CorporateSoldier
Recycles dryer sheets
- Joined
- Feb 11, 2011
- Messages
- 75
Hello:
I have been lurking on this forum for a few months and have really found some great information. So far, I find the site good to help me stay focused on my dream of a great retirement at an age when I can enjoy it. At any rate, here's me:
44, married with three kids and two dogs, living in a fairly affordable city in the Midwest. One kid already out on his own, two teenagers at home still in high school. I am the sole breadwinner - my wife has stayed home ever since middle child was born 17 years ago. I struggled to make much money right out of college and we had kids while I was still in school so we got kind of a late start in retirement savings. The good news is we always have lived within our means even when we made very little so debt never has been an issue.
We have about $300k saved right now between a 401k, two IRAs and some stocks I have purchased specifically for retirement. My income has really grown over the last few years and I am now making around $200k a year in a really good job with a large company I have been with for 15 years. So, I am pouring money into retirement as much as possible - I think I should be able to put a minimum of 50k towards retirement every year going forward. The only thing that might slow us down is if we have two kids in college at the same time. We owe about $150k on our house - just did a refi into a 15 year mortgage at 3.8% (yay!). No credit card debt at all - only debt outside the mortgage is one car payment.
I am hoping to retire by age 60 with at least $2M. No pensions waiting for us - we will only have what we save ourselves. We are thinking of maybe keeping the house here in retirement and maybe doing the snowbird thing but we are about 15 years out and a lot can change so , we will see. The on-line retirement calculators I have been using indicate we are in decent shape if we continue to save at this rate.
Thanks again for all the info everyone on the board contributes. Any and all feedback appreciated.
I have been lurking on this forum for a few months and have really found some great information. So far, I find the site good to help me stay focused on my dream of a great retirement at an age when I can enjoy it. At any rate, here's me:
44, married with three kids and two dogs, living in a fairly affordable city in the Midwest. One kid already out on his own, two teenagers at home still in high school. I am the sole breadwinner - my wife has stayed home ever since middle child was born 17 years ago. I struggled to make much money right out of college and we had kids while I was still in school so we got kind of a late start in retirement savings. The good news is we always have lived within our means even when we made very little so debt never has been an issue.
We have about $300k saved right now between a 401k, two IRAs and some stocks I have purchased specifically for retirement. My income has really grown over the last few years and I am now making around $200k a year in a really good job with a large company I have been with for 15 years. So, I am pouring money into retirement as much as possible - I think I should be able to put a minimum of 50k towards retirement every year going forward. The only thing that might slow us down is if we have two kids in college at the same time. We owe about $150k on our house - just did a refi into a 15 year mortgage at 3.8% (yay!). No credit card debt at all - only debt outside the mortgage is one car payment.
I am hoping to retire by age 60 with at least $2M. No pensions waiting for us - we will only have what we save ourselves. We are thinking of maybe keeping the house here in retirement and maybe doing the snowbird thing but we are about 15 years out and a lot can change so , we will see. The on-line retirement calculators I have been using indicate we are in decent shape if we continue to save at this rate.
Thanks again for all the info everyone on the board contributes. Any and all feedback appreciated.
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