Specific actions that I am contemplating are:
- Changing our Target Date funds from 2035 to 2045 or maybe even move it to a 3 or 4 fund portfolio.
- Consolidating my wife's inheritance from Target Income and Wellesley to Balanced Index.
- Re-starting contributions to the 529 plans to help pay for private school
- Increasing joint taxable contributions from $750 to $1,000 bi-weekly
- $29,245 - Fidelity Brokerage Account. Paychecks deposited here and all bills paid out of this account
- Primary Residence: $6,396 @ 3.375% (Home valued at ~$125,000)
- Rental Property 1: $68,624 @ 3.00% (Home valued at ~$165,000)
- Rental Property 2: $18,363 @ 3.125% (Home valued at ~$95,000)
- Scag ZT Lawnmower: $6,026 @ 0% (My old PUSH lawn mower broke this year. Getting older and ready for a riding one!)
- I have no other debt and all credit cards are paid in full monthly.
- Me - 40
- Wife - 46
- Tax Filing Status: Married Filing Jointly
- Tax Rate: 22% Federal, 6% State
- State of Residence: Georgia, USA
- Me: Net - $2,077 every/other week
- Wife: Net - $3,189 net monthly
- Rental Property 1: $995 gross monthly
- Rental Property 2: $650 gross monthly
- Work Fidelity 401k - $154,127 - All in BlackRock LifePath Index 2035 A (LIJAX)
- Roth Vanguard IRA - $104,668 - All in Vanguard Target Retirement 2035 Fund Investor Shares - VTTHX
- Trdtl Vanguard IRA - $69,865 - All in Vanguard Target Retirement 2035 Fund Investor Shares - VTTHX
- Path2College 529 Accounts: $52,293 value. Spread among 3 kids. All invested in appropriate age based target mutual funds. No current active contributions.
My Active contributions:
- $18,500 to 401k yearly
- $5,500 to Roth IRA yearly
- Taxable Vanguard - $41,081 - Inheritance. Conservatively invested in half/half Vanguard Target Retirement Income Fund Investor Shares (VTINX) and Vanguard Wellesley Income Fund Investor Shares (VWINX)
- Roth Vanguard IRA - $40,226 - All in Vanguard Target Retirement 2035 Fund Investor Shares - VTTHX
- Trdtl Vanguard IRA - $29,844 - All in Vanguard Target Retirement 2035 Fund Investor Shares - VTTHX
- GA Teacher Retirement System (TRS) - Current contributions total $57,379. From TRS website "Your retirement benefit is calculated by using the percentage of salary formula. Simply stated, two percent is multiplied by your years of creditable service, including partial years (not to exceed 40 years). This product is then multiplied by your average monthly salary for your two highest consecutive years of membership service. Your benefit calculation is based on the 2 highest consecutive years of membership service that produce the highest benefit, which may not be your last years worked. The salary used to calculate your benefit may be limited if increases in your salary are above what is allowed by Georgia law."
Wife's Active contributions:
- $5,500 to Roth IRA yearly
- Max allowed yearly by law to GA TRS
- Taxable Vanguard - $62,503 - Somewhat conservatively invested in Vanguard Balanced Index Fund Admiral Shares (VBIAX)
Joint's Active contributions:
- $750 every/other week