Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I've been going through depression and anxiety for many years and as a result just have not been good about managing money. All of the emotional stuff aside, here's my situation:
- Checking account with over $30K.
- Over $30K in a 401K from a previous employer, haven't rolled it over yet.
- New 401K with just a few hundred in it.
- Car loan with $9K left on it.
- No other debt or loans.
- I just have a debit card.
- No mortgages and don't really want to move into a condo/home yet.
- No desire to get a masters degree even though I could get one for free at work but then I have to be enslaved for several years after.
- Make $70K a year at my job.
- Single with no wife or kids.
I feel like quitting my job and figuring out what I want to do in life. I could probably survive a good year without making a single dime. By then maybe I'll have a new stream of income that allows me to still have a soul. Aside from all of that, what obvious adjustments do I need to make today?
Caldus, I personally think you appear to be doing fairly well. One thing that is important that you left out is how old you are. Makes a lot of difference.
You need to figure out if you ever want that wife and kids or not. That will really impact advice.
Caldus, I personally think you appear to be doing fairly well. One thing that is important that you left out is how old you are. Makes a lot of difference.
You need to figure out if you ever want that wife and kids or not. That will really impact advice.
I'm 26 years old. The wife and kids? Not sure about kids. I have yet to be in a longer term relationship to even start thinking about things like that.
I need to make obvious adjustments financially though, don't I?
Just right off I'd say pay off that car loan... most auto loans are 7++ interest. What are your monthly expenses? Leave 6 or 8 months of those expenses in the checking account and invest the rest. After you pay off the car loan, LOL. Wish I was 26 again, still don't really know what I want at 41! But I know I don't want to pay interest on a car.
I've been going through depression and anxiety for many years and as a result just have not been good about managing money.
Sounds like you've been going through depression and anxiety - and it has absolutely nothing to do with managing money.
You may have health problems not money problems. You're doing just about everything right with money (I too would recommend paying off the car loan and sticking all that you don't need for living and an emergency fund into an S&P index fund or something like that).
Perhaps you need to see a counselor or a mental health professional.
I've been going through depression and anxiety for many years
^^
Your top priority right there...
Your financial situation is fine enough for now. Deal with the really important stuff first.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.