What Should I Do After Maxing Out My Roth IRA?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 12 June 2024

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	This episode is sponsored by SmartVester. Connect with an investing pro for free at Ramsey Solutions.
0:11.0	Com slash invest.
0:22.0	You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth and outrageous generosity. Up first we have it Jason in Irvine, California.
0:27.0	Hey Jason, welcome to the show.
0:29.0	Hey, how are you guys doing?
0:31.0	We're doing great.
0:32.0	How can we help? Yeah, so I'm a graduate student and
0:36.8	I'm really wondering how I should be spending my extra money. So what I take home is usually about 33,000 a year and I already have a
0:47.8	six-month emergency fund. I have no debt and I've matched out my Roth IRA for this year already and I'm just
0:56.9	wondering the extra money that I have where should that be going what should
1:00.4	I do with it? Wow good for you Jason. How are you paying for school?
1:04.0	So it's fully funded it's a PhD program in STEM so
1:10.0	they pay me to do it. Good for you. That's amazing.
1:13.0	Yeah, so you're making money through the school and getting it paid for.
1:18.0	That's incredible.
1:19.0	When do you graduate?
1:21.0	Probably 2026, maybe 2027. Okay, so two to three years. How old are you? I'm 25. Okay.
1:30.4	Okay. And how much extra money are we talking a month?
1:33.9	So you've maxed out your Roth, which is amazing.
1:37.6	Yeah, how much money per month do you have that you're wondering what to do with?
1:41.3	So typically, in a typical month I'll save between a thousand and a
1:45.2	1500 out of my stipend. Okay. And then I put away a big chunk of that to go into
	...

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