Author Topic: Super Super new- where to start?  (Read 1148 times)

rachellynn99

  • Stubble
  • **
  • Posts: 135
Super Super new- where to start?
« on: May 02, 2018, 03:53:27 PM »
Hi Guys-
I don't suppose I'm super super new, but I really don't know what I'm doing still.

Bottom line: Hubby and I are 35. We will be  100% debt free including our home in 4-5 years. We plan on staying on our land/home - no intentions on moving or selling.

Right now we have about $3k in each of our kids college funds ( we have 3, ages: 12,10,6). I'll put a small amount monthly into each of their accounts and they will just have what they have. I do not forsee us footing the entire bill for their college.

Right now we have:

$165k in husbands 401k
$130k in my 401k
$1500.00 in some stocks from my husbands company
$5000 in my HSA which we don't plan to touch as my husband also has an FSA.

My question is- what can I be investing a small amount in now that I will have access to if we do want to retire early? the 401ks we can't access without a penalty until we are 59.5 correct?

So where can I be putting a little money aside now that may grow and give me some kind of easily accessible option in our mid 40s if one or both of us decide to retire?

Thanks.

DreamFIRE

  • Handlebar Stache
  • *****
  • Posts: 1596
Re: Super Super new- where to start?
« Reply #1 on: May 02, 2018, 03:57:06 PM »

Kierun

  • Bristles
  • ***
  • Posts: 388
  • Location: HI
Re: Super Super new- where to start?
« Reply #2 on: May 02, 2018, 03:58:06 PM »

MDM

  • Walrus Stache
  • *******
  • Posts: 9847
Re: Super Super new- where to start?
« Reply #3 on: May 02, 2018, 04:00:14 PM »
And to round out the "usual suspects" see
Getting started - Bogleheads
Stock Series
www.etf.com/docs/IfYouCan.pdf
for more reading material.  Good luck!

rachellynn99

  • Stubble
  • **
  • Posts: 135
Re: Super Super new- where to start?
« Reply #4 on: May 02, 2018, 04:01:58 PM »
Wonderful- thanks so much! Amazing guidance. I'll start reading them now.

Bicycle_B

  • Handlebar Stache
  • *****
  • Posts: 1818
  • Mustachian-ish in Live Music Capital of the World
Re: Super Super new- where to start?
« Reply #5 on: May 02, 2018, 05:16:28 PM »
Side note supporting the other suggestions - for college financial aid purposes, most funding entities (schools, federal govt) exclude the $ that is in your 401k accounts and similar defined contribution retirement accounts.  So as you continue using these for the bulk of your investments, you automatically increase the support that the kids can get "for themselves" just by you filling out the relevant financial aid forms (FAFSA etc).  Keep up the good work, you're likely to be in great shape.

Radagast

  • Handlebar Stache
  • *****
  • Posts: 1596
  • Location: West of the Mountains, East of the Sea
  • One does not simply work into Mordor