Hopeful
Recycles dryer sheets
- Joined
- Aug 6, 2013
- Messages
- 212
Hello everyone. I have been lurking for over a year now, and finally decided to join and introduce myself.
I just turned 40 and my DW is 46. We have no children, and have been saving for retirement since we got married. Currently I do not like my job/career, and want nothing more than to be FI. My DW makes more than twice what I do, but is not as miserable as I am in her job. DW makes 125K and I make 52K. Ideally our goal would be that in 5 years I could switch to a more enjoyable job regardless of pay, while my DW would be content going to part time. Then in 10 years we could both retire, sooner if we have the means.
The last 2 years I really started to organize our finances, and have been consolidating to index funds at Vanguard. We still have some individual stocks, but as I sell those off, I have been converting to Vanguard index funds. The biggest struggle I have been having is with the concept that money is fungible. I have things allocated in each account, which probably is not the most efficient tax wise. I would like to shoot for an allocation of 60% US Stock, 20% International Stock, and 20% Bond Funds. Though I am toying with the idea of a slight shift towards mid and small caps with an allocation of Total US 50%, Mid 5%, Small 5%, International 20%, and Bond 20%. I am sure I will get deeper into asset allocation later.
Our current situation:
Taxable
Stock Account: 395K
Vanguard Index Funds: 420K
CD @ 3%: 100K
TIPS: 20.5K
Cash 70K
Tax Deferred
403b's: 735K
Roth IRA's: 184K
Lump Sum Pensions: 218K
House value has dropped to somewhere around 465K, and we still owe about 45K which will be paid off in 3 years. No other debt.
That brings our total NW somewhere around 2.5MM, or around 2MM without the house.
We currently max out our 403b's and IRAs. We have been doing yearly back door Roth conversions.
I really need to start tracking expenses, but know we live very comfortably on $7000 per month take home after funding 403b's. That includes several nice trips per year.
Anyway, I just wanted to introduce myself prior to asking a bunch of questions on the forum. I am sure I will be bouncing some ideas off you guys regarding asset allocation. I bang my head against the wall with the separate tax and taxable accounts, especially with the poor choices in our 403b.
I just turned 40 and my DW is 46. We have no children, and have been saving for retirement since we got married. Currently I do not like my job/career, and want nothing more than to be FI. My DW makes more than twice what I do, but is not as miserable as I am in her job. DW makes 125K and I make 52K. Ideally our goal would be that in 5 years I could switch to a more enjoyable job regardless of pay, while my DW would be content going to part time. Then in 10 years we could both retire, sooner if we have the means.
The last 2 years I really started to organize our finances, and have been consolidating to index funds at Vanguard. We still have some individual stocks, but as I sell those off, I have been converting to Vanguard index funds. The biggest struggle I have been having is with the concept that money is fungible. I have things allocated in each account, which probably is not the most efficient tax wise. I would like to shoot for an allocation of 60% US Stock, 20% International Stock, and 20% Bond Funds. Though I am toying with the idea of a slight shift towards mid and small caps with an allocation of Total US 50%, Mid 5%, Small 5%, International 20%, and Bond 20%. I am sure I will get deeper into asset allocation later.
Our current situation:
Taxable
Stock Account: 395K
Vanguard Index Funds: 420K
CD @ 3%: 100K
TIPS: 20.5K
Cash 70K
Tax Deferred
403b's: 735K
Roth IRA's: 184K
Lump Sum Pensions: 218K
House value has dropped to somewhere around 465K, and we still owe about 45K which will be paid off in 3 years. No other debt.
That brings our total NW somewhere around 2.5MM, or around 2MM without the house.
We currently max out our 403b's and IRAs. We have been doing yearly back door Roth conversions.
I really need to start tracking expenses, but know we live very comfortably on $7000 per month take home after funding 403b's. That includes several nice trips per year.
Anyway, I just wanted to introduce myself prior to asking a bunch of questions on the forum. I am sure I will be bouncing some ideas off you guys regarding asset allocation. I bang my head against the wall with the separate tax and taxable accounts, especially with the poor choices in our 403b.