Hi all,
Long time observer. Our goal is to have the option to retire at 50. The longest we'd be willing work is 55. Our retirement number is $3mil. DW will have a $5k per month pension at retirement. DH will have a $2k per month pension at retirement. We have 2 kids, 5 and 1 years old. Thank you so much in advance for reviewing our portfolio. This forum has been a great help to our family.
Emergency funds: $110k. This covers 1 year of expenses along with a possible roof replacement and house painting within the next 5-10 years.
Debt:
Mortgage: $378,000 (2.875% 30 year fixed) 27 years remaining
Tax Filing Status: Married Filing Jointly
Tax Rate: 22% Federal, 9.3% State
State of Residence: CA
Age: Me 38, DW 39
Desired Asset allocation: 80% stocks / 20% bonds
Desired International allocation: 20% of stocks
Portfolio Size: $567k
Current retirement assets
His 401k
27.76% RSP TOTAL US STK IND (0.0061%)
6.93% RSP INT'L STK INDEX (0.0258%)
5.70% RSP BOND INDEX (0.0258)
Company match: .75 per $1 up to 8% of eligible pay
His Roth IRA at Fidelity
8.05% Fidelity Total Market Index Fund (FSKAX) (0.01%)
2.28% Fidelity Total Intl Index Fund (FTIHX) (0.06%)
His Roth IRA at Vanguard
5.85% Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX) (0.04%)
2.62% Vanguard Total International Index Fund Admiral Shares (VTIAX) (0.11%)
His I-Bonds
5.81% (His I-bond total value is $32,968)
Her 457b
16.66% Fidelity 500 Index Fund (0.02%)
0.41% Safe Value Fund (0.35%)
Company match: None
Her Roth IRA at Vanguard
8.59% Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX) (0.04%)
3.57% Vanguard Total International Index Fund Admiral Shares (VTIAX) (0.11%)
Her I-Bonds
5.78% (Her I-bond total value is $32,780)
529 Accounts
$27,000 total
Term Life Insurance
His 30 year term: 2.5 mil
Her 30 year term: 2.5 mil
Disability Insurance
DH and DW have own-occupation disability insurance policies outside of work.
Contributions
New annual Contributions
$22,500 his 401k. Employer match is $4,980.78
$22,500 her 457b. Employer match is $0
$6,500 his Roth IRA.
$19,000 his Mega Back Door Roth
$6,500 her Roth IRA
$4,450 total into 529 annually
Available funds
Funds available in his 401(k)
RSP RET INCOME FUND (0.074%)
RSP TARGET DATE 2020 (0.0728%)
RSP TARGET DATE 2025 (0.0718%)
RSP TARGET DATE 2030 (0.0719%)
RSP TARGET DATE 2035 (0.0724%)
RSP TARGET DATE 2040 (0.0722%)
RSP TARGET DATE 2045 (0.0719%)
RSP TARGET DATE 2050 (0.0725%)
RSP TARGET DATE 2055 (0.0745%)
RSP TARGET DATE 2060 (0.0813%)
RSP TARGET DATE 2065 (0.1166%)
Employer Stock (0.0129%)
RSP LARGE STK INDEX (0.0107%)
RSP TOTAL US STK IND (0.0061%)
RSP SMALL STK INDEX (0.0328%)
RSP WORLD STOCK INDX (0.0101%)
RSP INT'L STK INDEX (0.0258%)
RSP EMERGING MARKET (0.7051%)
RSP US GOV BOND INDX (0.0080%)
RSP BOND INDEX (0.0258%)
RSP SHORT TERM BOND (0.0165%)
RSP MONEY MARKET (0.0091)
Brokerage Link Option
Funds available in her 457(b)
Carillon Scout Mid Cap R-6 (CSMUX) (0.86%)
Core Plus Bond/PGIM Fund (0.02%)
Large Cap Growth/Jennison Fund (0.01%)
MFS International Growth Equity (IS Platform) (0.03%)
Safe Value Fund (0.35%)
Fidelity Mid Cap Index (FSMDX) (0.02%)
Fidelity Small Cap Index (FSSNX) (0.02%)
Fidelity 500 Index (FXAIX) (0.02%)
Hartford Core Equity R6 (HAITX) (0.36%)
JPMorgan Small Cap Equity R5 (JSERX) (0.84%)
JP Morgan Equity Income R6 (OIEJX) (0.45%)
Pax Sustainable Allocation Inst (PAXIX) (0.65%)
PIMCO Income Instl (PIMIX) (0.62%)
State St Gbl AllCp Eq ex-US Idx ClII (0.06%)
Questions:
1. Is retiring at 50-55 feasible? Planning to build up DW's 457b fund and use these funds in early retirement. Might even consider selling the house and downsizing. We will use some proceeds from house sale in retirement to help bridge until retirement funds become available.
2. Thinking about investing some future 457b contributions into Core Plus Bond/PGIM Fund and State St Gbl Allcp Eq ex-US Index. This will help with bond and international allocation. Any problems with going this route?
3. Do I really need a taxable account? We are planning to use DW's 457b to bridge until we have access to our retirement accounts.
