exitworldwide
New member
Hi!
I was wondering what other ways to maximize retirement or even what else to do at this point. I have looked through the flowchart and I checked a lot of the boxes. (No plans to buy house in the near future, maybe a M.B.A at some point but the goal is an in-state school, 0 plans to retire early will be working till 65.)
Quick background: Investment Banker
- Salary: $180K a year with 50% bonus of base salary minimum guaranteed. (Monthly Spending with Fixed & Variable cost totals to $4.3K; I believe I could cut this down if I lived further away but due to work I'd prefer to live close to the office)
- Area: MCOL area
See below for Assets / Liabilities breakdown:
Assets -
Cash:
- Checking Account: $6K (Excess Cash Flow Sweep to savings at the end of the month then placed into retirement accounts when bonus is paid out)
- High Yield Savings Account: $16.5K
Marketable Securities:
- Simple IRA / Rollover IRA: ~$68.2K (Located in FFSFX & AAOTX) contributions since 2017 (now maxing yearly)
- ROTH IRA: ~$36.2K (Located in FFSFX) Contributions since 2017 probably will not be able to contribute anymore unless I back door?
- Brokerage: ~$38.7K (Located in FFSFX & FDEEX) Contributions since 2022
- HSA: $1.2K from prior health insurance don't quality to contribute anymore
PP&E:
- Ford Bronco: ~$22.4K estimating depreciation at 4.5% Y-o-Y
Liabilities -
- $5.2K Student Loans (4.2% Interest Rate - paying minimum till maturity: 9.5 years remaining)
- $19.4K Ford Bronco: (2.1% Interest Rate - paying minimum till maturity: 4 years remaining)
I was wondering what other ways to maximize retirement or even what else to do at this point. I have looked through the flowchart and I checked a lot of the boxes. (No plans to buy house in the near future, maybe a M.B.A at some point but the goal is an in-state school, 0 plans to retire early will be working till 65.)
Quick background: Investment Banker
- Salary: $180K a year with 50% bonus of base salary minimum guaranteed. (Monthly Spending with Fixed & Variable cost totals to $4.3K; I believe I could cut this down if I lived further away but due to work I'd prefer to live close to the office)
- Area: MCOL area
See below for Assets / Liabilities breakdown:
Assets -
Cash:
- Checking Account: $6K (Excess Cash Flow Sweep to savings at the end of the month then placed into retirement accounts when bonus is paid out)
- High Yield Savings Account: $16.5K
Marketable Securities:
- Simple IRA / Rollover IRA: ~$68.2K (Located in FFSFX & AAOTX) contributions since 2017 (now maxing yearly)
- ROTH IRA: ~$36.2K (Located in FFSFX) Contributions since 2017 probably will not be able to contribute anymore unless I back door?
- Brokerage: ~$38.7K (Located in FFSFX & FDEEX) Contributions since 2022
- HSA: $1.2K from prior health insurance don't quality to contribute anymore
PP&E:
- Ford Bronco: ~$22.4K estimating depreciation at 4.5% Y-o-Y
Liabilities -
- $5.2K Student Loans (4.2% Interest Rate - paying minimum till maturity: 9.5 years remaining)
- $19.4K Ford Bronco: (2.1% Interest Rate - paying minimum till maturity: 4 years remaining)