Hi Everyone! Been reading for the past few months and put together a plan that I would love your feedback on.
Overview: I sold a business recently for mid to low seven figures. I also have income from another business that puts me in the top tax brackets and reside in California. My issue is that only 1-2% of my assets are in a tax-advantaged account.
Emergency Fund: Ally Savings
Debt: Primary Home, 1m, 3.75% 30 Year Fixed with 28yr left. Was 20% down.
Tax Filing Status: Single
Tax Rate: 39.6% Fed, Cali: 12.3%
Desired Allocation: 60% Stock, 40% Bonds
Intl Allocation: 66% US, 34% Intl
I am using a mix of California and Fed Tax Exempt Vanguard Bond funds and then VTI and VXUS for the stocks.
Current allocation is 40% Cash (California Money Market), 24.2% bond, 34.5% Stocks. I only moved a part of my net worth into investments so far.
We now have a 401k at my other business so I will max that out moving forward and do a Backdoor Roth as well.
What I'm looking for feedback on is am I doing this the right way? I am more conservative on my Stock/Bond mix because I also invest about 10% of my money into other businesses which I feel brings my risk level back up to where it should be. I am also at a point where I could with a proper portfolio "retire" but that's not something I want to do at this point.
Appreciate all advice on the subject!
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