Large investments vs multiple investments?

Hello, I've been posting several questions about finances because I'm started to keep a better track of things and want to find my own place by the end of 2021. 

I have a Fidelity Roth IRA that my parents opened when I was about 19. I am now 32 and the account has $6.5k current market value. I just started contributing $50 a month to it (I honestly forgot about it) and I am 32 years old. I also have a 457 through my govt job at around $6.5k in value and currently enrolled 6% aggressive which is deducted from my pay. -Is it wise to open more investments in the future (index funds, ETFs, etc)? Or place money I would potentially invest elsewhere just into my Roth IRA and continue to contribute to my 457? 

I have about $6k in credit card debt which I am actively paying down. I am applying for weekend jobs to help pay this down ASAP.

I have $85k in federal student loans, which I qualify for loan forgiveness. So, I am only making minimum payments on this at about $250/per month. 

I have about $30k in private student loans at $225 per month and am thinking about putting an additional $100 per month to that as well.

My car insurance will be reduced by about $600 this year, which is good.

I make $48k per year currently. I just paid off my car which puts me at a total of $1400 in my checking account. I will be making a surplus of $1000 now.

Sorry if this is all over the place, I'm just trying to look ahead and show where I am now. Any advice or input is appreciated!


2 Answers

  • 1 month ago

    Put money that you don't plan to spend before age 59 1/2 into the Roth or the 457.

    Don't do that with money that you plan to spend sooner. Invest it elsewhere.

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  • Anonymous
    1 month ago

    You're in a world of hurt with all that debt. Pay off the loans and then start investing more.

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