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Appreciate all the feedback. I max out my 401k right now and dump the rest in my brokerage account, I think I’m on the right track. Thanks!

So I guess my question is, in my case, what is the advantage of parking money in an IRA? My employer offers a 401k so I don’t think any of my added contributions would be tax deductible anyway, correct? Plus in the unlikely event I would need to withdraw, my IRA would have fees.

This is a tax question… Is there any difference in a brokerage account vs an IRA, if I buy and never sell? I do not qualify for a Roth. The reason I ask is I don’t like the idea of not having access to the money until 59, so if I buy index funds and plan to never sell, wouldn’t it be...

I guess I just thought the combined $74k would "double" quicker than the 2 separate accounts

Ok, so this is where my question comes in...even after tax savings in Roth, wouldn't it be better to have an account of $74k growing instead of an account of $50k and $24k separately. Am I missing something?

In January, I have $24k invested in Roth IRA (me + wife, in VTSAX or VTI) In January, I put $50k in VTSAX or VTI Would there now be 94k in the same account, VTSAX or VTI? Or would it need to be separate since some money is taxable and tax free?

Another quick question, and excuse my ignorance... I don't understand the investment "buckets". It was suggested to open a Roth IRA this year for my wife and I and contribute again in January 2022. It was also suggested to contribute a large chunk of my cash into VTSAX or VTI. Is there a way...

Excellent info! VTSAX seems simpler, and the expenses are essentially identical. I will also be holding long term.

Boy this is such a great quote! Thank you!

Such a great story and analogy! Set it and forget it!

Any opinions? I am going to be putting a fairly large chunk in ($70k+) and wanted to know which was favored more. From what I’ve been reading, it appears VTI is more active and a bit cheaper, but they both seem very similar.

My wife and I both have term life policies. Great advice!

Any opinion on VTI vs VTSAX? I've read up on them both and they seem very similar, maybe VTI a little cheaper?

Understood, thanks

Great advice, thank you. Does the HSA need to be through your employer, or can I set up independently?

You nailed this! Absolutely right. I love seeing a huge cash balance in my account. Makes me feel secure. But I realize that's wasted opportunity and need to begin to put that money to work. I also realize I'm late but luckily I have a good chunk to add right away. Thank you for the feedback...

$12k to Roth this year ($6k per spouse) Cash balance into index funds, let’s say $70k $12k to Roth in January 2022 ($6k per spouse) Does this look right?

All great guidance, thank you for the input. I will open both IRA’s this year. Can those IRA’s be opened through Vanguard or will I need to go through an actual broker?

So true! Thank you!

I love it. Thank you!

Does the current level and activity of the stock market concern anyone? For someone who is entering the market and doesn’t have a solidified portfolio, is entering now a huge risk? Or is the bigger risk not entering NOW?

When I was a W2 employee over the years, I realize now it was really stupid not to contribute to get the match. I am in the process of switching employers and I believe the new employer has a match, which I will take advantage of. Thank you very much for all of the wisdom!

Great point. I referenced 80% in an above post for this reason. I agree keeping some back in case of emergency is smart. I think I would keep $20k set aside at any one given time just to be safe.

Current interest rate is 3.75%. I am in the process of working with my lender to lower, I believe to 3.25%. No fees. I put a large amount down on my home. Through appreciation over the years it’s worth about $450k. I ended up with the cash simply from saving. I work in the oil & gas/utility...

Your comment about market highs is well warranted. It makes me more than a little nervous to throw +\- $80,000 into this market. Given you can’t time the market, do I really have a choice?