I have been lurking on the forum for 6 months and I am hooked on the idea of at least having the ability of FIRE (maybe in 10-15yrs?)!! My problem is that I tend to analyze every decision to death and not get anything done when it comes to investments. I have been saving but I am not getting any returns because I can't decide which funds to be in.... Analysis Paralysis is my problem and I know it is costing me and my family big time! It makes me feel a bit foolish, honestly. We work hard for our money but I am not making it work hard for us Any advice is greatly appreciated!!
My situation: 36 married with a 1 year old
Both Self Employed live in rural Southern US
Last year our income was around 300K but we lived on about 120K (should be less this year...Remodeled and purchased a used car last year)
No 401K but just did set up a SIMPLE IRA in 2014
Considering a 401K but can't find a good low fee (yearly) option to get one set up.
Personal Savings (Wife's Included)
55K Emergency Fund (sitting in bank not gaining any interest (ugh))... Advice?
345K in a Taxable Vanguard Account (Sitting in VG Money Market)
75K in his/hers Roth Vanguard Accounts (Sitting in VG Money Market)
12K in a Vanguard SIMPLE IRA from 2014 (Sitting in VG Money Market)
Personal Debt
110,000 Mortgage at %5.37 (have debated paying it off)
Business Debt
475K at 4.5% but business has significantly more value than 475K so I tend to think of this as a wash. I have a personal 65K CD tied up as collateral to the business loan that I would like to get untied from this loan.
Questions for the folks of this awesome and inspiring forum..
What would you do if you were me??
At this point I am considering dumping everything into a Vanguard Retirement Date Fund... Bad Idea?
Any small business folks here open 401Ks to be able to sock away more cash? If so who did you use? Everywhere I look the fees are ridiculous and seem to take away much of the benefit.. Any advice on this one?
My situation: 36 married with a 1 year old
Both Self Employed live in rural Southern US
Last year our income was around 300K but we lived on about 120K (should be less this year...Remodeled and purchased a used car last year)
No 401K but just did set up a SIMPLE IRA in 2014
Considering a 401K but can't find a good low fee (yearly) option to get one set up.
Personal Savings (Wife's Included)
55K Emergency Fund (sitting in bank not gaining any interest (ugh))... Advice?
345K in a Taxable Vanguard Account (Sitting in VG Money Market)
75K in his/hers Roth Vanguard Accounts (Sitting in VG Money Market)
12K in a Vanguard SIMPLE IRA from 2014 (Sitting in VG Money Market)
Personal Debt
110,000 Mortgage at %5.37 (have debated paying it off)
Business Debt
475K at 4.5% but business has significantly more value than 475K so I tend to think of this as a wash. I have a personal 65K CD tied up as collateral to the business loan that I would like to get untied from this loan.
Questions for the folks of this awesome and inspiring forum..
What would you do if you were me??
At this point I am considering dumping everything into a Vanguard Retirement Date Fund... Bad Idea?
Any small business folks here open 401Ks to be able to sock away more cash? If so who did you use? Everywhere I look the fees are ridiculous and seem to take away much of the benefit.. Any advice on this one?
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