Hi A new Bogehead looking for some practical advice on getting started investing. I understand the concepts behind the 3 fund portfolio, and plan on moving forward with it. Here are some facts on my situation, some with accompanying questions: 1) I am 31, married, with 3 young children. My wife is stay-at-home mom. 2) We live in a very low cost of living area, and live on a pretty low budget. 3) We owe $72k on a home worth $125k. 4) We rent out a duplex. We owe $73k, it is worth probably $105k 5) I will be eligible for my company 401k in 2 months time. I plan on putting in the 4% to get the full 2% match. 6) I would like to open a Roth IRA for me. Our income falls within the guidelines. 7) As I said, my wife is a stay-at-home mom. We can open a Roth IRA for her, correct ("spousal IRA?")? 8) After opening and maxing out the retirement accounts, I'd next like to open a taxable brokerage account. 9) I took the Vanguard questionnaire and got an allocation of 80 stocks/20 bonds. 10) After doing research, it seems Vanguard, Fidelity, and Schwab are the best for passive, long term, low fee investing. I am biased toward Vanguard since a lot of the (limited) knowledge I've gained is through them and this forum. It seems Schwab is the best for someone started out without a lot of funds to work with. Fidelity seems really solid overall. Please feel free to address any of those comments. Help me choose where to open my accounts. 11) What do you recommend as far as spreading the 3 fund portfolio among multiple accounts (a 401k, (2) Roth IRAs, a brokerage account or two). I know that taxes come into play. 12) Next on the list, after maxing out the 401k, IRA(s), and opening the brokerage account, is to put money away for the kids' college. I am familiar with 529 plans, using the $ in the Roth, etc, but would like to hear what you would do if you were just getting started in that area. We live in Pennsylvania, if that matters. Thank you for taking the time to read this lengthy post. I look forward to participating in the forum, and am grateful for any help given.
Please help.
I didn't find the right solution from the Internet.
morinmorin replied
386 weeks ago