<prompt> Human: I have recently 5 months been educating myself on every aspect although Im sure theres tons more of personal finance, from retirement accounts to using rental properties as a means of passive income.Please critique my current financial standing and future plans.About me: 23 years old, NO debt whatsoever. Recent college graduate Engineering 2013, no student loans or anything, thanks Mom and Dad! Currently living at home with parents paying them 200month for basic expenses including food Own a car with 160,000 miles Worth approx. 5,000, still running great but planning on running it into the ground. Therefore I plan on purchasing a new car within 5 years, once the maintenance costs exceed the value of the car. Still on parents car insurance for 100monthIncomeAccountsExpenses: Employed as of January 2014, making 50,000 gross, with overtime so realistically up to 60k depending on hours. 15 minute commute twice each day, fairly low gas usage. Savings 0.01 interest and Checking accounts with Bank of America. Total cash 5,000. Cash Rewards 1-3 cash back Credit Card through BoA as well, I pay it off in full every month. I own 4 shares of Apple and 30 of LNCO in Etrade for a total of 3,000. I just play with stocks in this account, and have been doing this since 2007 in high school, making a little money here and there. I have opened a Roth IRA online through Etrade and have already put in the max 5,500 for 2013, currently zero for 2014. However, I have not yet invested in any ETFsstocksetc because I am a little skeptic about the current standing of the market. Im looking for a long term, high-risk but high yield investment. I need to put my money to work soon!! This is one of my main short term goals Planning on maxing out 5,500 for 2014 Roth IRA ASAP after my first couple paychecks, as well as utilizing my employer match of 2 in or companys 401k, which will be 1,000 free money for the year. Also planning on putting a decent chunk of my income into the 401k up to 17,500. I talk to my parents financial advisor about the different funds I am offered and how to distribute the contributions. Company pays for my cellphone and majority of healthdentallifedisability insurance May be 100-150month, have not yet enrolled in the plansSo after some basic math assuming I make 55,000 and contribute the maximum 17,500 to my 401k before taxes...after 25 tax is taken out and after contributing the max 5,500 to the Roth IRA, I will have 22,600 per year.After the 300 rent and car insurance per month to the parents and the company health insurance, that is about 1,500 cash per month. In my current situation, I do not see myself spending more than 500 per month gas, entertainment, clothes, etc.Major financial events in the near future: I plan on moving out into my own apartment within the next year. It is really nice saving that extra 800-1,000 each month on rent, but I dont want to live at home forever. I have a few friends nearby that already rent their own places and would want to split a 2-4 person apartment or rental house. New car. I am assuming I will buylease a new car within the next 5 years, not depending on how long my current one will last. I could always sell it for 3,000-5,000 a couple years down the road when I buy a new one. Theres not enough time in life to only have one income, therefore I am definitely planning on using my money to make more money, whether its rental properties or investing in a short-term non-retirement basis. I really like the idea of having a secondary and eventually tertiary passive income that isnt held up in retirement accounts, and thats what I will be working towards a couple years from now when I have a decent amount saved up.Please critique and give me suggestions on my current financial standing. Im happy to give any additional information if asked, but I feel like this is a pretty good overview for starters. Thanks!!!EDIT: Wow guys, thanks for all the great suggestions! Ive read through pretty much every comment, lots of helpful information below for not just me, but for anyone else in a similar situation. Im going to bed now but I plan on summarizing all of the ideas into one solid financial plan.Assistant: Im looking for a long term, high-risk but high yield investment. I need to put my money to work soon!!Stocks. Specifically, a total stock market index fund, like VTSAX. Low fees should be the primary thing you look for.General advice: You are me, but 6 years behind. I got my first engineering job paying 57k out of school when I was 23, with no debt. I have slowly increased my salary, saved around half, figured out how to live well on less, and invested everything in stocks. It took me a few years to figure out that indexing was the way to go. I turn 30 this year and just hit 300k net worth last month. On track to retire at 40.Be efficient with your money. You understand this as an engineer.Human: Awesome, thanks for the advice...Im definitely looking into low cost index funds for the majority of my long term investing. Just wondering, although I know its different for everybody, but did you find that jumping around from job to job in the engineering world let you advance quicker both position-wise and salary?This is what Ive been hearing, and therefore it may be a hassle to keep moving from apartment to apartment or house to house. I guess you need to weigh the costsbenefits.  <response>: Stay at a place as long as 1 you have good ability to grow into what you want, 2 they offer you awesome training opportunities, 3 . Worked well for my family and friends. Dont burn bridges. Be up front when it is time to give the 2 weeks. Sometimes it is just time to go in order to grow. But you cant do it forever, so be sure you have a good opportunity when you decide to move jobs. You dont want to look like a job hopper. This is one reason I really dont advise a house until you are roughly 30 for engineers. At least. We move a lot. But typically, companies are good about giving you good reviews of the area and what apartments to try. Dot worry about trouble finding housing. Never had an issue with it. 