JoshTrent
Recycles dryer sheets
- Joined
- Mar 31, 2011
- Messages
- 112
Hello..
I have been trolling for a while (and will for a while more). I am Josh.. I am married (5 years this December) with 2 kids (2 years & 7 months). We live in CO. I work (about $70,000 a year with Salary & Commission) my wife is a stay at home mom & is the CFO of the House. She is a RockStar & is way more frugal than I am. We have a strong budget, which we review every month. Expenses are kept to a minimum, however we do have enjoy our lives & our boys! Our short term goal is to pay off the house, and we are on target to have the mortgage paid in 5-6 years. After that.. who knows! Here is my info:
Assets
- House - $235,000
- 401(k) - $120,000 (90% Stocks MF, 10% Bonds MF) with 13% contribution & 3% match
- Roth #1 - $17,000 (Self Directed with earnings @ 12% a year) with $5k contribution
- Roth #2 - $8,000 (100% Stock MF) with $0 contribution
- 529 - $3,500 (100% Stock MF) with $1.2k contribution annually
- Cash on Hand - $10,000 (MMA - Emergency Fund)
- Cars - Who cares right? They are paid for!
Liabilities
- Mortgage - $165,000 ($185k, 4.875%, 30 year, with 3 years gone)
We both have Life Insurance - $500k on me & $300k on my wife. These are 20 yr term policies we picked up 2 years ago.
We run a surplus of about $35,000 (after taxes) a year. That money has been used for Home Upgrades (windows, landscaping, flooring, etc) as the house was a bit of a fixer-uper, we also travel once a year to Europe (to see the wife's family), and some Debt payment (student loans - we killed Sallie!).
I don't know what else to say.. I don't know if we will be able to retire early, but I figure we are on track to retire at some point!
Thanks for having me!
I have been trolling for a while (and will for a while more). I am Josh.. I am married (5 years this December) with 2 kids (2 years & 7 months). We live in CO. I work (about $70,000 a year with Salary & Commission) my wife is a stay at home mom & is the CFO of the House. She is a RockStar & is way more frugal than I am. We have a strong budget, which we review every month. Expenses are kept to a minimum, however we do have enjoy our lives & our boys! Our short term goal is to pay off the house, and we are on target to have the mortgage paid in 5-6 years. After that.. who knows! Here is my info:
Assets
- House - $235,000
- 401(k) - $120,000 (90% Stocks MF, 10% Bonds MF) with 13% contribution & 3% match
- Roth #1 - $17,000 (Self Directed with earnings @ 12% a year) with $5k contribution
- Roth #2 - $8,000 (100% Stock MF) with $0 contribution
- 529 - $3,500 (100% Stock MF) with $1.2k contribution annually
- Cash on Hand - $10,000 (MMA - Emergency Fund)
- Cars - Who cares right? They are paid for!
Liabilities
- Mortgage - $165,000 ($185k, 4.875%, 30 year, with 3 years gone)
We both have Life Insurance - $500k on me & $300k on my wife. These are 20 yr term policies we picked up 2 years ago.
We run a surplus of about $35,000 (after taxes) a year. That money has been used for Home Upgrades (windows, landscaping, flooring, etc) as the house was a bit of a fixer-uper, we also travel once a year to Europe (to see the wife's family), and some Debt payment (student loans - we killed Sallie!).
I don't know what else to say.. I don't know if we will be able to retire early, but I figure we are on track to retire at some point!
Thanks for having me!