why-dont-you-explain-this-to-me-like-im-five-28136460 by
xberingeix xberingeix, on Flickr
Hello - A little background.
I'm an absolute moron. Sure I have graduate degrees but am legit. dumb. I'm 36 and for the first time in my life, I have no consumer debt. I found out about this blog from a coworker and I feel like my eyes have been opened.
Me: $1800 in retirement, $280 in ROTH IRA (VTI), $100 in Vanguard brokerage (hoping to have a money market but don't have $3k for VASIX) $48k/year.
Wife: $18k in retirement, $3200 consumer debt (1 year left in management/consolidation program), $55k in student loans. $90k/year
I'm trying to convince her to spend less and spend more time in nature/cooking at home.
I want to know where I should be putting my money? Do I max out my Roth IRA (VTI) $6k in 2019? Do I have VTI in an individual account as well, in case I need to borrow quickly for car repairs or w.h.y.? Does it make sense to have three accounts at Vanguard 1) Roth IRA - VTI, 2) VTI in an individual account, and 3) Money Market emergency fund?
My coworker has VFIAX VTSAX VASIX. Apparently you can buy VFIAX as an ETF per share, but as I mentioned, total moron, and can't figure out how to do that on Vanguard.
The goal is to use the philosophy over the next 14 years and retire at 50 or 19 years and retire at 55. My goal is $800k between us.
Other than continuing to research on the forum, what should I do? Any help is appreciated. And I know I'm new (and a moron), so if you must post a snarky meme or comment, feel free. As cool as this stuff is, the internet is still the internet and humans are still humans.
Thanks for any help - I need it!
bc