...introduce myself. I've been lurking on this site for almost a year now, without actually posting. Not a record, but still pretty long to just read and not post. Anyway...
Looking forward to retiring. I figure I have about 6 to 8 more years to go. We still have two kids at home - one to start college this fall and the other in two years. Our two oldest are through college and both working in their respective fields. One has a 401(k) at work and is contributing the maximum percentage. The other is a full-time school teacher and is covered by the state teacher retirement plan, and contributes 6.5% (I think that's right).
As for me and my D(ear)W(ife), I have a 401(k) that is at about $220K and a pension - at least for now. The company recently announced that all new hires will no longer be covered by a defined pension plan, but will have an enhanced 401(k). I currently contribute 6% pre-tax to my 401(k) (the max, since I'm considered the dreaded "highly compensated employee"). The company matches that 6%. In addition, I contribute an additional 2% after tax and 10% of the annual performance pay (if we get any, that is). My wife has a teacher's retirement plan that she has to contribute 7.5% pre-tax to.
We will be done with our mortgage in a little over 7 years, and are working on some credit card debt that will take awhile. We are hoping not to have to take out any college loans for our youngest, as we did for our two oldest. Fortunately, those college loans should be done in a little over 2 years.
Well, that's about it. I hope to post some, but it will probably be few and far between, since I only post at home and it's difficult to get on after I get home from work. The kids tend to IM a lot :
Looking forward to retiring. I figure I have about 6 to 8 more years to go. We still have two kids at home - one to start college this fall and the other in two years. Our two oldest are through college and both working in their respective fields. One has a 401(k) at work and is contributing the maximum percentage. The other is a full-time school teacher and is covered by the state teacher retirement plan, and contributes 6.5% (I think that's right).
As for me and my D(ear)W(ife), I have a 401(k) that is at about $220K and a pension - at least for now. The company recently announced that all new hires will no longer be covered by a defined pension plan, but will have an enhanced 401(k). I currently contribute 6% pre-tax to my 401(k) (the max, since I'm considered the dreaded "highly compensated employee"). The company matches that 6%. In addition, I contribute an additional 2% after tax and 10% of the annual performance pay (if we get any, that is). My wife has a teacher's retirement plan that she has to contribute 7.5% pre-tax to.
We will be done with our mortgage in a little over 7 years, and are working on some credit card debt that will take awhile. We are hoping not to have to take out any college loans for our youngest, as we did for our two oldest. Fortunately, those college loans should be done in a little over 2 years.
Well, that's about it. I hope to post some, but it will probably be few and far between, since I only post at home and it's difficult to get on after I get home from work. The kids tend to IM a lot :
![:-\](https://www.early-retirement.org/sk/forums/images/smilies/undecided.gif "Undecided :-\")
