| Long term investing guidance for twenty somethings |
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oldguy
Senior Member
Cash: $ 751.85
Posts: 3656
Joined: 21 May 2006
Location: arizona
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quote:
Roth IRA-$20K
Trad IRA-$2.9K
Regular Taxable Brokerage-$7.7K
Cash Money Market-$8K
Work 401K -- $20k
Wells Regular Brokerage- 20K
Checking/savings-appox 5K
Sum $83,600
I would move the $8k and the WF $20k to your Taxable account.
I don't really see the point of the $2.9k TIRA, it is invested the same as the SP500 in the 401k. It's redundant - but harmless.
quote:
Continue to Contribute 15% to 401K matched 3% by employer
Max out Roth?
Remaining savings in Regular taxed account?
5-10 years out. Fund mba while working full time. Purchase house... From IRA????/
Yes - yes - yes - no. I would use the taxable account for the mba & the house dp IF you need to. But only if you can't get cheap longterm loans to fund them. Eg, you could take $50k out of your taxable account for a DP. Or, you could leave the $50k in the account at 11%/yr and grow it to $1,150,000 in 30 yrs, and borrow that $50k as part of your 30 yr 4% mortgage where it will cost $239/m, ie $86,000 (way less than the million).
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Fri Aug 24, 2012 11:35 pm |
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Dubya123
Contributing Member
Cash: $ 5.85
Posts: 28
Joined: 28 Sep 2011
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Well the 20K WF account is currently a taxable account. Just separate from the Vanguard taxable accounts. Does it matter if they are both taxable?
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Tue Sep 04, 2012 8:42 pm |
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Dubya123
Contributing Member
Cash: $ 5.85
Posts: 28
Joined: 28 Sep 2011
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And I believe that the $2.9K in the TIRA was a 11th hour contribution in 2011 to lower my taxable income (suggested by my accountant as I don't have any mortgage's to deduct). If I recall it was in effort to avoid owing taxes? Sound right?
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Tue Sep 04, 2012 8:50 pm |
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