Hello everyone,

I was wondering if I could get some portfolio and financial situation advice and advice on how to best move forward. We are 2 physician/surgeon couple (me-early 40’s, her- mid-30s) both W2 employees and working full time. We live in a very HCOL area. We purchased our primary residence in 2013 well and it has appreciated well. We do need more space as our family grew last year, but probably won’t be moving for a while given current housing prices in our market. We have 2 kids (7 and 1). Here is the financial picture:

Pre-tax:

Me (MassMutual: 401K: VBMFX- 25%, VISGX- $25%, VIMSX- 25%, VUVLX- 25% ($280,000)

Her (Fidelity): 401A- VBTIX- 25%, VMCIX- 17%, VSCIX- 17%, VTSNX- 18%, VINIX- 23% ($55,000)

403B- VBTIX- 28%, VMCIX- 18%, VSCIX- 17.5%, VTSNX- 17.5%, VINIX- 19% ($68,000)

457-  VBTIX- 25.5%, VMCIX- 17.5%, VSCIX- 17 %, VTSNX- 17%, VINIX- 23% ($47,000)

Old DC/403B- $24,000 in pathway 2050 target fund.

 

Post-Tax:

Vanguard: VBLTX- 36%, VTIAX- 27.5%, VTSAX- 36.5% ($71,000) Currently, not doing any additional contributions.

Betterment: currently 70/30 asset allocation ($115,000). We are currently contributing $6000/month.

 

Roth:

Me (Vanguard): VBMFX- 24.5%, VGTSX- 36%, VTSMX- 39.5% ($25,000)

Her (Vanguard): VBMFX- 22%, VGTSX- 38%, VTSMX- 40% ($25,000)

 

2 UTA 529s: $50,000 for older kid and contributing $1000/month. Just started another for one year old with same contribution.

 

Student loans: Me: $58,000 consolidated at 1.6%, paying $350/month and planning to pay forever. Her: none.

 

We have a trust, living will, OODI, TL and umbrella insurance for each one of us.

 

Own primary residence; $950,000 left on mortgage, 30 year fixed at 3.3%. Current value-$1.9M. Not paying anything extra, but probably should.

 

Emergency fund: $200,000 sitting in bank savings at 0.1% (I know I am going to get comments about this one).

 

Side business: we both do some medlegal work/industry consulting and had approximately $40,000 1099 income last year, but this varies. We do have an S corp for side business. Do not currently have solo 401K.

 

Goal is to hopefully slow down by 55 and fully retire by 60, but this may change as the healthcare system is rapidly changing for the worse.

 

Questions:

  1. I’ve read on here that it’s not a good idea to keep bonds in taxable. I wanted to exchange Total Bond Market Fund for a muni bond of some sort. Which one would you recommend?

  2. Now that I look at it, portfolio looks too complex. How would you simplify it?

  3. What would recommend for EF other than sitting in checking account (I’ve heard good things about Ally bank)?

  4. We don’t have any real estate exposure in our portfolio. Any REITs or crowdfunding RE investments I should be looking at?

  5. Any other general advice/comments?


 

TIA!