Perry,
Congrats sounds like you're doin g pretty well.
Any advice would be meaningless without some more information.
You/Wife's current income?
The Mutual Fund money is for?
Your current advisor should be going through all this with you (you are an
ideal client) if he isn't ask him to bring in a more senior advisor that
can do a more comprhensive plan as opposed to selling products.
Advisors (and their clients) tend to compartmentalize their finances.
Thats why more information is key.
As for the $50k don't rush to put it into anything until you get some more
advice. If you want to stash it somplace other than your bank for now take
a look at a money market account at ING or MetBank. Both online banks
offer better rates than you'll get elsewhere.

Carlton D. Taylor

All opinions and recommendations expressed are personal, and do not
represent those of any institution, or business. Furthermore, my opinions
and recommendations carry neither an implied nor explicit warranty.

Perry <perimaxperimax[at]siliconinvestor.com> wrote:

- quote -

If you can get 6% return on investment after inflation, you will need to
save $40,000 per year in today's dollars.

--
Ron

First off, I posted once several weeks ago and it never showed up. If
it did, just not on my server, I apologize.

I need help w/ my plan. My planner is very interested in selling
insurance and other investment vehicles, as that is his business model
for profit, and I need a 2nd and 3rd opinion. He seems well suited to
get a young couple on track with their debt, set up insurance, get
them investing in their 401k, etc... but no real help for someone
slightly above this area in their wealth building venture.

My situation is as follows:
I am 30 spouse for life is 31
two solid college graduate, 8-10 year experience, incomes
car now worth 8k paid off
car now worth 11k paid off
boat worth 30k paid off (yes, gotta have priorties!
185k home, 120k mortgage balance, 9.5 years left on 12 year note,
5.625 fixed
529 plan for child one at 250$ per month, hes 14 months old, invest
since 8 months old. Plan on adding another 529 for 2nd and final
child ( a year away yet)

2 401k's investment maxed, current balance of roughly 40k and 90k
10k in mutual fund, American Funds, New Perspective Fund. It draws
automatic 50$ per month investment out of checking.

300K Term life policy through AMFAM on me
240k Term policy through work on me
320K Term policy through work on her


We want to retire at 55 and take even draw on 401k over 10 year period
(someone told us you could do this???) We want to retire on 150K per
year, in todays dollars.

The main question is what should we do with our extra income and what
should I do with cash. I just sold a business and have 50k or so to
stuff somewhere. Will we have enough to retire on? Any advice would be
excellent.

Perry