I am taking care of all my financial accounts (finally...) and in a bit of a dilemma of how to allocate in them.
I have 401K, Roth 401K, Roth IRA - all in Fidelity (That's what I got from my employer), and a personal Investment account in Vanguard. Next year I will get HSA from the company health insurance as well.
I never touched my retirement accounts until this week because I had no idea how they work. But I set down and read some books that explain everything (one is "The Simple Path to Wealth").
I am maxing my 401K and the Roth IRA for this year. Next year I won't be eligible for a Roth IRA due to exceeding the salary cap.
I thought to just buy FSKAX or VTI (I'm 30) on all of them and in the future to buy some bond index fund in one of the accounts, but it seems like such a mess and inefficient due to so many accounts....
Should I just look at them as a whole, invest in an index fund, and rebalance once a year or is there a more efficient way to approach those five separate accounts?
Thanks!
*Note: I heard about a backdoor IRA... at this point, I'm a bit hesitant with that as it seems a bit too complicated to me
original posted by A_Midnight_Shift to r/personalfinance on Sat, 30 Mar 2024 15:50:24 GMT.