Hello! I am 29 making $87k, and my wife is 28 making $55k (part time) - so just over $140k household. I have been the grateful consumer of knowledge on here ranging over several different topics, but I thought I would make things simpler by asking for advice in one place and.. well, simplifying my portfolio.
I have a taxable account that my parents set up for me with my grandparents' wealth management guy, and my wife has a similar deal with her mom's guy. As much as I like supporting friends of the family, I think I'd like to consolidate things and go with a three-fund approach type of deal. I am also aware that my 401k holdings are all over the place - a combination of advice I got when I started my first job and several rollovers since then I think.
Emergency funds: Six months of expenses in HYSA (4.6% APY) and Credit Union (For local bank stuff)
Debt: 170k left on mortgage, 2.375% Interest rate
Tax Filing Status: Married Filing Jointly
Tax Rate: 22% Federal, 5% State
State of Residence: Alabama
Age: 29
Desired Asset allocation: 90% stocks / 10% bonds (? - Open to suggestions)
Desired International allocation: 20% of stocks
Portfolio size: 255k
Current retirement assets
His Taxable
1.04% Cash
0.81% Franklin Small-Mid Cap Growth (FRSGX) (0.90%)
0.99% Franklin Rising Dividends Fund Class A (FRDPX) (0.84%)
3.96% Franklin Growth Series Class A (FKGRX) (0.80%)
1.57% Franklin DynaTech Fund Class A (FKDNX) (0.83%)
Her Taxable
29.51% JPMorgan Equity Income Fund Class C (OINCX) (1.45%)
0.18% Cohen & Steers Total Return Realty (RFI) (1.34%)
His 401k
2.69% Fidelity Nasdaq Composite Index Fund (FNCMX) (0.29%)
1.85% American Funds American Balanced Fund Class R-3 (RLBCX) (0.90%)
1.35% Fidelity Total Market Index Fund (FSKAX) (0.015%)
1.31% Victory Sycamore Established Value Fund Class A (VETAX) (0.90%)
1.09% Fidelity Small Cap Index Fund (FSSNX) (0.03%)
0.77% American Funds New World Fund Class R-3 (RNWCX) (1.22%)
0.62% Principal MidCap S%P 400 Index Fund R-1 Class (PMSSX) (1.04%)
0.62% Fidelity Spartan Int'l Index Fund Fidelity Advantage Class (FSIVX) (0.12%)
0.61% Fidelity Advisor Freedom 2060 Fund - Class M (FDKTX) (1.25%)
0.59% Eaton Vance High Income Opportunities Fund Class A (ETHIX) (0.95%)
0.52% Fidelity U.S. Bond Index Fund (FXNAX) (0.025%)
0.30% Fidelity Emerging Markets Index Fund (FPADX) (0.07%)
Company match: 3%
Her 401k
37.48% NGSP 2060 Retirement Path Fund (?) (0.06%)
|Note: This appears to be made up of the following:
|37.54% State St Gbl All Cp Eq ex-US Idx NL Cl A (SSGHX)
|37.15% State St S%P 500 Index NL Cl A (SVSPX)
|16.04% State St Russell Sm/Mid Cp Indy NL Cl A (SSMJX)
|9.27% State St US Lg Gov Bnd Indx NL Cl A (?)
Company match: 7%
His Roth IRA at Fidelity
4.42% Fidelity Total Market Index Fund (FSKAX) (0.015%)
0.33% Fidelity U.S. Bond Index Fund (FXNAX) (0.025%)
1.44% Fidelity Total International Index Fund (FTIHX) (0.06%)
1.92% Fidelity Zero Large Cap Index Fund (FNILX) (0.00%)
0.95% Fidelity Zero Total Market Index Fund (FZROX) (0.00%)
His and Her HSA at Fidelity
2.41% Cash (Haven't got around to investing these yet)
Child 529 at Fidelity
0.26% NH Total Market Index
0.04% NH Spartan 500 Index
0.02% NH Intermediate Treasury Index
0.05% NH International Index
Child Custodial at Fidelity
0.28% Cash (Haven't invested yet)
_______________________________________________________________
Contributions
New annual Contributions
$13k his 401k (Employer match $2.6k)
$5.5k her 401k (Employer match $3.9k)
$8.3 her HSA
Available funds
Funds available in his 401(k)
Fidelity NASDAQ Composite Index Fund (FNCMX) (0.29%net, 0.34%gross)
Fidelity Total Market Index Fund (FSKAX) (0.015%)
Principal MidCap S&P 400 Index Fund R-1 Class (PMSSX) (1.04%)
Victory Sycamore Established Value Fund Class A (VETAX) (0.90%)
Fidelity Small Cap Index Fund (FSSNX) (0.025%)
American Funds New World Fund Class R-3 (RNWCX) (1.22%)
Fidelity Emerging Markets Index Fund (FPADX) (0.075%)
Fidelity International Index Fund (FSPSX) (0.035%)
American Funds American Balanced Fund Class R-3 (RLBCX) (0.89%)
Fidelity Advisor Freedom 2060 Fund Class M (FDKTX) (1.25%)
Eaton Vance High Income Opportunities Fund Class A (ETHIX) (0.95%)
Fidelity U.S. Bond Index Fund (FXNAX) (0.025%)
Funds available in her 401(k)
