Hello,
I recently got into investing and want to setup my young family for the future. I have an active 401k with my employer and just opened up a brokerage account (Vanguard) to learn and invest a little post tax. Please provide me with any tips/advice on what I plan to do..
1) Stay at home wife has a 401k with her old company, small balance like $3500. It’s been just sitting there for years doing nothing but I want to take hold of it and roll it over into an IRA with Vanguard. Plan on investing monthly in small amounts until I pay off all high interest debt. Anything I should change here?
2) Have a 4yr and 4 week old sons. I want to open them up 529 accounts to seed monthly small amounts, again until I pay off all high interest debt. Would you invest in index funds like VOO or just use target date funds (set it and forget it)? Also I should make them two separate accounts correct?
3) For myself I have a 401k that has 9%match with my company. Is there any benefit other than learning to contribution to a post tax brokerage account or should every penny go towards the 401k? My plan with the brokerage account is to buy and hold long term, with emphasis on dividend paying stocks/index funds.
Appreciate any help.
Submitted October 01, 2023 at 09:10AM by skatpex99 https://ift.tt/Rk9sjI5
