Hi, I would like to revisit my case study. I have made a great deal of progress in the last 2 years. My goal is to keep on course and move all savings going forward to Vanguard, currently looking to put cash into VWINX (Wellesley Fund). I realize this is the risk tolerance that is correct for me. Objectives - family of 5; Another kid on the way. Our life is hectic, I work a lot, my wife stays at home to take care of 3 kids. I want to get out of debt and on track to retire early / work less. Goal is to have $1.5M in savings in order to achieve job freedom...Looking for any suggestions or things i am missing here. Thanks!
My salary income after tax & deductions (medical, 401k, mass transit): ~$10,000/mo. $1,850 a month going into 401k including employer match. $500/Month going to ESPP (15% discount). Figures above exclude bonus which is variable but could be a big number in the ~$50k+ area before tax.
Current Avg Monthly Expenses
Mortgage $1720 includes $450 per month for prop taxes and $60 per month for homeowners ins.
Heat, Electric, water, trash $250
TV, Phones, Internet $175
Car payment $500 (28 months remaining)
Student loan $105
Car insurance $40
Term life $40
Parking $25
Kids school $600 (will increase in future years as more kids get to school age)
Gasoline $100
Groceries $1000
Gym $70 (2 memberships w/ childcare)
Other $500 (dining, shopping, kids activities)
$5,125 per month spending
Assets
401k $160,000 (mostly in low cost stock funds)
checking $6,000
I Savings bonds $16,000
CD's $60,000 @ ~2.25%
IRA $10,000
529 college savings $20,000 (3 young kids)
investments $56,000 (some ESPP employer stock, mix of other stock/bond/etf) Plan to move at least half to VWINX over the next month
Vanguard (VWINX) - $6,000
property value $220,000
Paid-off car $6,800
Total $560,800 (excluding stock noted below)
Other: Un-vested Company stock $215,000 vests over next 5 years; after tax. Upon vesting I plan to sell and move most if not all proceeds to Vanguard. Possibly some into CD's depending on available rates.
Debt
mortgage $163,700 @ 3.375% (15 year fixed)
student loan $19,000 @ 2.25% fixed
Car $14,600 @ 0% interest (value $14,000)
Total $197,300
NW: 363,500
NW + Un-vested Stock: $578,500