Hello everyone. I been feeling old lately and I been thinking about retirement . I haven't made good choices with my money before and is time to start thinking about my future. I am looking for any input and advice from members of this wonderful site.
My goal is to retire at the age of 45. We are shooting for $30,000 per year during retirement; in our area we can live well with that money.
Currently 28 and will be 29 in January. I am married and have two cats. We are planning on having kids within two years... no more than two .
Currently we have the following assets:
14k cash
1K my 401K
1K her 401K
100-120K home equity
Debt
80k mortgage
No car payments or student loans.
Our current income is of about 116K. I currently make 67k and the wife 49k. We are sending about 3k extra to the mortgage and we are going to start sending 4k on top of the mortgage payment in about 3 months. We are trying to pay off the house as soon as possible and it should be paid of by December of 2014.
My 401k contribution is 4% and my company matches 50% up to 6%. My wife's contribution is 4% and her company matches 50% up to 4%. I also have 1000 shares of a stock option that could be valued at around 25k if the company goes public.
Any advice?
Thanks
My goal is to retire at the age of 45. We are shooting for $30,000 per year during retirement; in our area we can live well with that money.
Currently 28 and will be 29 in January. I am married and have two cats. We are planning on having kids within two years... no more than two .
Currently we have the following assets:
14k cash
1K my 401K
1K her 401K
100-120K home equity
Debt
80k mortgage
No car payments or student loans.
Our current income is of about 116K. I currently make 67k and the wife 49k. We are sending about 3k extra to the mortgage and we are going to start sending 4k on top of the mortgage payment in about 3 months. We are trying to pay off the house as soon as possible and it should be paid of by December of 2014.
My 401k contribution is 4% and my company matches 50% up to 6%. My wife's contribution is 4% and her company matches 50% up to 4%. I also have 1000 shares of a stock option that could be valued at around 25k if the company goes public.
Any advice?
Thanks