F.I.R.E User
Thinks s/he gets paid by the post
Emergency funds: $3,000 earning 0.57% APY at online VIO Bank. Should I have more? If yes, in I-Bonds which is paying 3.54% until maturity of 1 year?
Checking account: $500 daily balance.
Debt: $0.
Tax Filing Status: Single.
Tax Rate: 22% Federal, 0% State.
State of Residence: Texas.
Age: 43.
Gender: Male.
Kid(s): None and don't plan to.
Desired Asset allocation: 100% Stocks.
Desired International allocation: 15% only in t401k.
Net Worth: $547,498.
Current retirement assets
Taxable:
$10,921, Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX), Expense Ratio: 0.04% at Vanguard.
ESPP: $1,659. 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: $380,199, Fidelity 500 Index Fund (FXAIX), Expense Ratio: 0.015% AND Vanguard Small-Cap Index Fund Institutional Plus Shares (VSCPX), Expense Ratio: 0.03%. 85% FXAIX AND 15% VSCPX.
6% Company Match $1 to $1.
Contributing $19.5k with True Up option available plus the match $3,600.
Roth IRA at Fidelity: $151,089 Fidelity ZERO Total Market Index Fund (FZROX), Expense Ratio: 0.00%. Contribution: $6k..
Pension at Fidelity: $0, Company merged into what it is today. employed for 1 year and 3+ months. I will call Fidelity and find out if I qualify for anything.
Employer has Roth 401K option.
Note: NEW! AFTER-TAX CONTRIBUTIONS
If you have already made the maximum pretax and/or Roth contribution possible (including catch-up contributions if eligible), consider making an after-tax contribution to save even more for your retirement. You can contribute up to $10,000 annually after-tax. After-tax contributions are not matched.
NEW! ROTH IN-PLAN CONVERSION
If you choose to make after-tax contributions, consider a Roth In-Plan Conversion of those contributions to build the most potentially tax-free income possible. The automated Roth In-Plan Conversion with Daily Sweep feature makes this simple by converting after‑tax balances automatically.
Asset: 2016 Ford Fusion SE, paid off. I don't see a reason to sell even though the value of car has gone up.
Never owned a house. Should I buy?
I prefer to F.I.R.E at $2M with a withdrawal amount of about $50-$75k per year living in Texas.
Credit score 800+.
Game plan moving forward:
Continue to contribute $19.5k into traditional 401k. (6% dollar to dollar match) plus $3,600 company match.
Continue to contribute $6k into Roth IRA.
Leftovers to VTSAX taxable (varies). I am not sure how much I can contribute each year.
Salary: $60,000 before taxes. Annual salary raises will continue. Health plan through employer. FSA $500 per year. I do not qualify for HSA as my deductible is $800 on medical.
Renting: $1,310. Tenants: Mother and I.
Additional monthly income:
From,
Brother A: $500.
Brother B: $300.
Mother: $100.
Yearly expense in retirement: $50k-$75k.
Can I retire between ages 55-60?
Checking account: $500 daily balance.
Debt: $0.
Tax Filing Status: Single.
Tax Rate: 22% Federal, 0% State.
State of Residence: Texas.
Age: 43.
Gender: Male.
Kid(s): None and don't plan to.
Desired Asset allocation: 100% Stocks.
Desired International allocation: 15% only in t401k.
Net Worth: $547,498.
Current retirement assets
Taxable:
$10,921, Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX), Expense Ratio: 0.04% at Vanguard.
ESPP: $1,659. 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: $380,199, Fidelity 500 Index Fund (FXAIX), Expense Ratio: 0.015% AND Vanguard Small-Cap Index Fund Institutional Plus Shares (VSCPX), Expense Ratio: 0.03%. 85% FXAIX AND 15% VSCPX.
6% Company Match $1 to $1.
Contributing $19.5k with True Up option available plus the match $3,600.
Roth IRA at Fidelity: $151,089 Fidelity ZERO Total Market Index Fund (FZROX), Expense Ratio: 0.00%. Contribution: $6k..
Pension at Fidelity: $0, Company merged into what it is today. employed for 1 year and 3+ months. I will call Fidelity and find out if I qualify for anything.
Employer has Roth 401K option.
Note: NEW! AFTER-TAX CONTRIBUTIONS
If you have already made the maximum pretax and/or Roth contribution possible (including catch-up contributions if eligible), consider making an after-tax contribution to save even more for your retirement. You can contribute up to $10,000 annually after-tax. After-tax contributions are not matched.
NEW! ROTH IN-PLAN CONVERSION
If you choose to make after-tax contributions, consider a Roth In-Plan Conversion of those contributions to build the most potentially tax-free income possible. The automated Roth In-Plan Conversion with Daily Sweep feature makes this simple by converting after‑tax balances automatically.
Asset: 2016 Ford Fusion SE, paid off. I don't see a reason to sell even though the value of car has gone up.
Never owned a house. Should I buy?
I prefer to F.I.R.E at $2M with a withdrawal amount of about $50-$75k per year living in Texas.
Credit score 800+.
Game plan moving forward:
Continue to contribute $19.5k into traditional 401k. (6% dollar to dollar match) plus $3,600 company match.
Continue to contribute $6k into Roth IRA.
Leftovers to VTSAX taxable (varies). I am not sure how much I can contribute each year.
Salary: $60,000 before taxes. Annual salary raises will continue. Health plan through employer. FSA $500 per year. I do not qualify for HSA as my deductible is $800 on medical.
Renting: $1,310. Tenants: Mother and I.
Additional monthly income:
From,
Brother A: $500.
Brother B: $300.
Mother: $100.
Yearly expense in retirement: $50k-$75k.
Can I retire between ages 55-60?
Last edited:
