Hi Everyone! I'm a new member to this board and am really enjoying the wealth of knowledge I'm finding in the comments here. I introduced myself in the "Hi, I'm New" forum, so I'll try not to re-hash too much of that in here. Hopefully this is the right forum for my questions.
Age: 28 - married and living on a single-income (wife is currently in nursing school)
Residence: San Diego, CA
Income: $4000/month after taxes and after 15% retirement contribution
-will be closer to $8-$9000/month in 2013 once the wifer starts her career.
Savings: $25,000 in regular savings account ; $34,000 in 401K
I recently relocated to San Diego. I have $34,000 in a Fidelity 401K plan (Freedom Fund Fidelity Freedom 2045 Fund (FFFGX)
) from my old employer. I have chosen to roll that money into the the Fidelity 457 that my new employer offers and keep with the same freedom fund.
My new employer also provides a yearly contribution into a Fidelity 401a plan. It's very generous as it's 6% of my salary on top of the contribution they already make to the 457 plan.
I guess my main question has to do with diversification. With me already invested in that Freedom Fund, what should I invest my 401a money in? Also, I do have $400-$500 of extra monthly income to invest somewhere else. Any ideas?