Appreciate any advice to ensure my family is on the right track. Government 457b just allowed a Roth option.
Both 37yrs old. Combined annual salary $255,000 (140k / 115k). At the top of our salary scales, likely 3% annual increases.
If retiring at 30-yrs with pension, pension should be $232,000 annually. We are both already vested into pension with 10-yrs (currently about 60k/annum in retirement).
Annually max Roth IRA and put 20k into 457b.
**Current Assets **$550,000 Traditional 457b (TDF 2055), $190,000 Roth IRA (VT) $185,000 brokerage (VTI/VXUS), $900,000 condominium (mortgage $275k)
Should we consider putting some part into Roth 457b? Do any of the funds or investments differently?
Also any other considerations to be aware of or think about. We have a new born and a toddler as well so we plan to pull back a bit on retirement savings if necessary to pay for tuition and daycare.