My income: $84,213.00 (49 years old)
Her income: $80,000.00 (46 years old)
Mortgage: $2274.00 (ten year loan 3.125% refinanced in 2015) We owe $152500.00 currently after a $25,000.00 re cast of the mortgage
I don't work in the summer. I am a teacher. I put about 600.000 in my pension a month that I can't touch and can't get out of..... :(
She just got a new job with Vanguard as the 401 K (don't know the fund yet)
She has about $90,00 in old 401K that we will be placing in the new Vanguard account
Our expenses are minimum.
Utilities> electric, gas, cable, internet, college(community)
NO car payments
I ride my bike to school
She gets mileage reimbursement
I wanted to know if after fully fund her 401 K should we create a Vanguard total stock market index fund and dump as much money into it as possible
IF so, if we do not touch the dividends and automatically reinvest for now is the dividends taxable income?
And also how much should /could we put in there? 2000, 3000 or 4000 a month?
Don't want to retire at 67 would like to retire at 57 or less :o)
How to make it work?
Thanks for your time.