P
Puzzled
Guest
SO glad I found this site!! After reading a lot of the messages here, I thought I'd post some info about my situation and see if any ER's have any suggestions on what I can/should do differently.
I am 29 years old. My wife and I both have Roth IRAs which we max out each year, 401ks which we each contribute to up to our employer's match limit, disability "wrap" policies, and life insurance (with cash value which we can borrow against later). In addition, I have a pension with my current employer. Two years ago we also bought a duplex which we live in while renting out the other half. We also have a money market fund where we stash extra savings (a bit slow the past 2 years since the duplex purchase) and I plan to roll that into a Vanguard index fund as the amount warrants.
As you can tell from the above info, we're doing our best... however, I can't help but feel like it's taking forever and lately have been wondering if I am a little crazy to think the ER thing can happen for us.
It has been a goal of mine to retire early since I was about 19 years old and discovered some articles regarding compounding interest. I was also motivated by watching family members work themselves to death by age 55.
The seemingly slow progress in addition to watching friends take huge trips, buy big houses, boats and new cars can be really discouraging at times. Sometimes it is tempting to say "screw it" and go get the big house and new boat... can anyone relate?
Neither one of us makes huge $$$, but we do live below our means as you can tell by our current savings plan.
Any advice for me? How does a person who's shooting for ER balance the "SAVE SAVE SAVE" mentality while still enjoying life and buying the occasional "fun" item like a trip or vehicle? How do you keep a good attitude while watching people get the things you want and COULD afford? Especially when ER seems so far away?
Thanks for reading this... I appreciate your time and any input you can offer.
Help?
I am 29 years old. My wife and I both have Roth IRAs which we max out each year, 401ks which we each contribute to up to our employer's match limit, disability "wrap" policies, and life insurance (with cash value which we can borrow against later). In addition, I have a pension with my current employer. Two years ago we also bought a duplex which we live in while renting out the other half. We also have a money market fund where we stash extra savings (a bit slow the past 2 years since the duplex purchase) and I plan to roll that into a Vanguard index fund as the amount warrants.
As you can tell from the above info, we're doing our best... however, I can't help but feel like it's taking forever and lately have been wondering if I am a little crazy to think the ER thing can happen for us.
It has been a goal of mine to retire early since I was about 19 years old and discovered some articles regarding compounding interest. I was also motivated by watching family members work themselves to death by age 55.
The seemingly slow progress in addition to watching friends take huge trips, buy big houses, boats and new cars can be really discouraging at times. Sometimes it is tempting to say "screw it" and go get the big house and new boat... can anyone relate?
Neither one of us makes huge $$$, but we do live below our means as you can tell by our current savings plan.
Any advice for me? How does a person who's shooting for ER balance the "SAVE SAVE SAVE" mentality while still enjoying life and buying the occasional "fun" item like a trip or vehicle? How do you keep a good attitude while watching people get the things you want and COULD afford? Especially when ER seems so far away?
Thanks for reading this... I appreciate your time and any input you can offer.
Help?