Hey everyone, I just made an account here. Have been on other forums but wanted to try this one out too!
A little background. My wife and I have been married a year, I am 24 and she is 25. I just started a Roth IRA for myself and my wife. We make around 70k combined in a year. We each just got new jobs. I also have access to a 457B deferred comp through my state employer but I have not set it up as of now. I just maxed out my ROTH IRA for this year and own 11 shares of SPY, I also just transferred mine to Vanguard from ETRADE. My wife's RIRA is at Schwab and I am putting 125 dollars a month into it for now. This past year we paid off 21K combined Private student loans and a car loan. We still have 54k left in Federal Student loans between the two of us there are 13 of them. About half have an interest rate of 6.8% and half have an interest rate of around 3%. That is are only debt. We were going to put in a house in the spring for 160k-175k but we have decided to at least pay off the 6.85 loans before we take on more debt, which puts our timeline back a little while unfortunately.
We had about 35k in cash that we saved up and were going to use that toward the new home but decided to spend some on the student loans.
How much debt would you carry if you were about to purchase a new home?
Now this is what I was thinking about for my ROTH IRA investments.
Vanguard: Plan on maxing out each year. $458.33 monthly.
VTI-45% Total Stock
VXUS-25 Total Stock Int.
VNQ-10 REIT
BND-20 Total Bond
Schwab: $125 monthly until debt is paid then maxing out.
SCHB-45% Broad Market US
SCHA-10 Small Cap
SCHH-5 Real Estate
SCHF-20 International
SCHE-10 Emerging Markets Int.
SCHZ-10 Bond U.S. Aggregate
I'm open to suggestions and advice. The percentages are not set in stone I am still thinking about them. Thanks.
