iam21177
Recycles dryer sheets
- Joined
- May 26, 2011
- Messages
- 159
My husband and I just got married in August (weddingmoon elopement roadtrip to Canada, just the two of us). I am 36 and he is 34. We do not plan to have kids.
Together, in the past year, we are maxing out two 457b accounts, two ROTH IRA accounts, and one HSA account. We both work for a university so we each have a 401(a) plan where the employer contributes 14.2% of each salary. By my calculations that is about $66,000+ a year going into some kind of retirement vehicle - which I am assuming we can keep up this pace, well as long as we both work at these jobs!
Combined income: ~$134k (I will get a raise here soon as well)
401(a)/403(b)/457(b) value combined: $351,998
ROTH value combined: $49,548
HSA: $12,000 (about?)
House: $177k left on $255k home (guess)
Cash: $10k
NET WORTH: ~$501,000
We have no CC or student loan debts.
Once some of these larger expenses get out of the way, we plan to contribute again to the 403(b) as during "normal months" we still have some leftover income that goes unspent - plus I have that raise coming. We've had a few large expenses this year (new deck, new braces for each of us, several flights home/funeral, a wedding - all without debt), so the cash on hand took a dent.
Should we have more liquid on hand? We're thinking the contributions of the ROTHs could be used in an emergency. However, when they say "How many months of living expenses on hand do you have?" they are not talking ROTH contributions, right?
We've been tracking our expenses for over a year now (me for like 10 years), I keep detailed categories so I know all the expense breakdowns.
My husband has projected a very early retirement and showed me the numbers (I think he uses an MSN retirement calculator), yet it seems way too early and you just never know what big expenses lie ahead.
Any words of wisdom? Build more liquid savings? I've tried the FIRE calculator and I'm just not getting it.
Together, in the past year, we are maxing out two 457b accounts, two ROTH IRA accounts, and one HSA account. We both work for a university so we each have a 401(a) plan where the employer contributes 14.2% of each salary. By my calculations that is about $66,000+ a year going into some kind of retirement vehicle - which I am assuming we can keep up this pace, well as long as we both work at these jobs!
Combined income: ~$134k (I will get a raise here soon as well)
401(a)/403(b)/457(b) value combined: $351,998
ROTH value combined: $49,548
HSA: $12,000 (about?)
House: $177k left on $255k home (guess)
Cash: $10k
NET WORTH: ~$501,000
We have no CC or student loan debts.
Once some of these larger expenses get out of the way, we plan to contribute again to the 403(b) as during "normal months" we still have some leftover income that goes unspent - plus I have that raise coming. We've had a few large expenses this year (new deck, new braces for each of us, several flights home/funeral, a wedding - all without debt), so the cash on hand took a dent.
Should we have more liquid on hand? We're thinking the contributions of the ROTHs could be used in an emergency. However, when they say "How many months of living expenses on hand do you have?" they are not talking ROTH contributions, right?
We've been tracking our expenses for over a year now (me for like 10 years), I keep detailed categories so I know all the expense breakdowns.
My husband has projected a very early retirement and showed me the numbers (I think he uses an MSN retirement calculator), yet it seems way too early and you just never know what big expenses lie ahead.
Any words of wisdom? Build more liquid savings? I've tried the FIRE calculator and I'm just not getting it.
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