So, my primary goal is to pay off my house quickly and reduce my expenses so I can work PT and be home with my child after school. I know I'm giving up potential future gains on this path, punch self in the face, but time with the little'un ASAP is the main goal here. I DO have an emergency fund of $12K and the savings I've been putting aside for my daughter, which is at $3K. I am hoping to put these employees to work and I am thinking of either the VTSMX or VTSAX. I would be okay with putting the $10K into it to get the VTSAX, and after looking over the site, it looks like the big difference is the higher minimum gets you the lower fees, is that correct? Otherwise it's the same mix?
Also, I can get at this money if I have an emergency? (noob!)
If I do $10K, I'd still have around $5K in case of emergency/immediate F-you money. I could stick to my mortgage plan and put around $100 per month plus whatever I come in under budget into the Vanguard.
More info, I'm 41, I put 10% into my 401k and my employer puts in 11% (I KNOW!!!) in one chunk once a year. This isn't a match, it's just what they do. So I have 21% of my income going to work for my retirement. The current balance is only $50K. I don't do a Roth - yet. (Did I mention I'm a noob? LOL) Maybe I should do $5k in a Roth through Vanguard VTSMX and another $5K in a regular VTSMX?
*hand wringing* I'm kind of askeerd of the stock market. This is all so new to me.