Hi! So I'm going to talk more about my situation and Qs about Vanguard. I thought I was setting up an account but there were questions about which account I wanted that I did not understand.
First, a bit about me. I'm turning 31 in 2015, recently married, own my car (paid off), own my townhome (with my mom as the co-owner so no mortgage) and employed with an average salary yet enough to save. I have managed about $x7k total between Roth IRAs and 401ks and $x1k in personal savings. Yes, I know I need to invest it.
My goal is early retirement so that I can do my own thing whenever the heck I want. The sooner the better. My husband recently joined this forum and is a lawyer, but he plans on being FI rather than RE. So since I am new I have recently put in the $5,500 Roth IRA for 2014. I do the employer match of 3% but also recently updated my contribution amount so that I can reach the $18k for 401k for 2015. At least that's my plan. I read something about not all employers do the same with the 401k max. Idk.
I would say I save about $1k a month but I know I can cut back and I know how. Pretty much eating out less and buying less shoes, bags and stuff I never use. So with that in mind granted my current savings and whatever I can manage to salvage for 2015, what am I doing on Vanguard?
I have $x5k of the $x7 in Fidelity but my husband thinks I should do Vanguard because of the low expense ratio. I don't know which I'm supposed to choose for my situation. I'm guessing I may put down the $xk into the Vanguard account. Not sure; I'll have to do more research. Below are the 4 Vanguard setup account Qs that I wasn't sure about? Am I the General Savings, Individual, Reinvest (or not???) and Prime Money Market Account? I have no idea. I might give them a call soon to see if they can answer my Qs, but figured this was a more trustworthy source! Thank you all in advance! I love that I found this website! :-)
1. Am I General Savings since I plan on retiring as early as possible and not necessarily 59.5?
A. Non-retirement
B. General Savings
2.
A. Individual
B. Joint
C. Trust
3.
A. Reinvest
B. Transfer to money market fund
4. Do/should I choose the Prime Money Market Account or Tax-Exempt?
A. Prime Money Market Account
B. Tax-Exempt Money Market Account