Hoping to learn from you all

[J-Lu]

Hello,

I discovered this forum a few weeks ago and have been trying to read as many posts as I can.* I've already learned a lot so far, but know that I have much more to learn.

Briefly, my situation:* DH and I are 36/34.* We had our first child 8 months ago and I am now a stay-at-home mom.* I know that this does not bode well for FIRE, but my conviction to stay at home with my children (at least in the early years) outweighs my conviction to FIRE.*

It is only recently that DH and I have started to think about FIRE, and have only done so at a high level.* I was a fairly good saver when working, and we have 130K in 401(k)/Roth,* 75K in after-tax investments (mostly index funds, a few equities, and some MMF), and a rental property.* The plan is to pay off the rental property in 10 years, sell, and then pay off our home mortgage.* Also, this will coincide with DH's Military retirement.* He hopes to then find something he enjoys as a 2nd career, and I may go back to work at that point.

Anyway, as I mentioned before, we have not gotten down to the details and know that we must in order to FIRE.* I'm looking to learn a lot more from this forum.

Cheers!
J-Lu

[JPatrick]

Welcome J-Lu.
It sounds like you are well on your way to FI.
I think you made a great decision in deciding to be a stay at home Mom. I'm sure you will never regret it.
When that military retirement arrives you will have solved one of the biggest problems in ER---medical insurance.* Plus, you will have a cola'd annuity for life.* By the way, you will have an important decision to make at that time regarding SBP.* No one right answer for everyone, just give it lots of thought.
You have a nice pile of cash started and plenty of time ahead of you to grow it.* Just make sure you monitor your investments* to insure they are still good choices and not killing you with expenses.

Last, but not least--thanks for having the courage to serve during these difficult times.

[Nords]

Welcome to the board, J-Lu!

Originally Posted by J-Lu

Also, this will coincide with DH's Military retirement.

Take a look at putting away as much as possible now in low-cost tax-deferred accounts. Your spouse can put up to 100% of his pay in the TSP (to the IRS' $15K limit) and the two of you can put an additional $8K in Roth IRAs. The TSP pretty much covers the spectrum of asset allocation at expense ratios that beat even some Vanguard funds.

If/when you get to the decision point, don't take the REDUX cash. Stick it out for the high-3 retirement plan. Post or PM if you have more questions about this one...

While it's great to look ahead 10 years to an active-duty retirement, that's one heckuva long-term mental burden if the current job sucks. If I have one regret from my 24 years it's that I didn't learn about the Reserves much earlier in my career and then take it one tour at a time. Do what makes you happy (not necessarily the assignment officer) and don't hesitate to pull the plug if it helps you sleep better at night.