My wife and I are both opening Roth IRA's and plan on maxing it ($5000/yr each). I was thinking I'd put them both fully into VTSMX Vanguard Index fund.. is that a good idea?
We both also have 401k's through our employers which we put ~10% of our pay into (both companies match 4%) and have 90% stocks 10% bonds in both of those.
We're thinking we'll both continue the 10% into the 401k and max the Roth IRA's w/ $5000/year/person every year. Sound reasonable? I just want to make sure I'm not doing something stupid here :)
Since it probably matters, we're both 29yr old and combined income is ~$150k right now. We're getting close hitting the income threshold of $165k where you're not allowed to put into a Roth IRA anymore, so we want to take full advantage of it while we still can.