F.I.R.E User
Thinks s/he gets paid by the post
Will I Be Able To Retire Before Age 60?
Expenses in retirement: $60k minimum to the max 4% SWR. Whatever that maybe?
Here is a complete picture of my financial profile so far:
**Emergency funds**: **$3.000** earning 5.30% APY at online VIO Bank.
Checking account: **$100** daily balance.
**Debt**: **$0.**
**Tax Filing Status**: Single.
**Tax Rate**: Up to 12% Federal, 0% State.
**State of Residence**: Texas.
**Age**: 46.
**Gender**: Male.
Kid(s): None. No plans on having any.
**Desired Asset allocation**: 100% Stocks.
***Net Worth: $825,600*** which is my all-time high today!
Annual Salary: About **$70K** with 3% increase every year expected.
Current retirement assets:
Taxable:
**$51,664.82** -> Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX), Expense Ratio: 0.04% at Vanguard.
ESPP: **$5,303.72 ->** Megacorp (2% of paycheck), 1 year holding period before selling required, 15% per share discount. Using the profits to invest in VTSAX taxable account at Vanguard.
Traditional 401k: **$556,101.10 ->** SP 500 Index PL CE F, ER (Unknown) 85% AND Small Cap Index, ER (Unknown), 15%
6% Company Match $1 to $1. I took the allocation advice from Bogleheads forums and this is what was recommended to mimic VTSAX.
Contributing $23k with True Up option available.
Roth IRA at Fidelity: **$207,887** -> Fidelity ZERO Total Market Index Fund (FZROX), Expense Ratio: 0.00%. Contribution: $7k.
Pension at Fidelity: $0, Company merged into what it is today. employed for 1 year and 3+ months (Not sure if I will get any pension).
Employer has Roth 401K option.
Asset: 2016 Ford Fusion SE, paid off.
Never owned Real Estate. Always rented. I am paying at my highest rent in history which is now stands at **$613**
Mother (82) lives with me. She gets SSI, SNAP, Medicare/Caid. Family sends me the following funds every month:
Brother A: **$500**
Brother B: **$300**
Mother: **$120**
I prefer to F.I.R.E at an expense of $60-$75k per year living in Texas (Not my main choice) (rough future estimate).
Credit score 800+.
Game plan moving forward:
Continue to contribute the maximum allowed by law into traditional 401k and Roth IRA.
Company also offers a after tax up to $10k into 401k with in Roth conversion and I am not sure if I use should be using that instead of VTSAX taxable at Vanguard?
Leftovers to VTSAX taxable (varies)
Overall yearly contributions would be at least $40k counting the 401k match.
When should I plan to take SS? I am aiming for age 70.
Health: Fairly good health so far.
When should my investments have some Bonds exposure? What if the market tanks near and/or in retirement?
Expenses in retirement: $60k minimum to the max 4% SWR. Whatever that maybe?
Here is a complete picture of my financial profile so far:
**Emergency funds**: **$3.000** earning 5.30% APY at online VIO Bank.
Checking account: **$100** daily balance.
**Debt**: **$0.**
**Tax Filing Status**: Single.
**Tax Rate**: Up to 12% Federal, 0% State.
**State of Residence**: Texas.
**Age**: 46.
**Gender**: Male.
Kid(s): None. No plans on having any.
**Desired Asset allocation**: 100% Stocks.
***Net Worth: $825,600*** which is my all-time high today!
Annual Salary: About **$70K** with 3% increase every year expected.
Current retirement assets:
Taxable:
**$51,664.82** -> Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX), Expense Ratio: 0.04% at Vanguard.
ESPP: **$5,303.72 ->** Megacorp (2% of paycheck), 1 year holding period before selling required, 15% per share discount. Using the profits to invest in VTSAX taxable account at Vanguard.
Traditional 401k: **$556,101.10 ->** SP 500 Index PL CE F, ER (Unknown) 85% AND Small Cap Index, ER (Unknown), 15%
6% Company Match $1 to $1. I took the allocation advice from Bogleheads forums and this is what was recommended to mimic VTSAX.
Contributing $23k with True Up option available.
Roth IRA at Fidelity: **$207,887** -> Fidelity ZERO Total Market Index Fund (FZROX), Expense Ratio: 0.00%. Contribution: $7k.
Pension at Fidelity: $0, Company merged into what it is today. employed for 1 year and 3+ months (Not sure if I will get any pension).
Employer has Roth 401K option.
Asset: 2016 Ford Fusion SE, paid off.
Never owned Real Estate. Always rented. I am paying at my highest rent in history which is now stands at **$613**
Mother (82) lives with me. She gets SSI, SNAP, Medicare/Caid. Family sends me the following funds every month:
Brother A: **$500**
Brother B: **$300**
Mother: **$120**
I prefer to F.I.R.E at an expense of $60-$75k per year living in Texas (Not my main choice) (rough future estimate).
Credit score 800+.
Game plan moving forward:
Continue to contribute the maximum allowed by law into traditional 401k and Roth IRA.
Company also offers a after tax up to $10k into 401k with in Roth conversion and I am not sure if I use should be using that instead of VTSAX taxable at Vanguard?
Leftovers to VTSAX taxable (varies)
Overall yearly contributions would be at least $40k counting the 401k match.
When should I plan to take SS? I am aiming for age 70.
Health: Fairly good health so far.
When should my investments have some Bonds exposure? What if the market tanks near and/or in retirement?
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