07-26-2016, 03:19 AM
This is a great topic. I'll throw in my two cents on my situation. While I guess this topic is more for us writing down own our thoughts, I wouldn't mind some of you guys chipping in with your opinions.
So I've been without any income for pretty much a year. I've still managed to reinvest most of my dividends, though some have been used for expenses. All this comes from having pretty much no expenses at all right now. Of course not having enough funds has put a serious dent into the amount of cash that I've been able to deposit, however surprisingly enough I'm still almost on track to meet my 2016 goals in terms of $$$ on my investment accounts. I don't think I'll hit the most important, dividends earned, goal but that's life. Ohh and I need to put a bit of cash into my reserve/house fund since I had to dig in there for a couple grand during the spring.
Now I've got a new job now, starting in September. Good money but quite frankly it's just a 4 month deal for now, though there is quite a large chance of me keeping that job at least 1 year. So things are looking good, and I'd say I'll be looking at quite a significant amount of "extra" money since my expenses are minimal. But that, along with the current high prices in the market, make me wonder how I should use that money?
Topping up the reserve account up to where course be first priority. But after that? Obviously I'll be investing some of that money into the market but a part of me feels like maybe putting part of it into the reserve account would be a good idea. To be fair, that reserve account serves 3 purposes. Being there as a backup in case the shit hits the fan, being used as a downpayment for the future house/apartment (within the next few years), being a cash reserve to be used for investments if the market takes a big dip. But money in the reserve account is of course not generating anything there and I'm already a bit behind my schedule in investment goals... so it kinda feels like I need to catch up now that I have the capability to do so, especially since this job is not permanent by any means.
So I've got a few decisions to make as to how I need to continue financially.
So I've been without any income for pretty much a year. I've still managed to reinvest most of my dividends, though some have been used for expenses. All this comes from having pretty much no expenses at all right now. Of course not having enough funds has put a serious dent into the amount of cash that I've been able to deposit, however surprisingly enough I'm still almost on track to meet my 2016 goals in terms of $$$ on my investment accounts. I don't think I'll hit the most important, dividends earned, goal but that's life. Ohh and I need to put a bit of cash into my reserve/house fund since I had to dig in there for a couple grand during the spring.
Now I've got a new job now, starting in September. Good money but quite frankly it's just a 4 month deal for now, though there is quite a large chance of me keeping that job at least 1 year. So things are looking good, and I'd say I'll be looking at quite a significant amount of "extra" money since my expenses are minimal. But that, along with the current high prices in the market, make me wonder how I should use that money?
Topping up the reserve account up to where course be first priority. But after that? Obviously I'll be investing some of that money into the market but a part of me feels like maybe putting part of it into the reserve account would be a good idea. To be fair, that reserve account serves 3 purposes. Being there as a backup in case the shit hits the fan, being used as a downpayment for the future house/apartment (within the next few years), being a cash reserve to be used for investments if the market takes a big dip. But money in the reserve account is of course not generating anything there and I'm already a bit behind my schedule in investment goals... so it kinda feels like I need to catch up now that I have the capability to do so, especially since this job is not permanent by any means.
So I've got a few decisions to make as to how I need to continue financially.