4. Any glaring holes in our plan?
Long time observer. Our goal is to have the option to retire at 50. The longest we'd be willing work is 55. Our retirement number is $3mil. DW will have a $5k per month pension at retirement. DH will have a $2k per month pension at retirement. We have 2 kids, 5 and 1 years old. Thank you so much in advance for reviewing our portfolio. This forum has been a great help to our family.
Emergency funds: $110k. This covers 1 year of expenses along with a possible roof replacement and house painting within the next 5-10 years.
Debt:
Mortgage: $378,000 (2.875% 30 year fixed) 27 years remaining
Tax Filing Status: Married Filing Jointly
Tax Rate: 22% Federal, 9.3% State
State of Residence: CA
Age: Me 38, DW 39
Desired Asset allocation: 80% stocks / 20% bonds
Desired International allocation: 20% of stocks
Portfolio Size: $567k
Current retirement assets
His 401k
27.76% RSP TOTAL US STK IND (0.0061%)
6.93% RSP INT'L STK INDEX (0.0258%)
5.70% RSP BOND INDEX (0.0258)
Company match: .75 per $1 up to 8% of eligible pay
His Roth IRA at Fidelity
8.05% Fidelity Total Market Index Fund (FSKAX) (0.01%)
2.28% Fidelity Total Intl Index Fund (FTIHX) (0.06%)
His Roth IRA at Vanguard
5.85% Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX) (0.04%)
2.62% Vanguard Total International Index Fund Admiral Shares (VTIAX) (0.11%)
His I-Bonds
5.81% (His I-bond total value is $32,968)
Her 457b
16.66% Fidelity 500 Index Fund (0.02%)
0.41% Safe Value Fund (0.35%)
Company match: None
Her Roth IRA at Vanguard
8.59% Vanguard Total Stock Market Index Fund Admiral Shares (VTSAX) (0.04%)
3.57% Vanguard Total International Index Fund Admiral Shares (VTIAX) (0.11%)
Her I-Bonds
5.78% (Her I-bond total value is $32,780)
529 Accounts
$27,000 total
Term Life Insurance
His 30 year term: 2.5 mil
Her 30 year term: 2.5 mil
Disability Insurance
DH and DW have own-occupation disability insurance policies outside of work.
Contributions
New annual Contributions
$22,500 his 401k. Employer match is $4,980.78
$22,500 her 457b. Employer match is $0
$6,500 his Roth IRA.
$19,000 his Mega Back Door Roth
$6,500 her Roth IRA
$4,450 total into 529 annually
Available funds
Funds available in his 401(k)
RSP RET INCOME FUND (0.074%)
RSP TARGET DATE 2020 (0.0728%)
RSP TARGET DATE 2025 (0.0718%)
RSP TARGET DATE 2030 (0.0719%)
RSP TARGET DATE 2035 (0.0724%)
RSP TARGET DATE 2040 (0.0722%)
RSP TARGET DATE 2045 (0.0719%)
RSP TARGET DATE 2050 (0.0725%)
RSP TARGET DATE 2055 (0.0745%)
RSP TARGET DATE 2060 (0.0813%)
RSP TARGET DATE 2065 (0.1166%)
Employer Stock (0.0129%)
RSP LARGE STK INDEX (0.0107%)
RSP TOTAL US STK IND (0.0061%)
RSP SMALL STK INDEX (0.0328%)
RSP WORLD STOCK INDX (0.0101%)
RSP INT'L STK INDEX (0.0258%)
RSP EMERGING MARKET (0.7051%)
RSP US GOV BOND INDX (0.0080%)
RSP BOND INDEX (0.0258%)
RSP SHORT TERM BOND (0.0165%)
RSP MONEY MARKET (0.0091)
Brokerage Link Option
Funds available in her 457(b)
Carillon Scout Mid Cap R-6 (CSMUX) (0.86%)
Core Plus Bond/PGIM Fund (0.02%)
Large Cap Growth/Jennison Fund (0.01%)
MFS International Growth Equity (IS Platform) (0.03%)
Safe Value Fund (0.35%)
Fidelity Mid Cap Index (FSMDX) (0.02%)
Fidelity Small Cap Index (FSSNX) (0.02%)
Fidelity 500 Index (FXAIX) (0.02%)
Hartford Core Equity R6 (HAITX) (0.36%)
JPMorgan Small Cap Equity R5 (JSERX) (0.84%)
JP Morgan Equity Income R6 (OIEJX) (0.45%)
Pax Sustainable Allocation Inst (PAXIX) (0.65%)
PIMCO Income Instl (PIMIX) (0.62%)
State St Gbl AllCp Eq ex-US Idx ClII (0.06%)
Questions:
1. Is retiring at 50-55 feasible? Planning to build up DW's 457b fund and use these funds in early retirement. Might even consider selling the house and downsizing. We will use some proceeds from house sale in retirement to help bridge until retirement funds become available.
2. Thinking about investing some future 457b contributions into Core Plus Bond/PGIM Fund and State St Gbl Allcp Eq ex-US Index. This will help with bond and international allocation. Any problems with going this route?
3. Do I really need a taxable account? We are planning to use DW's 457b to bridge until we have access to our retirement accounts.
4. Any glaring holes in our plan?
Statistics: Posted by RedandGold — Wed Jan 03, 2024 1:27 pm — Replies 2 — Views 127