Wow, lots of great advice here. I'm glad I asked. I saw some good questions... hopefully these details will help:
- Taxes... I just made the 33% bracket last year
- Income excludes me from ROTH contributions
- Accounts
- - Rollover IRA - $205,000
- - ROTH IRA - $11,400 (approximately $6,500 of that was contributions)
- - 401K - $133,000 (current employer)
Both IRAs are from a previous job, the ROTH IRA was a ROTH 401K from a previous employer that I contributed toward when my income was a bit less. All with Vanguard, I feel comfortable with the AA (value stock indexes with a 70/30 US vs. International mix).
The 401K at my current employer is the one growing fast, because of contributions of around $52,000 a year. Of which I contribute $18,000 but it's not required to get the company contribution of $34,000.
My thought was to continue maxing the 401k until around 45, taking advantage of the unique ability to boost my 401K... this assuming I stay with my current company for the next 10 years (that's the plan, I'm content here).
As I said in the OP, I'm just starting to consider what else to grow. To date, it's been primarily my 401K. I rent right now, but am looking out for house purchase if/when something aligns. I'll likely own a home in the next two years. That said, I don't really see myself living where I currently do for the long run - so home ownership would simply be financial and not a road map for retirement living (unless I start to view the equity as important to build, and transfer). Where I live, Northern Virginia, homes are very over priced. So when I move I'll be going down in cost there. Around age 50 I want to move to another state.
I'm divorced with two kids (8 and 6)... so them reaching 18 has a lot to do with my timeline to move and possibly retire - for now I'm lucky to live where I do and make what I do, but they are the only things tying me to the area. Important to me to be as involved in their lives as possible. My income is significantly higher than my spending, but a chunk of that is going to child support. I live on about $70,000 a year. So I assume, on this path, in 10 years I'll feel like I have more money than I know what to do with. That's likely when I could really pile onto a taxable account growth. Doesn't hurt to get started on that now as well... looking forward to any more advice you all have for me. Sounds like tax diversity is key.
Thanks in advance!