Married, ages 47/46
Current assets a bit north of $5M invested in 85/15 stock/bonds.$850k in 401(k)s
One spouse employed PT at $18/hour and expected to earn $10-15k/year.
One teenager with $350k in 529 savings accounts and doing well in high school so far.
Expenses are $90k/year.
Continuing to save by maxing out one 401K, HSA, two backdoor Roth IRAs and putting 85% of PT income into second 401(k), which is the max allowed. Planning to contribute retention bonus to mega backdoor Roth IRA which should be available in 2022 when my company merges benefits with our new parent company. This would put us at 30% savings rate, give or take, and add about $70k/year to retirement accounts.
The question is--do I keep trucking on this path? Would you change anything?
Current assets a bit north of $5M invested in 85/15 stock/bonds.$850k in 401(k)s
- $112k in HSA
- $550k in Roths
- $3,600k in taxable
- $725k townhome (no mortgage)
One spouse employed PT at $18/hour and expected to earn $10-15k/year.
One teenager with $350k in 529 savings accounts and doing well in high school so far.
Expenses are $90k/year.
Continuing to save by maxing out one 401K, HSA, two backdoor Roth IRAs and putting 85% of PT income into second 401(k), which is the max allowed. Planning to contribute retention bonus to mega backdoor Roth IRA which should be available in 2022 when my company merges benefits with our new parent company. This would put us at 30% savings rate, give or take, and add about $70k/year to retirement accounts.
The question is--do I keep trucking on this path? Would you change anything?
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