Bizman3000
Confused about dryer sheets
- Joined
- Sep 16, 2011
- Messages
- 5
Hello from Italy!
My wife and I got serious about three years ago. Seems we spent our 20's seeing how deep two people could get in debt with nothing to show for it, lol. Anyhow, $30k in financed vehicles (sold) and $10k in credit card debt (paid off) later, here we are... I love spreadsheets and running numbers, so bear with me.
Zero consumer debt.
Emergency Fund: $3k (cash)
His ROTH: Vanguard Target Fund 2040 (VFORX, 0.18) $8k
His TSP: Life Cycle 2045 Fund (0.027) $15k
Her 401k: Will input later ~$3k
We own property in NC and our rental income covers mortgage/management fees, not factored into Net Income.
Appraisal: $112k
Owe: $73k (15yr @ 4.25 October 2010)
___________________________________________
My personal goal is to RETIRE from the rat race at 45 in the year 2025. My dilema is how to distribute my investing to achieve that goal. I want to have immediate access to money at 45 on one hand. I do not wish to screw over my future 70 year old self on the other. House will be paid of in 2025 (perfect!). I expect to take home a $2000/mo pension after taxes. I'm thinking budgeting $3k/mo to live comfortably is reasonable as we're doing that already. That leaves a $1000/mo shortage from 45-60 before we can access our IRA/TSP money.
We have $2500 to invest each month ($30k/year) and I am thinking of doing the following annualy:
Vanguard Target Retirement 2050 (His Roth) - $5500
Vanguard Target Retirement 2050 (Her Roth) - $5500
Vanguard Target Retirement 2025 (taxable) - $14k
TSP Lifecycle Fund 2050 - $10k
Running compound interest calculators on the above numbers (12 years @7%) and using FireCalc, I think we'll be good to go at 45 ***IF*** we can stick with it.
Ciao!
My wife and I got serious about three years ago. Seems we spent our 20's seeing how deep two people could get in debt with nothing to show for it, lol. Anyhow, $30k in financed vehicles (sold) and $10k in credit card debt (paid off) later, here we are... I love spreadsheets and running numbers, so bear with me.
Zero consumer debt.
Emergency Fund: $3k (cash)
His ROTH: Vanguard Target Fund 2040 (VFORX, 0.18) $8k
His TSP: Life Cycle 2045 Fund (0.027) $15k
Her 401k: Will input later ~$3k
We own property in NC and our rental income covers mortgage/management fees, not factored into Net Income.
Appraisal: $112k
Owe: $73k (15yr @ 4.25 October 2010)
___________________________________________
My personal goal is to RETIRE from the rat race at 45 in the year 2025. My dilema is how to distribute my investing to achieve that goal. I want to have immediate access to money at 45 on one hand. I do not wish to screw over my future 70 year old self on the other. House will be paid of in 2025 (perfect!). I expect to take home a $2000/mo pension after taxes. I'm thinking budgeting $3k/mo to live comfortably is reasonable as we're doing that already. That leaves a $1000/mo shortage from 45-60 before we can access our IRA/TSP money.
We have $2500 to invest each month ($30k/year) and I am thinking of doing the following annualy:
Vanguard Target Retirement 2050 (His Roth) - $5500
Vanguard Target Retirement 2050 (Her Roth) - $5500
Vanguard Target Retirement 2025 (taxable) - $14k
TSP Lifecycle Fund 2050 - $10k
Running compound interest calculators on the above numbers (12 years @7%) and using FireCalc, I think we'll be good to go at 45 ***IF*** we can stick with it.
Ciao!