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|Subject: Am I on the right path?||Date: 8/18/2009 1:45 PM|
|Author: micknavy45||Number: 226 of 290|
So I know I could pay a financial analyst a couple hundred dollars to tell me if I'm on the right path.
I figured I would ask you instead, here is my info:
I'm 27 years old.
In a secure job(knock on wood) and gross about $110,000/yr
I contribute the max to my traditional 401k and my company matches 100% up to 4% contribution. I have been here 2 years and have $29000 in the 401K. It is 80$ domestic equities, 15% international equities. The rest a mix.
I have a Roth IRA worth $18,500 that I also max out every year. It has 2 mutual funds Vanguard 2045 target fund(VTIVX)-$13,500 and USAA precious metals fund(USAGX)-$5,000
I have a Flexible Retirement Annuity worth $9300 that I contribute $100 to every 2 weeks. Current Interest Rate 3.500% Effective Annual Rate 4.305% Guaranteed Minimum Rate 2.75%
I have an Emergency Fund worth $8100 that I contribute $100 every 2 weeks too. I think I need to keep growing this.
I have no credit card debt, no truck payment.
I have a mortgage of $304,000 as of this month, my monthly payment is $2500. I am refinancing right now to a 5.250% rate which will save me approx $230/month and I don't plan on moving any time soon, so I will pay off the closing costs.
I don't have a lot of monthly expenses, probably about $700(utilities, TV, food, beer, etc)
Any ideas on how I can improve? Or am I on the right path?
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