First of all, thank you to all of the Mustachians on this forum because you have already helped me tremendously. Secondly, I will keep this short, but we are opening up two Vanguard accounts (investment and retirement) and would like some advice from any of the many smart people on here.
I have a two-part question, but first here are the details:
My wife and I file jointly
We gross ~80k annually, both are age 30, and have two young children
Only debt is mortgage
We want to retire in approximately 15-20 years
We have no other investments other than my (non-maxed out) 401k with about $70k, but invest enough to get the match and my wife has a 403(b) (no match) with about $10k in it
For the investment account, I like index funds, but we only have around $3k so would the VTSMX be the best fit for us (jlcollins recommends 100%) until we have enough for VTSAX? Are there dividends from the VTSMX fund?
As for the retirement account, my wife is a teacher with a 403(b) with no match, but will be transferring all of it (about $10k) from that into a Vanguard fund. I am little confused because some people on here say taxable account until retirement, but others say Roth IRA before a taxable account. I am not sure what the minimum is, but I am thinking my wife should do a Vanguard Roth IRA (Target Retirement 2035 fund) and would love to get an opinion on this.
Any help at all would be much appreciated! Thanks!