25-Year-Old Teacher, My Road to Early Retirement... On Track?

[SteelNate7]

Update for All:

Hi, I just recently moved my 403(b) plan to the Ohio457 where I am going to invest in a fund that has an extremely low expense ratio of 0.01%. Yay!! I also am starting to fund my 457b with just $50 a paycheck ($100 a month).

I am $1,000 away from maxing out the Roth IRA for 2023! Super excited about that. Once that occurs, I will most likely increase the 457b funding for several months until I can start to fund that 2024 Roth IRA. I really over the next few months after this Roth IRA is maxed out, am going to build up my emergency fund along with my future home fund (for a down payment).

So my plan is working for this year, it is just a matter of continuing to execute. I appreciate the information about the 457b as I am now super stoked about being in a fund that has an expense ratio of 0.01%, something I am used to seeing rather than my previous 403b that had a extremely high 0.50% + expense ratio.

Thank you for all of your help. Have a great weekend/ week ahead!

Nate

[MarieIG]

Great job Nate!

[matjung]

Quote:

Originally Posted by SteelNate7 Response: Hi, thank you for the response. You're extremely correct about inflation with my calculations, I am just giving myself a FIRE number now; however, I know that I will go above and beyond to reach that number due to my time horizon and the amount of investments I will continue to contribute. I do appreciate you bringing this up again as I sometimes do forget to calculate this. As for the return on investment from Amazon, I like the company and it is the only single stock that I will purchase. I understand that my S&P 500 index fund has Amazon in it and it is sort of double dipping so to speak, but I just like the company and want to own some shares and will keep them for the long haul. Lastly, that is a good question regarding parents helping fund the future home. I never did think to ask them about a small amount to help out. Is this something that is considered taboo? Thank you for your response!

Asking parents/relatives for funding is something that Aristocrats are doing for 500 years.
When you pay your parents/relatives 2 or 3% interest it creates a Win Win situation. Just don't ask the parents of girlfriends for funding.

The challenge for you will be to find out, when is the best time to exit from Amazon. Its market capitalization and growth may not be sustainable.
You can also think about Nasdaq index funds.