Hit a major milestone this week!

[iam21177]

My husband and I just passed the half a million mark! I am 36 and he is 34.

A total of 50.2% of our income goes into retirement (36% of our own income, plus our university employer gives us 14.2% of our salaries).

We're contributing to:

• two 457(b) accounts (maxed)
• two Roth IRAs (maxed)
• one HSA (maxed) (soon to be two HSAs)
• part of one 403(b)

The 14.2% of our salaries goes to our 401(a) accounts which is standard for all professional employees here.

I like to celebrate anything and everything. This month marks our 6 month wedding anniversary as well. The plan is to go to out to dinner in the big city and redeem an old REI gift card someone gave us (even though we eloped).

(Net worth is probably in the $550,000 mark with the house.)

Yippeeee!

 

[ChiSaver]

A big congratulations to you and the DH. Half a mil already and saving 36% of your own income with a big contribution from employers will make that next milestone all the easier. Good for you!!

 

[hlfo718]

Holy, do you get a pension too? If so you will be all set in a few short years.

 

[iam21177]

Holy, do you get a pension too? If so you will be all set in a few short years.

No, no pension. The secretarial and custodial employees will get a pension (aka classified employees), but the rest of us get the 401(a) gift as part of our benefits package.

I am due for a raise here shortly since I finished my master's in engineering (same desk, new duties). It's all being reviewed currently. I am expecting at least a 40% pay increase. I work with some people who have engineering titles (and salaries) and no engineering degrees. I would assume/hope I would at a minimum get a similar title, or one step up! That's my logic. We'll see!

 

[TOOLMAN]

My husband and I just passed the half a million mark! I am 36 and he is 34.HSAs)
(Net worth is probably in the $550,000 mark with the house.)

Yippeeee!

Way to go!!

You are on a faster track to ER than we were at your age. When I hit the 500K NW mark I wanted to tell everyone, but I soon discovered most people did not share in my excitement when I told them about reaching a mile stone goal. That was a big let down because it takes a lot of work and self discipline to make it to that point. I have stopped sharring the mile markers with nearly everyone now. However the nice thing about this site is; you can celebrate with people who appreciate and respect your accomplishment, without the jealousy you may find with those of your age.

Way to go!!

 

[iam21177]

Way to go!!

You are on a faster track to ER than we were at your age. When I hit the 500K NW mark I wanted to tell everyone, but I soon discovered most people did not share in my excitement when I told them about reaching a mile stone goal. That was a big let down because it takes a lot of work and self discipline to make it to that point. I have stopped sharring the mile markers with nearly everyone now. However the nice thing about this site is; you can celebrate with people who appreciate and respect your accomplishment, without the jealousy you may find with those of your age.

Way to go!!

Thank you! It is a hard topic share with others - so glad I have this forum! People might think we are rolling in it and feel we should be paying for other's things.

 

[er33]

Congratulations! It indeed is impossible to share this milestone with others. When I shared our own milestone with my wife she chastised me for bragging.

 

[iam21177]

Congratulations! It indeed is impossible to share this milestone with others. When I shared our own milestone with my wife she chastised me for bragging.

Wait?!? Your own wife chastised you for bragging about the both of your financial achievement? Now that is messed up, sorry.

You can brag about your own awesomeness to each other! That is totally OK!

 

[laurence]

Wow, congratulations! We are only at $400k and we are 38/37! These amounts may not make us FIRE, but they do give a level of independence and freedom most people will never know.

 

[obgyn65]

Congratulations !