Hey,
My bride and I are starting to put together our investing plan and wondering a few things. I am self-employed and my wife works part time, so no retirement benies. I have both a Roth and Simple IRA. We also have some VTSAX. We haven't setup an IRA for my wife yet only because we're just getting to a point where we can actually have some decent cash to invest. We recently moved from a $350K house to a $170K house (4.99% 30-year) to increase what we can put away and we have around $1,400/month to invest at as of now. Here are some of the things we're wondering at the outset:
1 - Do we max out our IRA's before investing into VTSAX? If yes, which one, Roth or Simple? Also, if that's what you all are doing, I'm guessing we should establish an IRA for my wife and max that out as well before putting into the stocks, correct?
2 - For the funds used in the IRA's, should we also use VTSAX or use one of Vanguard's "Target Retirement" funds or something completely different from either of these?
3 - ... Those are the big ones for the moment, will think of others...
Thanks!