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Yeah, you're right on, ronocnikral. That's what I meant earlier when I said we'd slacked a bit in the last year. Before we bought the house (and when I was single), I/we were much more serious about long-term savings. I don't want to give the wrong impression; we still live modestly, but we're...

Thanks for the replies, guys. Looks like traditional IRAs are not an option, but I went back and looked at the Roth IRA again to see why I didn't quality to contribute much this last. Looks like last year our total income was actually $176k, due to some one-time things. This year it should be...

The traditional ira limits are even lower - $110k for a couple if I'm not mistaken. I am assuming that a 401k counts as an employee retirement plan? Maybe that's wrong, in which case we would qualify. We are indeed a married couple filing jointly, but we only qualified to deposit $400 this...

Hello again - time for my yearly checkup. I know this is very long and boring, but I like doing this largely because it forces me to look back on where we are and see how we're doing. Any comments or tips would be very welcome! (Last year's post) We've progressed since last year, but we are...

So let's assume your price is right. $18k new or $13k 2 years old. And assume you'll drive the car until it's 10 years old. That's either $1,800 / year for the new car, or $1,625 / year for the used car. Even getting the new car way under sticker, you're still paying far more per month than...

I'm curious how you guys are arriving at your "buying new is a better deal than buying used" numbers. Just for example, I just pulled up used a search for a used Camry LE and looked at a new one. Used: 2 years old, 14k miles, $13,000 New: $23,000 The Sienna LE: Used: 2 years old, 25k miles...

Thanks again for all the input! I took another look at the finances last night, and I've made some slight changes to the plan. I'm thinking I'll use some of the cash to seed 1 or 2 new investment accounts (a second Roth and hopefully a post-tax account). That will leave us here in May: 401k...

I must admit I'm surprised to see you all agree that over-paying the mortgage isn't the way to go. I guess I may be overly cautious, but I sure like the look of a guaranteed 5% return. But staying liquid is certainly a good idea (not that a 401k and a Roth IRA are much better). And you're...

Hey everybody, I was bouncing around these boards a couple of years ago, but stopped checking in as much after I set my course. Well, a lot has changed, and I'm about to have to make some big decisions again! If anyone has any advice or just comments on our situation, I'd love to hear it. I...

Good question - I haven't looked at this in a while! Gross income: about $95k (a lot of my pay is based on monthly bonuses, so it varies) Cash savings: $16,800 401k contributions: about $9,500k 401k match: about $3,800k Total: about $30,100 So I save 31% of my gross income. I save cash...

Just wanted to weigh in quickly here, Crispus. I'm 26, getting married in about 8 months, and our parents have offered to cover the majority of our wedding expenses. While I am extremely grateful for it, I still feel awkward and a little embarrassed taking money from my parents & my fiance's...

Thanks again to everyone for the input. I was curious if everyone would highly encourage buy immediately, or if I'm alright renting for a few more years. I've been told by some [-]older[/-] wiser relatives and friends that they wish they'd bought a home young. But they do not share the goals of...

I guess that's at the root of my question, Brewer - I do have good credit, and could almost certainly swing a second mortgage or PMI. Is getting into a home early important enough that I should go to such lengths? Or is it wiser for me to slow down my down payment savings, and wait a few more years?

Thanks for the responses, guys - your advice on taking it slower with the house purchase does make a lot of sense (it is hard when I'm dumping money into rent, though). Unfortunately, $250-$300k is pretty close to the minimum you can spend on a condo in a decent neighborhood in Chicago (I don't...

I just turned 25, and my goal is to at least have the option to retire comfortably by 45 or 50 (with an awful lot of fun in between). I'm trying to figure out the best way to distribute my savings, and any advice would be greatly appreciated! At the moment I'm putting almost every dollar I can...

Thanks again, jIMOh, I really appreciate the time you're taking to answer my questions. I will definitely look into all of those suggestions! Looks like the first thing I need to do is a lot of reading. :)

Thanks for the advice, jIMOh - I really appreciate it! Would saving in this method provide funds for retiring early? If I decide I want to retire at 45, but 2/3 (or so) of my savings is in a Roth IRA and 401k, won't I be forced to wait until I'm 60 to touch that money? (Or pay the early...

Between my 401k and cash savings, I currently save about 33% of my take-home income. I'm definitely shooting to at least have the option to retire by the time I'm 50 (if not sooner... much sooner...). It's great to hear that 15% has put you in a position to retire early! My biggest question is...

Hello Everyone! My name is Dave, I'm 24, living in Chicago, and I'm starting to get serious about trying to retire early (or FIRE myself, I guess :)). I've been out of school for almost three years, and by getting in at a small company that has done very well I'm making some good money these...