{ "media_type": "text", "post_content": "Wife and I are entering our 40’s and I am looking for advice on next steps on building a rounded portfolio and tips managing 401k, 529 for two kids (5&3). Also, looking to start an investment account beyond our emergency savings. I wonder if I should look to a human planner or go at it on my own? The next step I have in mind is to invest 500 to 750 a month into an investment account. What would be a wise place to grow this money? My mind is engineering based so I appreciate any tips! TIA", "post_id": "616b3388bae0070025249846", "reply_count": 6, "vote_count": 1, "bowl_id": "59064a3cb12379001006592c", "bowl_name": "Personal Investment Chatter" }

Wife and I are entering our 40’s and I am looking for advice on next steps on building a rounded portfolio and tips managing 401k, 529 for two kids (5&3). Also, looking to start an investment account beyond our emergency savings. I wonder if I should look to a human planner or go at it on my own? The next step I have in mind is to invest 500 to 750 a month into an investment account. What would be a wise place to grow this money? My mind is engineering based so I appreciate any tips! TIA

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After 401 k , 529s, invest in backdoor Roth IRA. Then whatever you can save do it in brokerage and invest in Broad market based low cost index fund. ( VTSAX, VIGAX, etc.) pick based on what you want. Also, remember Target finds are good but they also have a good percentage of bonds. These days I don’t see much people investing in bonds especially in early 40s. I just invest in index funds and some portion of my money ( less than 10%) on individual stocks based on what my own novice research. I am 45 single

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Income is about 425k combined. Seems the bonds in the target funds for 2045 seem to be 7 to 12% in the target funds.

Do you both have 401k and are you getting at least firm match? If you don’t know what to invest in, do you have good target date fund options? Do you have a sufficient emergency fund? If not keep that in a savings account. Does your state offer deductions for 529? If so make sure you know the rules. I would personally open Iras before a brokerage account if you don’t have them yet. If you need the money reasonably near term a brokerage account might make sense. Just pick a brokerage you like. I use fidelity.

I opened ours at fidelity since that is where my 401k is and I like it in one place. After we were able to fill the Iras, I also opened a brokerage there. You could also look into an HSA if you have a high deductible health insurance. I personally just stick to index funds in my accounts. It makes it easier for me.

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