jcnelsn1, you have not given us much to work with, but I'll give it a shot. Here is what I think you plan to have by the end of this month. However, apparently you have not made up your mind and some of this money below might be going into another real estate venture.
Taxable "lowish 5 figures" so I'll guess at $3k
401k and Pension "less than $100k so I'll guess at $90k
His Roth IRA $5k
Her Roth IRA $5k
Total guess at your portfolio = $103k
Here is a possible way to set this up that will be tax efficient and and low cost.
Taxable 2.9% $3k
2.9% Vanguard Total International Index
401k and Pension 87.4% $90k
62.4% Vanguard 500 Index Fund Signal Shares Vanguard Funds VIFSX .05
25% PIMCO Total Return Institutional Shares PIMCO PTTRX .46 (or combine with the GNMA fund)
His Roth IRA 4.9% $5k
4.9% Vanguard Total International Index
Her Roth IRA 4.9% $5k
4.9% Vanguard Total International Index
This portfolio is 75% stocks, 25% bonds, with 17% of stocks (12.7% of portfolio) in international. Right now, the international is low, but that will be fixed (or near fixed) with next year's contributions.
An alternative is to use both the 500 Index (50%) and the Vanguard Small Cap Growth (12.4%) in your 401k to get closer to Total Stock Market. I'm not a fan of SCG, but it certainly is not poison and you should use it if you want.
For contributions, you said you might contribute this:
Taxable: $12k <--all to international unless it goes too high, then some to total stock market
401k and pension: $17,500 plus an unspecified amount which I'll guess at $20k for a total of $37.5k <--$14.9 to bonds, rest to US stocks
His IRA/Roth IRA $5k <--all to international
Her IRA/Roth IRA $5k <--all to international
This is kind of a rough and dirty idea because you have not been very precise with your information. Perhaps you didn't know that it matters. Or perhaps you just approach financial matters in a not very precise manner.
I'm not sure, but I get the feeling that you are running a little fast and furious with your money. I get the feeling that you are doing more in the realm of speculation and and less in the realm of investing. This could be an entirely unfair conclusion on my part, but I would be less than honest to make a suggestion without at least bringing this up for you to consider. Investing takes a bit of a plan and I'm not sure you actually have one.
There are several things that might be concerning. For example, rather than save for a house downpayment, you believe you can simply save that with next year's year end money. However, it appears you also sort of committed that same money to your taxable account and your IRAs for next year. And can you really get a downpayment with your year end money? Maybe in some communities, but probably not most.
You seem to be involved in some real estate ventures. There is nothing inherently wrong with this, but you need to have your retirement savings solid first. I'm not saying that your real estate won't provide a great benefit in retirement, but it is more speculative than a solid 401k and IRAs. If things don't work out like you hope, you might be eating cat food. I wonder if you need to pay attention to your retirement accounts a little more and your real estate a little less.
The fact that you are involved in a real estate partnership that owns the building that your company leases is a bit worrisome. If your business folds, are there other tenants that will support your partnership or does your partnership lose all of its income at the same time you lose your salary? This could be an example of putting two different eggs in the same basket when it would be much safer to put the eggs in different baskets.
And lastly, your debt is high and your interest rates are rediculous. You are absolutely right to plan to pay off the 8.5% second mortgage. But you should be applying this same theory to your other loans as well. Your debt load needs to be much lower before you consider this next multifamily housing venture.
Here's what you probably need to do. 1) Get rid of much of that debt - the interest rates are sucking you dry. 2) Decide on a reasonable amount to save for retirement. Don't let this be dependent on other things like real estate. This needs to be done first. 3) Save for and buy a house to live in - something that is within your means, not above your means. 4) Consider if you want to save for college for kids (if any) or if this will be something that real estate gains might pay for. However, be realistic or your kids might not get to go to college. 5) Once you are stable and can actually afford it, get into future real estate ventures if you are still interested.