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Reply to "HH retirement accounts just crossed 2m!"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]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.[/quote] 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.[/quote] Bullshit. OP is lying. Roth IRAs came out in 1998 but op claims s/he is in his/her 50s and contributing to a Roth since op was a teen. Op was last a teen no later than 1997 which is before Roth IRAs existed. And that presumes op is exactly 50. What a strange thing to lie about. Especially when it is demonstrably false. [/quote] I'm OP--I didn't mean to be lying, I thought it was the Roth I started contributing to as a teen but I definitely wasn't a teen in 1998--I was 25. I contributed to something for retirement on the basis of the advice of my dad as a teen---maybe a traditional IRA? . I still have both a traditional IRA and a Roth IRA in Vanguard so it's probably that--I couldn't remember why I even had the traditional IRA. And I was contributing to a Roth as soon as it was available. And fwiw I'm 51 and DH is 55. [/quote]
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