Hi all I have been here for a few weeks now and I have finally decided to post a hi message. I am on my second marriage the first one was to my high school sweetheart who turned out to be the worst possible choice for me to marry especially financially(can you say spent paycheck in one day before buying groceries or paying bills, multiple times). I would like to FIRE in 10-15 years and think I can do it but know I need to be more aggressive.
I currently have about 20k in a 401k(5k in a ROTH 401k), 5k in a ROTH IRA. My emergency fund would maybe pay a weeks worth of expenses except for the fact that most of my bills are already paid up for about two months extra.
I currently save about 5% of my paycheck biweekly into the ROTH IRA, I am 100% equities with dividend payments. I have another 5% to my 401k(no company match per say). And my employer once a year will do a lump sum 4-12% of my gross pay into my 401k as profit sharing bonus.
I also have brokerage accounts totaling about 4k. My investing strategy so far has been to buy and hold dividend stocks and I am ranging from 8% to 14% return for each of my accounts with about a 10% average.
My DW is 41 and actually has over 50k in her 401k and no other speakable assets. Since we have gotten together I have helped her bring her debt down considerably and am aiming to really bump up the contributions once we have the debt paid off.
I own my house which is underwater 30-50k depending on where you look for the estimated home value between zillow and some other online free appraisal thing. I am looking to refinance it into a VA home loan sometime here in the future just need to finish getting my ducks in a row, the reason for not being in one to start with was my mortgage broker hosed me.
I have an estimated expenses for the year outside of the mortgage sitting at about 20k. The mortgage unfortunately adds another 22k per a year including taxes and pmi. I make roughly 50k a year plus bonuses as does my wife. I also get a small amount a month for disability from an injury in the US Army.
I enjoy spending time with my kids when I can see them, they live with their mom in Arizona while I live in Oregon. My DW has 2 kids of her own that live with us, the oldest is 16 and driving(the insurance is twice what I pay for my truck and my wifes car added together.
) All three vehicles are paid off.
I recently started going back to college to work on getting a few degrees and to tap my almost expired pre9/11 GI Bill. So I am working full time and going to college full time and spending time with my loved one full time, so pretty busy.
When I can find the time I like to play video games and also am in the SCA.