I just wanted to say that this forum has wealth of information. I've spent many hours reading and learning from all of you.
Let me introduce myself. I'm 30 years and my husband is 39. We have 2 toddlers. My goal is to retire in 20+ years. I manage all our finances and my husband leaves all the decisions to me, so it seems that it's up to me to start planning OUR retirement .
We both work and have a combined income of $90,000.
Savings (hsbc direct @ 5%) 28K
80K left on mortgage (240K equity)
2 new cars paid with cash
TSP retirement $70K
Roth IRA $6K
I know I shouldn't figure this in my calc, but there's a trust set up for me from my grandparents $300K
I put at leave 15% (not including company 5% match) in TSP plan. We save at least $1K extra a month after all the expenses. Not much, but I'm working on the budget. Our monthly expenses are around $4200 a month. Our biggest expense is spending around $1300/month for food and $7500/year for property tax (I've been complaining ever since we moved to our town, hehe).
I would love to retire early and travel around Asia with my husband and don't have to worry about work. I would also love to go back to Vietnam on a regular basis. For sure, it won't be anytime soon because we have to put our kids thru college (in 15+ years).
I would love to practice LBYM, but it takes alot of self discipline. We are so blessed for what we have. We often splurge on vacations and entertainment, but try to save also. Now I realize that we should harvest/reap now and so that we can enjoy our rewards when we retire.
I love to hear from all of you and receive inputs.
devoted7
Let me introduce myself. I'm 30 years and my husband is 39. We have 2 toddlers. My goal is to retire in 20+ years. I manage all our finances and my husband leaves all the decisions to me, so it seems that it's up to me to start planning OUR retirement .
We both work and have a combined income of $90,000.
Savings (hsbc direct @ 5%) 28K
80K left on mortgage (240K equity)
2 new cars paid with cash
TSP retirement $70K
Roth IRA $6K
I know I shouldn't figure this in my calc, but there's a trust set up for me from my grandparents $300K
I put at leave 15% (not including company 5% match) in TSP plan. We save at least $1K extra a month after all the expenses. Not much, but I'm working on the budget. Our monthly expenses are around $4200 a month. Our biggest expense is spending around $1300/month for food and $7500/year for property tax (I've been complaining ever since we moved to our town, hehe).
I would love to retire early and travel around Asia with my husband and don't have to worry about work. I would also love to go back to Vietnam on a regular basis. For sure, it won't be anytime soon because we have to put our kids thru college (in 15+ years).
I would love to practice LBYM, but it takes alot of self discipline. We are so blessed for what we have. We often splurge on vacations and entertainment, but try to save also. Now I realize that we should harvest/reap now and so that we can enjoy our rewards when we retire.
I love to hear from all of you and receive inputs.
devoted7