Please be gentle! I am very much of a novice.
I hope I did the format correctly and everything is clear. If not, let me know what to revise. I had a late start due to schooling and trying to pay down student loans. Overall, I want to know if and where I should make any changes. I also want to know if it is realistically possible to hit 300k total in my retirement accounts by the end of the year. Thank you all for the help in advance.
Emergency funds: 27k
Debt: 76k in student loan (have made all 120 payments for PSLF. will be officially forgiven in 1-2 months aka whenever they finish processing my form), 350k on mortgage
Tax Filing Status: Single
Tax Rate:
24% Federal
6% State
State of Residence: MD
Age: 41
Desired Asset allocation: 90-95% stocks/5-10% bond
Total retirement portfolio size: approximately 220k.
Current retirement assets:
TSP
2% F Fund (0.048)
70% C Fund (0.048)
19% S Fund (0.048)
9% I Fund (0.048)
100% match on 1st 3%, 50% match on next 2%. I started contributing to the max this year
Former Job 401k
44.32% VANGUARD MID CAP INDEX FUND VIMAX (0.05)
42.33% VANGUARD SMALL CAP INDEX FUND VSMAX (0.05)
13.35% VANGUARD TOTAL BD MRK IDX ADM VBTLX (0.05)
Roth IRA at Vanguard
0.68% VANGUARD RUSSELL 1000 GROWTH INDEX FD ETF SHS (VONG) (0.08)
11.28% VANGUARD HEALTH CARE ETF (VHT) (0.10)
11.02% VANGUARD CONSUMER STAPLES ETF (VDC) (0.10)
20.11% VANGUARD TOTAL STOCK MARKET ETF (VTI) (0.03)
6.01% VANGUARD TOTAL BOND MARKET ETF (BND) (0.03)
6.78% VANGUARD TOTAL INTL STOCK INDEX FUND ETF (VXUS) 6.78% (0.08)
12.93% AMERICAN EXPRESS CO. (AXP)
8.43% EXXON MOBIL CORP (XOM)
17.60% META PLATFORMS INC CL A (META)
5.03% NVIDIA CORP (NVDA)
0.13% VANGUARD HIGH DIVIDEND YIELD ETF (VYM) (0.06) (sold all my shares)
Started contributing the max last year.
Questions:
1. I am considering throwing the funds I have from selling VYM into VONG. Is this a prudent move or unneeded because I have VTI?
2. Are my funds too redundant?
3. Is it realistically possible to hit 300k before 2025? If so, what changes do I need to do?
4. Am I on the right track to retire with at least $1.5mil?
I hope I did the format correctly and everything is clear. If not, let me know what to revise. I had a late start due to schooling and trying to pay down student loans. Overall, I want to know if and where I should make any changes. I also want to know if it is realistically possible to hit 300k total in my retirement accounts by the end of the year. Thank you all for the help in advance.
Emergency funds: 27k
Debt: 76k in student loan (have made all 120 payments for PSLF. will be officially forgiven in 1-2 months aka whenever they finish processing my form), 350k on mortgage
Tax Filing Status: Single
Tax Rate:
24% Federal
6% State
State of Residence: MD
Age: 41
Desired Asset allocation: 90-95% stocks/5-10% bond
Total retirement portfolio size: approximately 220k.
Current retirement assets:
TSP
2% F Fund (0.048)
70% C Fund (0.048)
19% S Fund (0.048)
9% I Fund (0.048)
100% match on 1st 3%, 50% match on next 2%. I started contributing to the max this year
Former Job 401k
44.32% VANGUARD MID CAP INDEX FUND VIMAX (0.05)
42.33% VANGUARD SMALL CAP INDEX FUND VSMAX (0.05)
13.35% VANGUARD TOTAL BD MRK IDX ADM VBTLX (0.05)
Roth IRA at Vanguard
0.68% VANGUARD RUSSELL 1000 GROWTH INDEX FD ETF SHS (VONG) (0.08)
11.28% VANGUARD HEALTH CARE ETF (VHT) (0.10)
11.02% VANGUARD CONSUMER STAPLES ETF (VDC) (0.10)
20.11% VANGUARD TOTAL STOCK MARKET ETF (VTI) (0.03)
6.01% VANGUARD TOTAL BOND MARKET ETF (BND) (0.03)
6.78% VANGUARD TOTAL INTL STOCK INDEX FUND ETF (VXUS) 6.78% (0.08)
12.93% AMERICAN EXPRESS CO. (AXP)
8.43% EXXON MOBIL CORP (XOM)
17.60% META PLATFORMS INC CL A (META)
5.03% NVIDIA CORP (NVDA)
0.13% VANGUARD HIGH DIVIDEND YIELD ETF (VYM) (0.06) (sold all my shares)
Started contributing the max last year.
Questions:
1. I am considering throwing the funds I have from selling VYM into VONG. Is this a prudent move or unneeded because I have VTI?
2. Are my funds too redundant?
3. Is it realistically possible to hit 300k before 2025? If so, what changes do I need to do?
4. Am I on the right track to retire with at least $1.5mil?
Statistics: Posted by cobalt money — Wed Jul 31, 2024 8:47 pm — Replies 0 — Views 126