Blazerdude20
Dryer sheet wannabe
- Joined
- Sep 2, 2012
- Messages
- 12
Hey everyone,
My wife and I are trying to take control of our retirement plans and well, make a plan. I am 22 and she is 23. We bought a house last year and are working on paying down our credit cards and student loans.
She contributes 5% to her 401K and her employer puts in 2%. I will be starting mine at the start of 2013. Contributing 5% and my employer 4%. We're not really sure on how to go about investing in our 401k's. Age targeted plans or international stock markets, etc. We are also curious about a Roth plan as we plan to retire in our early 50's.
We are currently paying 1K a month to eliminate our credit cards (will be paid off in February). The thought is that we would pay about half of the money we pay to cc's a month to pay down student loans faster and invest the other half. We currently have about 4 months expenses in savings and save about 5% of our income to a "high interest" savings account.
We have been thinking lately that we will buy a bigger home when we have kids and rent out our current house. Our neighbor across the street (exact same floor plan) rented out his home for about $200 more per month than our mortgage payment. Thinking this could be a good way to build equity.
I'm rambling and will leave it with a question. What should we be doing to advance our plan towards retirement?
Thanks!
My wife and I are trying to take control of our retirement plans and well, make a plan. I am 22 and she is 23. We bought a house last year and are working on paying down our credit cards and student loans.
She contributes 5% to her 401K and her employer puts in 2%. I will be starting mine at the start of 2013. Contributing 5% and my employer 4%. We're not really sure on how to go about investing in our 401k's. Age targeted plans or international stock markets, etc. We are also curious about a Roth plan as we plan to retire in our early 50's.
We are currently paying 1K a month to eliminate our credit cards (will be paid off in February). The thought is that we would pay about half of the money we pay to cc's a month to pay down student loans faster and invest the other half. We currently have about 4 months expenses in savings and save about 5% of our income to a "high interest" savings account.
We have been thinking lately that we will buy a bigger home when we have kids and rent out our current house. Our neighbor across the street (exact same floor plan) rented out his home for about $200 more per month than our mortgage payment. Thinking this could be a good way to build equity.
I'm rambling and will leave it with a question. What should we be doing to advance our plan towards retirement?
Thanks!