Hi everyone-
I'm 31 and my husband is Matt 41. We have 2 kids, age 4 and 6. We are currently working full time and banking money to leave work and travel full-time in a towable tiny house while "roadschooling" our kids. The timeline is about 5 years.
Current stats:
-$800,000 in a pretty equal mix of traditional and Roth retirement accounts and non tax-advantaged mutual funds. Current asset allocation is pretty aggressive on all fronts (90% stocks with an equal mix of international, small, mid and large cap funds).
-House worth $230,000 with $190,000 remaining on mortgage.
-Currently investing approximately $50,000-$60,000 annually into accounts with increases each year as we get kids out of daycare and get raises.
The Plan:
-Continue status quo for next 3 years (2018-2020).
-Sell house and move into towable tiny house in 2021. Continue working and bank the extra money saved on housing for additional 2 years (2021-2023).
-Quit our jobs in 2023 and hit the road to travel around the country in our tiny house.
-We'll live off non tax-advantaged accounts for the 13 years until my husband reaches 59 1/2, then pull from his traditional retirement accounts for 10 years until I reach 59 1/2, then live on my traditional retirement accounts. We'll both also get small pensions in our mid-60s and (maybe) some social security at 70. We hope to not have to touch the Roths so that we can leave those for the kids.
-We'll change our asset allocation to reflect a more conservative approach in each account based on the anticipated timeline in which we plan to use it.
-Expected annual expenses in retirement will range from 40,000-50,000 annually depending on how crazy we get with travel.
TARGET NUMBER FOR RETIREMENT: $1.2 Million!!
I'm 31 and my husband is Matt 41. We have 2 kids, age 4 and 6. We are currently working full time and banking money to leave work and travel full-time in a towable tiny house while "roadschooling" our kids. The timeline is about 5 years.
Current stats:
-$800,000 in a pretty equal mix of traditional and Roth retirement accounts and non tax-advantaged mutual funds. Current asset allocation is pretty aggressive on all fronts (90% stocks with an equal mix of international, small, mid and large cap funds).
-House worth $230,000 with $190,000 remaining on mortgage.
-Currently investing approximately $50,000-$60,000 annually into accounts with increases each year as we get kids out of daycare and get raises.
The Plan:
-Continue status quo for next 3 years (2018-2020).
-Sell house and move into towable tiny house in 2021. Continue working and bank the extra money saved on housing for additional 2 years (2021-2023).
-Quit our jobs in 2023 and hit the road to travel around the country in our tiny house.
-We'll live off non tax-advantaged accounts for the 13 years until my husband reaches 59 1/2, then pull from his traditional retirement accounts for 10 years until I reach 59 1/2, then live on my traditional retirement accounts. We'll both also get small pensions in our mid-60s and (maybe) some social security at 70. We hope to not have to touch the Roths so that we can leave those for the kids.
-We'll change our asset allocation to reflect a more conservative approach in each account based on the anticipated timeline in which we plan to use it.
-Expected annual expenses in retirement will range from 40,000-50,000 annually depending on how crazy we get with travel.
TARGET NUMBER FOR RETIREMENT: $1.2 Million!!