How to optimize?
Ok, 34M, married, 4 kids. Income about $250k/year. What adjustments should/can I make to enable a comfy retirement by 54? If I had an extra $1,000/month where should it go?
- $91k in Roth IRA & various stocks (haven’t contributed in a bit due to income limits?)
- About $175k in 401k (split between companies, should I consolidate? They are company managed and no rush to get off unless there’s a good reason)
- contributing 10% into traditional 401k, with 4% match currently. If I hit limit (income may fluctuate due to commission), will put all into a traditional IRA and backdoor into the Roth.
-maxing out HSA each year.
- side note: contribute $100/month for each child into 529 and managed investment accounts.
Nobody has ever taught me so it’s just been gut feel so far, but seeking advice on optimization to enable me to at least chart a path to a potential fire. TIA.