I’ve been trying to save away enough to open a Roth IRA through Vanguard and should be able to around the beginning of 2017. I am a newly turned 30 year old that is contributing to my company’s 401K. That is currently sitting around the $38k range thanks to the recent stock market rise. I’m no where close to maxing out my 401K, though. This year I will be putting in 11% (of a roughly $60,000 salary) into it, with a company match of up to $2,000.
My thought process is to open the Roth and probably only be able to put around $100 a month into it (again wouldn’t be maxing this out either). The intent is more of an “out of sight, out of mind” type mentality and just let it do its thing. I’m married with no kids, but we are working on having a bigger emergency fund also. The only debt we have are cars, mortgage, and my really awesome student loans so we do have some wiggle room to make this happen.
I guess I’m just looking for some confirmation that this is the right idea. I know there’s no “right” way or “one size fits all” way of handling money but any insight is helpful and welcome!