07-10-2008, 11:19 AM
Just looking for some financial advice from you wise-old-folks 
Anybody got any tips?
My Situation
Here's my situation. I'm 20 yrs old with a decent paying full-time job. I'm 3/4 of the way through my BS at Excelsior. I plan on going to grad school afterwards. (MA or Ph.D., haven't decided exactly what degree I want yet)
My Money's Situation
After my expenses, I'm left with approx. $18,000 a year to invest/save ($1,500 a month). As of today I have $15,000 sitting in a Charles Schwab Money Market (SW2XX) and another $5,000 in a Charles Schwab Mutual Fund (SWCGX).
I might need some of the money ($10,000 or so) in the near future to pay for my grad school (the rest I might be able to cover with a student loan), but other than that I will (hopefully) not need to touch this money at least until I need to make a down payment on a house (6 - 8 yrs from now).
My Questions
How should I invest my money? Should I open an IRA (Roth/Traditional)? Whats the best way I can take advantage of my situation (young age, low expenses)? Is it worth it for me to hire a financial consultant?
Anybody got any tips?My Situation
Here's my situation. I'm 20 yrs old with a decent paying full-time job. I'm 3/4 of the way through my BS at Excelsior. I plan on going to grad school afterwards. (MA or Ph.D., haven't decided exactly what degree I want yet)
My Money's Situation
After my expenses, I'm left with approx. $18,000 a year to invest/save ($1,500 a month). As of today I have $15,000 sitting in a Charles Schwab Money Market (SW2XX) and another $5,000 in a Charles Schwab Mutual Fund (SWCGX).
I might need some of the money ($10,000 or so) in the near future to pay for my grad school (the rest I might be able to cover with a student loan), but other than that I will (hopefully) not need to touch this money at least until I need to make a down payment on a house (6 - 8 yrs from now).
My Questions
How should I invest my money? Should I open an IRA (Roth/Traditional)? Whats the best way I can take advantage of my situation (young age, low expenses)? Is it worth it for me to hire a financial consultant?
[SIZE="1"]-Daniel
-------Degree Info---------
BS in Liberal Studies from Excelsior
AARTS - 30 ll
CLEP - 51 ll
DSST - 9 ul
ECE - 15 ul
ECE - 6 ll
ACTFL OPI - 3 ll
Total LL: 90 out of 90
Total UL: 24 out of 30 (6 left)
Grand Total: 114 out of 120 (6 left)
-------Next Up!-----------
2 UL ECE
[/SIZE]
[SIZE="3"]Ani Yehudi![/SIZE]
-------Degree Info---------
BS in Liberal Studies from Excelsior
AARTS - 30 ll
CLEP - 51 ll
DSST - 9 ul
ECE - 15 ul
ECE - 6 ll
ACTFL OPI - 3 ll
Total LL: 90 out of 90
Total UL: 24 out of 30 (6 left)
Grand Total: 114 out of 120 (6 left)
-------Next Up!-----------
2 UL ECE
[/SIZE]
[SIZE="3"]Ani Yehudi![/SIZE]
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