Aiming_4_55
Thinks s/he gets paid by the post
I’ve been lurking for about a month reading a variety of interesting posts. Thank you all for sharing.
I know I’m not FIRE yet, but I want to position myself for it by 55 maybe sooner thus giving me more options. Life is good just want to make it better with more options as I get older.
Family background – Married for 10 years, spouse and I are 41, 2 kids (4 and 3), home is MN but originally from IL, might move back if opportunity presents itself. Family in both locations.
$$ Background – Annual salary of $125k (spend is about 50%), DW is SAHM, Limited debt: Primary residence paid in full (275k value), minivan 5k balance @ 0%, about a year left, 6 month emergency fund of about $25k in MM, live below our means, but a fair budget, enjoy a few vacations a year, dining out 2 – 3 times a week. No other debt.
Investments – Index fund investor but consolidated last few years into Vanguard/Fidelity Target Fund 2035 estimate $900k (40% taxable/50% 401k/10% Roth). I probably should learn to invest better, but like to keep it simple as time is limited. Rental property value $600k with $195k mortgage @ 4.125%, 15 years remaining, monthly positive cash flow about $2400. I perform most of the management. MN 529 plan for the kids about $40k (50% adjust based on age/50% all equities), contributing $500 a month.
Annual Retirement contributions – about $25k (401k, employer contribution, Roth), regular savings about $15-20k estimate.
This year, we completed the adoption of my 3 year. The 4 year old was via IVF, so starting the family was a struggle over 8 years. Prior to marriage and family, career and making $$ was important. I no longer feel that way, took 6 weeks of vacation this year, all away from home!
Thanks for the feedback!
I know I’m not FIRE yet, but I want to position myself for it by 55 maybe sooner thus giving me more options. Life is good just want to make it better with more options as I get older.
Family background – Married for 10 years, spouse and I are 41, 2 kids (4 and 3), home is MN but originally from IL, might move back if opportunity presents itself. Family in both locations.
$$ Background – Annual salary of $125k (spend is about 50%), DW is SAHM, Limited debt: Primary residence paid in full (275k value), minivan 5k balance @ 0%, about a year left, 6 month emergency fund of about $25k in MM, live below our means, but a fair budget, enjoy a few vacations a year, dining out 2 – 3 times a week. No other debt.
Investments – Index fund investor but consolidated last few years into Vanguard/Fidelity Target Fund 2035 estimate $900k (40% taxable/50% 401k/10% Roth). I probably should learn to invest better, but like to keep it simple as time is limited. Rental property value $600k with $195k mortgage @ 4.125%, 15 years remaining, monthly positive cash flow about $2400. I perform most of the management. MN 529 plan for the kids about $40k (50% adjust based on age/50% all equities), contributing $500 a month.
Annual Retirement contributions – about $25k (401k, employer contribution, Roth), regular savings about $15-20k estimate.
This year, we completed the adoption of my 3 year. The 4 year old was via IVF, so starting the family was a struggle over 8 years. Prior to marriage and family, career and making $$ was important. I no longer feel that way, took 6 weeks of vacation this year, all away from home!
- Goal – Retire @ 55 or sooner
Thanks for the feedback!