Hello everyone. Long story short is that I got a late start in my retirement due to some student loan debt. Anyways, my wife and I have made up some ground over the past 5 years as far as paying off a good chunk of my student loans as well as our house, which in turn has put us in a position for her to stay home with our 1 year old. I am 34 and she is 31.
Current debt:
65K - Mortgage (original loan amount was 185K)
15K - Student Loan (original loan amount was 85K)
23K - Vehicle (original loan amount was 35K)
Current investments:
12K - PUTNAM ABSOLUTE RETURN 700 FUND CLASS A (originally had this in a Vanguard Roth IRA, but moved it with Putnam Investments 5 months ago)
5K - PUTNAM ABSOLUTE RETURN 700 FUND CLASS A (originally had this in a Vanguard Roth IRA, but moved it with Putnam Investments 5 months ago)
15K - (former employer 401K plan, I have yet to move or do anything with it)
2K - ING 401k (recently just started contributing 5% with company match)
45K - (wife's existing 401k plan from her former employer and she is in the process of moving it over to a PUTNAM 401k plan)
23K - PUTNAM OH TAX EXEMPT INCOME-A
Current emergency cash:
20K
We had in total around 50K in checking and met with a financial advisor. He suggested we put 25K in the PUTNAM OH TAX EXEMPT INCOME-A
He also suggested we move our Vanguard Roth IRA's into PUTNAM ABSOLUTE RETURN 700 FUND CLASS A funds as well as move my wife's 401k into a Putnam fund.
Just looking for some feedback on this move?
Current debt:
65K - Mortgage (original loan amount was 185K)
15K - Student Loan (original loan amount was 85K)
23K - Vehicle (original loan amount was 35K)
Current investments:
12K - PUTNAM ABSOLUTE RETURN 700 FUND CLASS A (originally had this in a Vanguard Roth IRA, but moved it with Putnam Investments 5 months ago)
5K - PUTNAM ABSOLUTE RETURN 700 FUND CLASS A (originally had this in a Vanguard Roth IRA, but moved it with Putnam Investments 5 months ago)
15K - (former employer 401K plan, I have yet to move or do anything with it)
2K - ING 401k (recently just started contributing 5% with company match)
45K - (wife's existing 401k plan from her former employer and she is in the process of moving it over to a PUTNAM 401k plan)
23K - PUTNAM OH TAX EXEMPT INCOME-A
Current emergency cash:
20K
We had in total around 50K in checking and met with a financial advisor. He suggested we put 25K in the PUTNAM OH TAX EXEMPT INCOME-A
He also suggested we move our Vanguard Roth IRA's into PUTNAM ABSOLUTE RETURN 700 FUND CLASS A funds as well as move my wife's 401k into a Putnam fund.
Just looking for some feedback on this move?
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