If this is not the right section, mods feel free to move it.
For the past few months I've been doing lots of reading both here and at jlcollinsnh and I've learned a ton. I've tried to go about things the best I could, but am just looking for any advice I can get from you guys. I'm sure this kind of stuff gets posted a ton, but again, any help would be awesome.
I'm 31 and currently an RN making about 48k a yr. I should be graduating with my nurse practitioner degree soon and hope to find a job making at least 80k. My wife is also an RN but stays home with the 2 kids. She may work a little after my graduation, but we can ignore that. We have a small home that we owe about 100k on. We would love to be FI by our 50's, but we haven't made any hard goals (I know we should). Our accounts are currently:
Savings of about 20k
401k of about 34.5k
IRA of about 13k
Student loans- 35k at about 6.5%
My company matches 4.5% of 401k contributions and I have been putting in 10%. I have split that into 5% typical pre-tax contributions and 5% ROTH contributions into the same account. I recently changed it to all be pre-tax contributions, not sure if that was appropriate. The IRA is just something I put a lump sum of 1k into a few years ago, not really knowing what I was doing.
My 401k funds:
Vanguard VIIIX- Institutional Index Fund Institutional Plus Shares (essentially the SP 500)- 30k (exp ratio 0.02%, 86% of portfolio)
Small company value fund PRSVX- 2,800 (exp ratio 0.96%, 8% of porfolio)
Bond fund PTTRX- 1,800 (exp ratio 0.46%, 6% of portfolio)
We also max out our HSA each year.
The other funds available are awful, so I won't bother listing them. Anyway, I have seen MDM's investment rules of thumb and feel that it is a great place to start. Accordingly, my plan is to graduate/find a job, drop 401k contributions just to get company match (this may obviously change if I end up changing employers), then pay off student loans as quick as possible while still maxing out the HSA each year. Does that sound about right? Is the exp ratio of the small company value fund high enough that you would just roll that into the Vanguard fund even though I wouldn't have any small/mid cap exposure? My options may change based on what happens in the near future, but I was just wanting to see if I'm on the right track. Any input would be greatly appreciated!