For background, see this thread: http://www.early-retirement.org/for...decide-whether-or-not-to-refinance-58295.html
Things are continuing to move forward. I again want to thank you all because this board is where I reached out for help and got some solid advice. I just wanted you all to know where we are at now. We now have $1M in our combined retirement accounts. We just sold our primary residence to the person we bought it from (and we are going to rent his house). We will be receiving a check for about 430k, as we paid down our mortgage pretty good.
Our beach house is still a thorn in our side but I plan on either selling it or refinancing it. If I refinance it it will will at least cash flow to the tune of 1k a month. If I sell it I will get a check for maybe 10k. (It is worth far less than we paid for it, but it rents well).
Both my wife and I are eligible for state pensions in 4-7 years (if we make it, around 4500 / month each; she is 4 years away, me 7 years away).
In sum, since we last talked, my wife and I have pretty much maxed out our 403b and 457b accounts (and my Roth, plus some taxable) and have lived on what is left. We benefited from a strong market. We also got lucky in that the guy that sold us the house wanted it back (despite a declining market). Anyway, I wanted to to post my story because if nothing else it is a tale of someone who was pretty much broke 8 years ago who is feeling pretty good today. Thanks again to all who helped me and PMed me years ago. You got me off my butt! (e.g., cliffp)
Things are continuing to move forward. I again want to thank you all because this board is where I reached out for help and got some solid advice. I just wanted you all to know where we are at now. We now have $1M in our combined retirement accounts. We just sold our primary residence to the person we bought it from (and we are going to rent his house). We will be receiving a check for about 430k, as we paid down our mortgage pretty good.
Our beach house is still a thorn in our side but I plan on either selling it or refinancing it. If I refinance it it will will at least cash flow to the tune of 1k a month. If I sell it I will get a check for maybe 10k. (It is worth far less than we paid for it, but it rents well).
Both my wife and I are eligible for state pensions in 4-7 years (if we make it, around 4500 / month each; she is 4 years away, me 7 years away).
In sum, since we last talked, my wife and I have pretty much maxed out our 403b and 457b accounts (and my Roth, plus some taxable) and have lived on what is left. We benefited from a strong market. We also got lucky in that the guy that sold us the house wanted it back (despite a declining market). Anyway, I wanted to to post my story because if nothing else it is a tale of someone who was pretty much broke 8 years ago who is feeling pretty good today. Thanks again to all who helped me and PMed me years ago. You got me off my butt! (e.g., cliffp)