2020 Retirement Path -> 2065 Retirement Path (0.06%)
Northrop Grumman Stock Fund (NOC) (0.03%)
NGSP U.S. Equity Fund (Basically S&P500) (0.02%)
NGSP Small Cap Equity Fund (Basically Russell 2000 Index (RUT)) (0.03%)
NGSP Emerging Markets Equity Fund (Basically MSCI EM Index (MSCIEF)) (0.09%)
NGSP International Equity Fund (Basically MSCI EAFE (EFA)) (0.05%)
NGSP Balanced Fund (?) (0.05%)
NGSP Stable Value Fund (?) (0.27%)
NGSP U.S. Fixed Income (Basically Bloomberg US Aggregate Bond Index "The Agg") (0.03%)
Questions:
1. Should I sell off the taxable accounts to support raising our contributions to fully fund our 401k's? Seems like the smart thing to do with the tax advantages of 401k and high ER/costs of the taxable accounts.
2. Should I use the taxables to contribute to my Roth IRA and look at opening one for my wife as well? Again, seems like it makes sense - and I like the thought of continuing to contribute to both pre-tax and after-tax accounts given the uncertainty of future tax rates and retirement income.
3. General recommendations for which funds and what percentages of each for their respective accounts would be very helpful. I think I haven't done much to rebalance things for a while because I am overwhelmed by all the options - including the simple choices like zero fee Fidelity index funds vs the regular low fee Fidelity index funds lol.
Thank you if you took the time to read all of this and offer any suggestions. I had a meeting with a financial advisor from Empower after I started using their dashboard post-Mint (RIP). I don't think I need to pay them for their wealth management services, but their free dashboard has actually been nice to see my different holdings and allocations all in one place. And it has empowered me to put this all together and try tackling it myself, so thanks again for the help!![:D]( "Very Happy")
I have a taxable account that my parents set up for me with my grandparents' wealth management guy, and my wife has a similar deal with her mom's guy. As much as I like supporting friends of the family, I think I'd like to consolidate things and go with a three-fund approach type of deal. I am also aware that my 401k holdings are all over the place - a combination of advice I got when I started my first job and several rollovers since then I think.
Emergency funds: Six months of expenses in HYSA (4.6% APY) and Credit Union (For local bank stuff)
Debt: 170k left on mortgage, 2.375% Interest rate
Tax Filing Status: Married Filing Jointly
Tax Rate: 22% Federal, 5% State
State of Residence: Alabama
Age: 29
Desired Asset allocation: 90% stocks / 10% bonds (? - Open to suggestions)
Desired International allocation: 20% of stocks
Portfolio size: 255k
Current retirement assets
His Taxable
1.04% Cash
0.81% Franklin Small-Mid Cap Growth (FRSGX) (0.90%)
0.99% Franklin Rising Dividends Fund Class A (FRDPX) (0.84%)
3.96% Franklin Growth Series Class A (FKGRX) (0.80%)
1.57% Franklin DynaTech Fund Class A (FKDNX) (0.83%)
Her Taxable
29.51% JPMorgan Equity Income Fund Class C (OINCX) (1.45%)
0.18% Cohen & Steers Total Return Realty (RFI) (1.34%)
His 401k
2.69% Fidelity Nasdaq Composite Index Fund (FNCMX) (0.29%)
1.85% American Funds American Balanced Fund Class R-3 (RLBCX) (0.90%)
1.35% Fidelity Total Market Index Fund (FSKAX) (0.015%)
1.31% Victory Sycamore Established Value Fund Class A (VETAX) (0.90%)
1.09% Fidelity Small Cap Index Fund (FSSNX) (0.03%)
0.77% American Funds New World Fund Class R-3 (RNWCX) (1.22%)
0.62% Principal MidCap S%P 400 Index Fund R-1 Class (PMSSX) (1.04%)
0.62% Fidelity Spartan Int'l Index Fund Fidelity Advantage Class (FSIVX) (0.12%)
0.61% Fidelity Advisor Freedom 2060 Fund - Class M (FDKTX) (1.25%)
0.59% Eaton Vance High Income Opportunities Fund Class A (ETHIX) (0.95%)
0.52% Fidelity U.S. Bond Index Fund (FXNAX) (0.025%)
0.30% Fidelity Emerging Markets Index Fund (FPADX) (0.07%)
Company match: 3%
Her 401k
37.48% NGSP 2060 Retirement Path Fund (?) (0.06%)
|Note: This appears to be made up of the following:
|37.54% State St Gbl All Cp Eq ex-US Idx NL Cl A (SSGHX)
|37.15% State St S%P 500 Index NL Cl A (SVSPX)
|16.04% State St Russell Sm/Mid Cp Indy NL Cl A (SSMJX)
|9.27% State St US Lg Gov Bnd Indx NL Cl A (?)
