Life Situation: Married, filing jointly. Both 33. No kids. San Diego, CA
Gross Salary/Wages: $180,000
Pre-tax deductions: 12% 401k
Current expenses: I summed everything as one value. We have done the Mint/YNAB thing and are working on it every month try to “find” more money to save. Not comfortable with the expenditures but we are actively decreasing them each month.
Assets: house is valued at $650K loan is $390K at 4%
Liabilities: car loans described below. No CC debt or student loans.
Specific Question(s): Our Roth IRAs are at Vanguard and in the process of shifting to Core 4 from Bogle Heads at the 80/20:
https://www.bogleheads.org/wiki/Lazy_portfolios#Core_four_portfoliosMy Fidelity 401k is in similar funds to the Vanguard accounts. We don’t have a taxable account.
My questions are general b/c I have become overwhelmed and have started second guessing what I have set up thus far in my financial life. I am looking for general guidance in order to get everything going in the right direction. We are talking about going to a financial planner to get set up. I (We) decided that we don’t want to be stuck in office jobs for the rest of our lives so we are planning ahead!
Should I be investing in Roth or tIRA? Should I open a taxable account? I get conflicting arguments around the internets. I have seen and read the order of investments but still don’t feel confident.
I have $30K in cash in a savings account. Should that be invested to a certain extent?
We have work provided health insurance. Should I still do HSA? Can I?
As you can see, very general questions.
Be gentle…
Category | Monthly | Comments | Annual |
Mortgage | $1,874 | | $22,486 |
and is $2350 with property tax
Non-mortgage total | $3,665 | | $43,980 |
Loans: | | | |
Car 1 | $401 | | $4,818 |
Car 2 | $427 | | $5,127 |
Current Savings$25,000 | | | |
Tax-deferred (e.g. trad. IRA/401k) | $190,000 | | |
Roth + HSA | $36,000 | | |
|
Other tax-advantaged investments: | | | |
Roth IRA | $917 | Room to increase? | $11,000 |
Total Expense | $7,284 | | $87,411 |
Total to invest | $1,597 | | $19,160 |
Living expenses | $5,859 | | $70,312 |
Non-mortgage loans | $829 | | $9,945 |
After-tax investable | $1,597 | | $19,160 |
The Sum changes month to month a little
Groceries $600.00 Home Supplies $125.00 Utilities $175.00 Auto Payment $423.00 Auto Insurance $200.00 Service and Parts $40.00 Fuel $300.00 Home Improvements (Repairs) $50.00 Pet Food and Supplies $75.00 Cell Phones $90.00 Internet Access and Entertainment $65.97 Alcohol and Bars $375.00 Restaurants $400.00 Coffee Shops $100.00 Doctor/Dentist $37.50 Haircuts $50.00 Gym $200.00 Beauty $50.00 Clothing $100.00 Travel/Vacation $150.00 HOA Fees $32.00 Entertainment (misc fun) $25.00 Sum $3,663.47 |