Hello! I've been lurking on the boards for the past week and wanted to pop in and introduce myself.
I am 42 yrs. old, and DH is 43. We'll be married 20 yrs. this coming fall, and we have two wonderful boys, ages 7 and 4.
We currently have $586K in retirement - 401Ks (small percentage in Roth 401K)/IRAs/Roth IRA. We both max out 401K contributions.
Currently there is $41K total in the kids' 529 accounts.
We have about $13K in cash savings. No taxable accounts yet.
Our only debt is the $33K left on our mortgage (home worth $300K), and we plan to have it paid off by Christmas this year.
We live below our means and in the past have cash-flowed things as they came along (adoption costs, home repairs, replacing cars, etc.)
Once the house is paid off we will have extra money to continue to save and invest. For sure, we want to beef up our cash savings and might consider throwing a bit more at the 529s. Also, we would like to take what used to be our mortgage payment and invest that into taxable accounts. I've also thought about splitting up my 401K contributions so that more is going into the Roth 401K vs the regular 401K.
Our hope is for me to semi-ER by the time I am 45 while DH continues to work full time. However, it would be nice if DH could ER by age 55 or so. I am hoping we learn a lot from the wisdom of everyone on these boards so that we can get on track to ensure we hit our ER goals.
I am 42 yrs. old, and DH is 43. We'll be married 20 yrs. this coming fall, and we have two wonderful boys, ages 7 and 4.
We currently have $586K in retirement - 401Ks (small percentage in Roth 401K)/IRAs/Roth IRA. We both max out 401K contributions.
Currently there is $41K total in the kids' 529 accounts.
We have about $13K in cash savings. No taxable accounts yet.
Our only debt is the $33K left on our mortgage (home worth $300K), and we plan to have it paid off by Christmas this year.
We live below our means and in the past have cash-flowed things as they came along (adoption costs, home repairs, replacing cars, etc.)
Once the house is paid off we will have extra money to continue to save and invest. For sure, we want to beef up our cash savings and might consider throwing a bit more at the 529s. Also, we would like to take what used to be our mortgage payment and invest that into taxable accounts. I've also thought about splitting up my 401K contributions so that more is going into the Roth 401K vs the regular 401K.
Our hope is for me to semi-ER by the time I am 45 while DH continues to work full time. However, it would be nice if DH could ER by age 55 or so. I am hoping we learn a lot from the wisdom of everyone on these boards so that we can get on track to ensure we hit our ER goals.