Company match: 7%
His Roth IRA at Fidelity
4.42% Fidelity Total Market Index Fund (FSKAX) (0.015%)
0.33% Fidelity U.S. Bond Index Fund (FXNAX) (0.025%)
1.44% Fidelity Total International Index Fund (FTIHX) (0.06%)
1.92% Fidelity Zero Large Cap Index Fund (FNILX) (0.00%)
0.95% Fidelity Zero Total Market Index Fund (FZROX) (0.00%)
His and Her HSA at Fidelity
2.41% Cash (Haven't got around to investing these yet)
Child 529 at Fidelity
0.26% NH Total Market Index
0.04% NH Spartan 500 Index
0.02% NH Intermediate Treasury Index
0.05% NH International Index
Child Custodial at Fidelity
0.28% Cash (Haven't invested yet)
_______________________________________________________________
Contributions
New annual Contributions
$13k his 401k (Employer match $2.6k)
$5.5k her 401k (Employer match $3.9k)
$8.3 her HSA
Available funds
Funds available in his 401(k)
Fidelity NASDAQ Composite Index Fund (FNCMX) (0.29%net, 0.34%gross)
Fidelity Total Market Index Fund (FSKAX) (0.015%)
Principal MidCap S&P 400 Index Fund R-1 Class (PMSSX) (1.04%)
Victory Sycamore Established Value Fund Class A (VETAX) (0.90%)
Fidelity Small Cap Index Fund (FSSNX) (0.025%)
American Funds New World Fund Class R-3 (RNWCX) (1.22%)
Fidelity Emerging Markets Index Fund (FPADX) (0.075%)
Fidelity International Index Fund (FSPSX) (0.035%)
American Funds American Balanced Fund Class R-3 (RLBCX) (0.89%)
Fidelity Advisor Freedom 2060 Fund Class M (FDKTX) (1.25%)
Eaton Vance High Income Opportunities Fund Class A (ETHIX) (0.95%)
Fidelity U.S. Bond Index Fund (FXNAX) (0.025%)
Funds available in her 401(k)
2020 Retirement Path -> 2065 Retirement Path (0.06%)
Northrop Grumman Stock Fund (NOC) (0.03%)
NGSP U.S. Equity Fund (Basically S&P500) (0.02%)
NGSP Small Cap Equity Fund (Basically Russell 2000 Index (RUT)) (0.03%)
NGSP Emerging Markets Equity Fund (Basically MSCI EM Index (MSCIEF)) (0.09%)
NGSP International Equity Fund (Basically MSCI EAFE (EFA)) (0.05%)
NGSP Balanced Fund (?) (0.05%)
NGSP Stable Value Fund (?) (0.27%)
NGSP U.S. Fixed Income (Basically Bloomberg US Aggregate Bond Index "The Agg") (0.03%)
Questions:
1. Should I sell off the taxable accounts to support raising our contributions to fully fund our 401k's? Seems like the smart thing to do with the tax advantages of 401k and high ER/costs of the taxable accounts.
2. Should I use the taxables to contribute to my Roth IRA and look at opening one for my wife as well? Again, seems like it makes sense - and I like the thought of continuing to contribute to both pre-tax and after-tax accounts given the uncertainty of future tax rates and retirement income.
3. General recommendations for which funds and what percentages of each for their respective accounts would be very helpful. I think I haven't done much to rebalance things for a while because I am overwhelmed by all the options - including the simple choices like zero fee Fidelity index funds vs the regular low fee Fidelity index funds lol.
Thank you if you took the time to read all of this and offer any suggestions. I had a meeting with a financial advisor from Empower after I started using their dashboard post-Mint (RIP). I don't think I need to pay them for their wealth management services, but their free dashboard has actually been nice to see my different holdings and allocations all in one place. And it has empowered me to put this all together and try tackling it myself, so thanks again for the help!
Statistics: Posted by tonescarp — Wed Mar 27, 2024 1:02 am