I would appreciate any advice that could be given. Please don't beat me up too bad.
My fiance and I are 28 and 25. We are terribly afraid to lose money in the stock market but realize the importance of investing.
I currently earn roughly 45k from my employer, my fiance earns 40k, and I earn another 20k in non-taxable disability benefits. So ~105k/yearly. We currently rent and do not envision us buying a home for a long while.
Our incoming cash flow is good. We plan to max our Roth's yearly, increase the 401k contribution from my employer as raises come in.
Currently, we save about $1,000-$1500 per month after 401k for savings/Roth and another $1,000 per month for travel.
I'm afraid I will be laughed at for my ultra conservative attitude at such a young age for us. Age minus Bonds would be 72/28 split right now, which absolutely terrifies me.
Emergency funds = 6 Months of Expenses
Debt: 20k at 3.1% Auto Loan
Tax Filing Status: We each file single, uncertain on what to do when we marry
Tax Rate: Not sure where I will fall this year Federally, 0% State (FL)
[Note, my fiance's employer does not offer a 401k, she only has her Roth IRA which we just started last week]
HIS ROTH IRA - $5550 in WVINX - Wellesley Income (Maxed for 2013)
HER ROTH IRA - $1023 in VFIFX - Vanguard Target 2050 (Will Max for 2013)
401k See below
Desired Asset allocation: Age minus Bonds may be too aggressive for us. Open to suggestions.
Recently became available. I put in 9%, Company matches 5%
~$2700 in Fixed Fund @ 3.63%
Funds available in his 401(k)
Fixed Income Fund - Total Fee = 0.254%
Bond Index Fund - Total Fee = 0.104%
Large Cap Equity Index Fund - Total Fee = 0.062%
Large Cap Value Index Fund - Total Fee = 0.089%
Large Cap Growth Index Fund - Total Fee = 0.062%
Mid Cap Equity Fund - Total Fee = 0.066%
Small Cap Equity Fund - Total Fee = 0.336%
International Equity Fund - Total Fee = 0.528%