DreamingBig
Confused about dryer sheets
First - what a great site. Glad to have found it, and am excited to continue reading and learning through all the information available.
My wife and I are starting to become rather serious about retiring early and an looking for any advice one may have or can give on our situation.
Us:
35 and 43 years old
2 Young Children
Debt:
Mortgage Debt - $151,000.00
Car Loan - $12,000.00
No other debt owed - just monthly expenses of utilities, groceries, taxes, insurance, gas, etc.
Income:
Her - $90,000.00
Me: $50,000.00
Savings:
$30,000.00 - CD's
$4000.00 - Savings Bond (Long Story!)
$4000.00 - Cash
$2000.00 - Savings/Money Market
$29,000.00 - Combined Roth Accounts
$20,000.00 - Traditional IRA
$100,000.00 - 401K's
$5000.00 - Mutual Fund Account
$9000.00 - Brokerage Account
My wife puts away 10% pre-tax into her 401 K, and her employer matches 5% of her gross salary and dumps into her 401K, so a total of 15% of her gross salary is put into her 401K yearly. I put away 11% pre-tax into my 401K, and my employers contributions bring my total to 14.5% of my gross salary.
We also put away $2000.00 each into our respective Roth IRA Accounts, and put $750.00 each into the kids educational savings accounts.
After reading many of the posts on this site, I realize we are not anywhere close to where we should be, discouraging, but ready to tackle the task. We don't live an extravagant lifestyle, and don't plan on one in retirement. Want to be comfortable, that is our goal.
Looking for honest feedback on our situation, and some old pro's suggestions.
Thanks.
My wife and I are starting to become rather serious about retiring early and an looking for any advice one may have or can give on our situation.
Us:
35 and 43 years old
2 Young Children
Debt:
Mortgage Debt - $151,000.00
Car Loan - $12,000.00
No other debt owed - just monthly expenses of utilities, groceries, taxes, insurance, gas, etc.
Income:
Her - $90,000.00
Me: $50,000.00
Savings:
$30,000.00 - CD's
$4000.00 - Savings Bond (Long Story!)
$4000.00 - Cash
$2000.00 - Savings/Money Market
$29,000.00 - Combined Roth Accounts
$20,000.00 - Traditional IRA
$100,000.00 - 401K's
$5000.00 - Mutual Fund Account
$9000.00 - Brokerage Account
My wife puts away 10% pre-tax into her 401 K, and her employer matches 5% of her gross salary and dumps into her 401K, so a total of 15% of her gross salary is put into her 401K yearly. I put away 11% pre-tax into my 401K, and my employers contributions bring my total to 14.5% of my gross salary.
We also put away $2000.00 each into our respective Roth IRA Accounts, and put $750.00 each into the kids educational savings accounts.
After reading many of the posts on this site, I realize we are not anywhere close to where we should be, discouraging, but ready to tackle the task. We don't live an extravagant lifestyle, and don't plan on one in retirement. Want to be comfortable, that is our goal.
Looking for honest feedback on our situation, and some old pro's suggestions.
Thanks.