AdditionalAttorney t1_j28ukp5 wrote on December 30, 2022 at 2:13 PM

If you’re at the end of the flowchart it should all be invested

It sounds like you’re not sure, which makes me think you need to work on step 1… understand your spending, understanding your goals and priorities. Understand what your EF is for to make sure you have the right amount.

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random_curiosity_guy OP t1_j28vt5q wrote on December 30, 2022 at 2:23 PM

Thank you for the advice. I have tried doing this in the past and end up spinning my wheels or causing frustration because I can’t identify hard set financial goals for myself. But restarting at step 1 and trying to lay out just a couple of goals is the best route and work backwards.

AdditionalAttorney t1_j28wab1 wrote on December 30, 2022 at 2:26 PM

What really helped me was starting to use a budgeting tool (I swear by YNAB r/YNAB).

Bc it makes your day to day goals and priorities much more clear. Like do I value lattes or Ubers more…. How do I pay for vacations if money is tight etc…

It’s also made it really easy to understand how much my current lifestyle costs.. this includes the ebbs and flows of maintenance and emergencies (I’ve been doing it for a few years so have the days)…

Bc I know what my lifestyle costs it’s much easier to feel confident to invest more at the end of the flow chart bc I feel confident there aren’t a lot of major things I forgot abt…

And for things in X years idk about… well chances are once I decide I want it say a wedding or a downpayment… I can shift towards saving for it …. Anything 5 or more years kit isn’t worth keeping in cash. You could do a CD ladder or i series bond if you’re nervous abt putting too much in the market