AreWeThereYet0
Recycles dryer sheets
Hello! This site is awesome! I am a single 40 year old with no kids and have the desire to return at 50. 55 is probably more realistic but might as well set my goals high.
About me:
Own house with about 135K left on the mortgage. Value is probably around 220K.
~525K in 401K - max it out yearly
~325K in a gift trust that is parked in a single mutual fund that is doing well. I am currently able to access around 50K of the $.
~3,600 in a REIT Index fund (Vanguard of course!). making $100 contributions monthly
~160K in Roth. Mixture of stocks and mutual stocks. max out yearly.
~47K in non-tax advantaged account with stocks and mutual funds
Grand total of all these accounts is a little over 1M. (I am not counting the house in my calculations)
91K emergency fund (some set aside for next car, vacation, etc.)
I make around 93K a year.
Live in the Northeast. No plans to relocate to a more expensive area.
For my 401K 40% is in a mid cap value fund, 40% is in a small growth fund and 20% is in a foreign mutual fund,
The gift trust is one mutual fund. It's a large growth fund. I can touch about 50K of the 325K but the fund has done well over the years so I have left it alone.
Roth is composed of:
35% Vanguard small cap index
15% QLD
12% Southwest Airlines (LUV)
8% Vanguard total stock market index
7% Netflix
6% Amazon
and other stocks and mutual funds of less significant amounts of the total portfolio. One being a Fidelity Target fund (Freedom Index 2035 Investor) with the idea that I would slowly start moving most of my holdings to that fund.
The non-tax advantaged account is composed of the following:
44% Vanguard small cap index
34% Visa
21% Berkshire Hathaway B
I believe that I have generally done well with my individual holdings but I like not having to watch my investments which is why I am heavily weighted in funds. I think that I should probably shift to a simpler portfolio. I know that I probably have too much going on in my Roth which is where I used to "play the market" but now that I want to retire in 10 years I am much more serious about it and want to make sure that I am doing the right thing. A 75 stock index/25 bond index might be the way to go at this point. I would love to hear your comments about my current situation and how you think I should change it.
I really want to retire at 50 and FireCalc says that I will be living off around 70K if I retire at 50. That is totally acceptable to me. I am expecting to get an inheritance sometime within the next 2 to 5 years between 200K to 400K after taxes. With the inheritance I figure that I should get able to get there quickly provided we don't have a down market. I am going to also get some additional money from company stock and a pension fund. I feel like I have typed a novel, but I wanted to provide as much information as possible so that you could provide better advice. Thank you.
-Are we there yet?
About me:
Own house with about 135K left on the mortgage. Value is probably around 220K.
~525K in 401K - max it out yearly
~325K in a gift trust that is parked in a single mutual fund that is doing well. I am currently able to access around 50K of the $.
~3,600 in a REIT Index fund (Vanguard of course!). making $100 contributions monthly
~160K in Roth. Mixture of stocks and mutual stocks. max out yearly.
~47K in non-tax advantaged account with stocks and mutual funds
Grand total of all these accounts is a little over 1M. (I am not counting the house in my calculations)
91K emergency fund (some set aside for next car, vacation, etc.)
I make around 93K a year.
Live in the Northeast. No plans to relocate to a more expensive area.
For my 401K 40% is in a mid cap value fund, 40% is in a small growth fund and 20% is in a foreign mutual fund,
The gift trust is one mutual fund. It's a large growth fund. I can touch about 50K of the 325K but the fund has done well over the years so I have left it alone.
Roth is composed of:
35% Vanguard small cap index
15% QLD
12% Southwest Airlines (LUV)
8% Vanguard total stock market index
7% Netflix
6% Amazon
and other stocks and mutual funds of less significant amounts of the total portfolio. One being a Fidelity Target fund (Freedom Index 2035 Investor) with the idea that I would slowly start moving most of my holdings to that fund.
The non-tax advantaged account is composed of the following:
44% Vanguard small cap index
34% Visa
21% Berkshire Hathaway B
I believe that I have generally done well with my individual holdings but I like not having to watch my investments which is why I am heavily weighted in funds. I think that I should probably shift to a simpler portfolio. I know that I probably have too much going on in my Roth which is where I used to "play the market" but now that I want to retire in 10 years I am much more serious about it and want to make sure that I am doing the right thing. A 75 stock index/25 bond index might be the way to go at this point. I would love to hear your comments about my current situation and how you think I should change it.
I really want to retire at 50 and FireCalc says that I will be living off around 70K if I retire at 50. That is totally acceptable to me. I am expecting to get an inheritance sometime within the next 2 to 5 years between 200K to 400K after taxes. With the inheritance I figure that I should get able to get there quickly provided we don't have a down market. I am going to also get some additional money from company stock and a pension fund. I feel like I have typed a novel, but I wanted to provide as much information as possible so that you could provide better advice. Thank you.
-Are we there yet?