Hello Bogleheads,
I need your help! Background: My wife and I (40 years old) are both teachers in Ohio. I have a short term rental/Airbnb (paid off) and this was the first year (paid for itself and then some), and I work a part time job in retail. I have been a saver, but not a great investor so I am considerably behind. Through working I have paid off my vehicle, paid off student loans, the mortgage, and saved up an emergency fund. I have zero debt.I have two kids in which have 529 Plans (4th and 6th grader) with about $4,000 each in them one through my Edward Jones broker in American Funds and the other through a different broker that my wife uses. We have an HSA, which my wife has invested up to the employer match. The school does offer a 403b, but without a match through a broker. I am not sure on the fees associated with it. I have a Roth IRA through Edward Jones which is diversified in different mutual funds through a broker that charges 1%. I checked into the other fees and have eliminated the higher fee investments this year. I set up this year another Roth IRA through Fidelity which is invested in low cost index funds, between them both I maxed them out with $3,500 in each. I plan on leaving Edward Jones in the near future. I also have a standard taxable account through Schwab with $5,000 in it invested in VOO, NVDA, and AAPL. We both will get State Teachers Retirement, which is about half our salary from my understanding.
My aunt recently passed away and I received an unexpected windfall of $210,000 that is sitting in a money market account at 4.2%.
I have worked for the past 4 months reading every finance book I could get my hands on: John Bogle's Guide, Asset Allocation, The Bond Book, and the Simple Path to wealth to name a few. I wanted to educate myself before leaving Edward Jones.
I plan on maxing out my Roth IRA through dollar cost averaging and the use of asset allocation through low cost index funds.
My question is what is the best route to invest the $210,000? I plan on putting around $3,000 a piece in my child's 529 for starters.
Thanks in Advance!
I need your help! Background: My wife and I (40 years old) are both teachers in Ohio. I have a short term rental/Airbnb (paid off) and this was the first year (paid for itself and then some), and I work a part time job in retail. I have been a saver, but not a great investor so I am considerably behind. Through working I have paid off my vehicle, paid off student loans, the mortgage, and saved up an emergency fund. I have zero debt.I have two kids in which have 529 Plans (4th and 6th grader) with about $4,000 each in them one through my Edward Jones broker in American Funds and the other through a different broker that my wife uses. We have an HSA, which my wife has invested up to the employer match. The school does offer a 403b, but without a match through a broker. I am not sure on the fees associated with it. I have a Roth IRA through Edward Jones which is diversified in different mutual funds through a broker that charges 1%. I checked into the other fees and have eliminated the higher fee investments this year. I set up this year another Roth IRA through Fidelity which is invested in low cost index funds, between them both I maxed them out with $3,500 in each. I plan on leaving Edward Jones in the near future. I also have a standard taxable account through Schwab with $5,000 in it invested in VOO, NVDA, and AAPL. We both will get State Teachers Retirement, which is about half our salary from my understanding.
My aunt recently passed away and I received an unexpected windfall of $210,000 that is sitting in a money market account at 4.2%.
I have worked for the past 4 months reading every finance book I could get my hands on: John Bogle's Guide, Asset Allocation, The Bond Book, and the Simple Path to wealth to name a few. I wanted to educate myself before leaving Edward Jones.
I plan on maxing out my Roth IRA through dollar cost averaging and the use of asset allocation through low cost index funds.
My question is what is the best route to invest the $210,000? I plan on putting around $3,000 a piece in my child's 529 for starters.
Thanks in Advance!
Statistics: Posted by teacherman1713 — Fri Jan 03, 2025 12:16 pm — Replies 4 — Views 231