Anonymous wrote:Have you been maxing out since college in a 401K? What assets do you hold in your retirement accounts? What's your annual strategy for contributions? 401K? Pension? IRA? Backdoor? Frontdoor?
Congrats.
Thanks all for the congratulations!
Our income is low enough that we can contribute to Roth IRAs directly and I've been doing that since I was a teenager before college and we've both always maxed those out. DH has a 403b, has been contributing at least 15% since college plus employer contributions. I have 403b and generally contribute 20%. I usually don't quite max them out but for a few years early on I had a 403b and a 457 and no housing costs (international job with a US public university) and I was able to max them both and that really gave me a great start.
I stick to mainly total market index funds, but in the Roth IRA/rollover IRAs I do have a few individual stock picks--a few have done very well but mostly so-so and a few stinkers. Overall our current portfolio is about 70% in stocks, 30% bonds/cash (mainly individual short-term treasury bills lately rather than bond indices just because of all the rate craziness.
Neither of us have a pension, but we don't have that high of living expenses either (a little under 6k/month not including stuff taken out of our checks--taxes, insurance etc) so I think we should have plenty in retirement. I love my job and plan to work until I'm 70 if I can. DH is planning on retiring fairly soon to start his own business.
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