Welcome to the forum. You are doing a lot of things right. There is room for improvement though.
Emergency funds: 5 Months living expenses (~15k)
Debt: 210k mortgage at 2.5% 30year fixed
These are both very good and some of the things you are doing right.
Tax Filing Status: Married Filing Jointly with Dependent Children
Tax Rate: xx% Federal, xx% State (I'm not sure)
Income: ~ 50k/year
Your tax rate is very low - either bottom of the 12% bracket or top of the 10% bracket depending on some things we don't know.
To check, compare line 15 (taxable income) on your tax return to this chart
http://www.moneychimp.com/features/tax_brackets.htm and then edit your original post with the correct information.
Before going further, it would be good to know if you are getting the saver's credit and the earned income credit on your taxes. If you are, it might be worthwhile to consider using traditional IRA instead of Roth IRA because you might get more of these tax credits.
Also, with kids and the child tax credits, you may be paying almost no tax at all. Would you mind sharing information about that?
Age: 34 (I turn 35 next week)
Desired Asset allocation: xx% stocks / xx% bonds (open to suggestion)
Since you are just starting out, you really have no idea what your tolerance for risk is. Just based on your age, I suggest you start your thinking in the neighborhood of 20% to 35% in bonds.
I'm just starting out with my Roth IRA (should have started 15 years ago). I have roughly $4,500 in a Roth and another $3,000ish that I *foolishly* invested in Titan and I'm trying to Roll over to my main Roth IRA.
Are you saying that the $3,000 in Titan is also in a Roth IRA?
The reason for my post today is to ask if this is a good mix to kind of "catch me up" and hopefully grow to something by retirement age (another 30 years out).
There is nothing you can do to get caught up. All you can do is save money on a regular basis, keep costs low, avoid making stupid mistakes. If you do those things, you will have something to rely on in your later years.
Here's my portfolio:
https://m1.finance/ZhyuhKuInZ9C
For those that don't have M1 it's basically this:
- 70% is "Equities." Within that category is just 2 funds 80% to VTI and 20% to VXUS for some international
- 10% is "conviction picks" which are just a small selection of stocks I like. Maybe this is a waste of my resources? It hold UUUU; AAPL; TSLA; VICI which I have some personal conviction in holding but I'm not a pro stock-picker and could be throwing money away...
- 10% goes to "real estate" which is comprised of 80% VNQ and 20% VNQI (again for int'l exposure)
- 10% is HFEA which I learned from here and I'm sure most of you are familiar. It's the traditional 55/45 for UPRO and TMF
I'm sorry, but the only things you need to keep to keep from all this are the Total Stock Index and the Total International Index.
Individual stocks are riskier than mutual funds. They are a bit of a gamble and you cannot afford that at this point. Even when you have more saved, individual stocks should not be more than maybe 5% of your portfolio (I suggest none). Besides, all those things are probably included in the total stock market index anyway.
You do not need the REITS. REIT stocks are included in the total stock and (I assume but never looked) in the total international index.
You certainly do not need the HFEA. Being new you probably have no idea that HFEA is not considered to be Boglehead type investing. Yes, I know there are many posts and you would have no way of knowing that, but leverage is more like gambling or speculation than investing. You cannot really afford this type of "investment".
Yes, there are Bogleheads who use leverage - I won't say there aren't. But you do not have the income or the savings to be dabbling in those types of things at this point. You need to have some cake underneath before you start on icing and sprinkles.
With this portfolio and working toward a goal of depositing $6,000/year does this allocation seem like it can successfully grow over 30 years and become something worthwhile in retirement?
I recommend that you do not use this portfolio. Use a straightforward simple portfolio of total stock, total international, and a good bond fund (maybe total bond index). You need to concentrate on how much you can save, keeping costs low, and not gambling with things that could cause you to lose money you cannot afford.
Yes, you can successfully grow a simple portfolio for 30 years and have something worthwhile. But you have to understand that the
real driver of all this is how much you save (and keeping costs low).
There is no magic investment, no stock, no leverage, no nothing that will help you more than saving as much as you can and keeping your costs low. You are doing a good job of saving, but what you are investing in needs improvement in my opinion.