Hello All,
First of all thank you to this knowledgeable group for helping selflessly with valuable advice on important financial matters. It is due to this guidance, I am in a better financial situation as compared to myself from 5 years ago.
Current-
Age - Almost 46/44 married filing jointly, 2 depended children (18/11).
Single earner. ~185K/Year (Sal+Bonur+ESPP)
I max out 401k, Roths (both spousal and mine), and small Brokerage Account savings each month. Plan to continue doing that.
Financials:
Stock/Bonds/Cash-
Emergency Fund: $35K (Savings Account/Money MKT fund)
Savings(iBonds): ~$35k (funding college)
Brokerage:210K (VTI/VOO 100%)
RSUs/ESPP: $17K (Not vested employer stocks/ESPP savings)
401K Account: ~$390k (VIIIX 80% , Stable value Bond fund 20%)
Roths: ~90K (VTI/VOO 100%)
Real Estate-
Home1: ~700K (US Primary residence)
Home2: ~240K (Rental/primary overseas)
Metals (Personal Jewelry- no plan on adding or reducing this): $50K
3 Cars: Paid off, 1 newish + 2 old but reliable: $0
----------------------------
Net Assets ~$1.3 Million
----------------------------
Questions:
1. When I spend example, recent new (to me) car- $40K, some home repair ($5K) etc, I start feeling guilty, not sure if this is correct.
2. If I am saving as below:
- 401K Savings=> $27.7K i.e. maxing out my 401K (23K) + Employer Match (~4.7K)
- Maxing Roth and Spousal roth (~13K) and
- then some additional brokerage (say ~6K per year)
Is this enough savings rate? Or am I right to feel guilty and should increase savings instead (if yes- how much additional savings per year should I aim for?)
Thank you!
Thanks
First of all thank you to this knowledgeable group for helping selflessly with valuable advice on important financial matters. It is due to this guidance, I am in a better financial situation as compared to myself from 5 years ago.
Current-
Age - Almost 46/44 married filing jointly, 2 depended children (18/11).
Single earner. ~185K/Year (Sal+Bonur+ESPP)
I max out 401k, Roths (both spousal and mine), and small Brokerage Account savings each month. Plan to continue doing that.
Financials:
Stock/Bonds/Cash-
Emergency Fund: $35K (Savings Account/Money MKT fund)
Savings(iBonds): ~$35k (funding college)
Brokerage:210K (VTI/VOO 100%)
RSUs/ESPP: $17K (Not vested employer stocks/ESPP savings)
401K Account: ~$390k (VIIIX 80% , Stable value Bond fund 20%)
Roths: ~90K (VTI/VOO 100%)
Real Estate-
Home1: ~700K (US Primary residence)
Home2: ~240K (Rental/primary overseas)
Metals (Personal Jewelry- no plan on adding or reducing this): $50K
3 Cars: Paid off, 1 newish + 2 old but reliable: $0
----------------------------
Net Assets ~$1.3 Million
----------------------------
Questions:
1. When I spend example, recent new (to me) car- $40K, some home repair ($5K) etc, I start feeling guilty, not sure if this is correct.
2. If I am saving as below:
- 401K Savings=> $27.7K i.e. maxing out my 401K (23K) + Employer Match (~4.7K)
- Maxing Roth and Spousal roth (~13K) and
- then some additional brokerage (say ~6K per year)
Is this enough savings rate? Or am I right to feel guilty and should increase savings instead (if yes- how much additional savings per year should I aim for?)
Thank you!
Thanks
Statistics: Posted by StayOnTrack — Sat Sep 14, 2024 2:57 pm — Replies 1 — Views 182