to place more cash in direction of to get as far forward as potential earlier than I transfer out. I am questioning if I ought to both 1) Up my 401k contribtion % to 30% or much more to attempt to get as near maxing it out for the 12 months. 2) Contribute extra per 30 days in direction of my emergency fund to get that solidifed for as soon as I transfer out. 3) Max out my HSA contributions for the 12 months to benefit from the tax advantages of these contributions & tax progress if I resolve to take a position it.
My intestine is telling me to attempt to up my 401k contribution % since placing more cash in direction of that as early as potential will reap the advantages of compounding. However I am questioning if I ought to attempt to prioritize my emergency fund a bit extra to get it to an quantity that may be value 6 months of bills for once I do transfer out to my very own place. Any assistance is appreciated. Thanks
