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Old 06-26-2016, 12:02 PM   #21
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Welcome! You've got a lot of different factors impacting your financial situation, but it sounds like you are on the right path and focusing on the important things. Increasing your savings/investments with any extra money will help in both the short and long term.

You mention wanting to travel more to create memories for your daughter. I can't speak for anyone else, but I know my strongest memories of my family are the everyday moments we spent together. Your attention and time are the things that will stay with her.

You're still young and have a lot of time, so the little changes you're making now will have big impacts long term!
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Old 06-26-2016, 12:35 PM   #22
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Originally Posted by wallymama View Post
Are we totally screwed?
Just the fact that you are aware of your FIRE needs, are motivated to act on them, and are fairly young puts you ahead of the pack. Keep control of your spending to the extent that you can, LBYM, save and invest in low cost funds/ETFs. You will show progress over time. Good luck.
"The mountains are calling, and I must go." John Muir
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Old 06-26-2016, 12:50 PM   #23
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Originally Posted by Katiek View Post
You mention wanting to travel more to create memories for your daughter. I can't speak for anyone else, but I know my strongest memories of my family are the everyday moments we spent together. Your attention and time are the things that will stay with her.
I completely agree! I am 57, and can remember fondly playing Parcheesi every day at lunch when I was in 1st through 3rd grade with my mother. I would walk home from school for lunch and play while we ate. I wouldn't give up those memories for anything.
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Old 06-26-2016, 05:01 PM   #24
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Welcome! You've taken the first step in that you recognize you want to take action. DW and I are in the same age bracket, different circumstances but the same desire to finish up w*rk early. First suggestion, read and learn all you can if this really interests you. You'll find there isn't just one path to FI, but many and many pros/cons of each depending on individual situation and needs. Second suggestion, find the path that works for you and build your strategy around it. Ignore the hype of X investment is the best, Y fund is the way to go, do X with your cash... Find, based on your learning, what is good for you and keeps you motivated over the years- end of the day no strategy is good if you can't stick with it.

DW and I focused on paying off our debts (excluding mortgage) before we heavily started investing beyond our company 401ks etc to get matches. We refi'ed our mortgage down to a 15yr with low interest rates to work on getting that done quicker as well. From there focused on high quality dividend paying stocks and low cost index funds. This was just our path but may not be appropriate for you or your interests. Keep asking questions, keep learning and best of luck!
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