Hey everyone,
I'm still a newbie at everything on this site so please be semi kind-
My finances (no debt)-
Cash-$66,000 cash in the bank (life changes, and I was going to use this as a down payment for a 200k home)
9 years tax deferred into a penision at 10 %- Mandatory ( Probably $55 k if i cashed out now-I need to find more specifics-otherwise it is around 18k a year when I turn 60, which is over 30 years from now with a 3% COLA increase each year)
Need help here- 14K in Roth ( Through Fidelity 70% bio 30% consumer staple (every quarter I look there is less money than what I put in), but I am curious if I should just wait it out (risk aversion) since both are now ranked 3 stars out of 5 through Morning star.
So- 1)Should I move my retirement to another roth fund or wait it out?
2) Should I move some cash into a non retirement index fund to the Fidelity Spartan Total Market Index Fund (FSTvX) or reallocate elsewhere?
My fiance has hair on fire student debt, but she loves her job and will hopefully be doing 20 years in a full time public sector position once she finishes school come October of this year. I know more specifics are needed but it will be around 65k starting for her(she does not want to do private practice anytime soon which would increase her income by a lot), and I will need to look elsewhere as we live off of her income for awhile. We will more than likely have to move around every few years, so the house purchase is probably out of the question for at least four years.
Please offer a little help to make sure I'm putting money in the right place. My Roth IRA will be 100% done for the year by the end of this month for contributions. I can also do a 457 maxed out at my job until the fiance starts working full time.
My fiance wants to work 20 years regardless of what is saved, but I just want to make sure I'm doing things correctly financially for the near future. (yes, her student loans are bad for her I get it, and I hope to save the cash for the increase in taxes for the year her loans may be forgiven. )
Thank you in advance for the responses.