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Originally Posted by Edward64
No problem in spreading out your 401ks. I have large portions in Fidelity and Vanguard. Current company uses Alight so that means I have 3. I specifically wanted both Fidelity and Vanguard because, however unlikely something bad happens, I don't want to put all eggs in one basket.
Target X year retirement funds are pretty respectable but some are better than others. So at the very least google and make sure they aren't overly expensive and are actually following the strategy.
As far as retirement target, lots of materials are out there. But much does depend on when you want to retire. 52 is different than 62 and different than 67 (unless you have a nice pension). Basically have all your debt paid off, and plan on 4% of portfolio + SS, and factor in healthcare expenses.
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A lot will depend on whether the next 10 years continue to be as good as the last few. Barring some sort of catastrophic (un)employment situation, I intend to have the house paid off in the next 8-10 years, max. I have one left to put through college, so hopefully in about 5 years I can seriously ramp up savings. I'm already maxing out 401K, including the catch-up as I turn 50 this year (I think that's an extra $6K). I also have the option of some sort of separate executive retirement fund I can put money into through my job that I don't know a ton about yet because I'm not at the point where I can throw that much of my salary into savings.
I guess I'm targeting 65 for retirement but I don't really know if I'm truly on the path to retire by 60 or 75 based on my financial situation. That's where I think a professional can help.