Recent content by mark3rs

Age 40 - 2017 Update Age - 40 Married (SAM) - 2 children (7 and 9) Annual Income - $250,000 Current Retirement Savings - $800,000 (all tax deferred) Emergency Fund - $100,000 Debt - Mortgage of $235,000 (15 years left) Yearly Savings - $45,000 to 401k (including employer contribution)...

36 must have been wishful thinking - 38 is correct. We are not eligible for a Roth b/c bonus income puts us over the limit for the past few years. Bonus is very uncertain and we do not count it as part of our budget for determining income needs post retirement. $100,000 does include tax...

Age - 38 Married (SAM) - 2 children (4 and 7) Annual Income - $167,000 Current Retirement Savings - $570,000 (all tax deferred) Emergency Fund - $30,000 Debt - Mortgage of $270,000 and $600 car payment for another 2 years Yearly Savings - $45,000 to 401k (including employer profit sharing)...

Small Milestone Reached $400,000 in 401K accounts. Age 36 - continuing to stash $$ away in tax deferred accounts at a rate of $40,000/yr until FIRE at around 59.5.

I certainly do not want to put family at risk. In the event of job loss, I have two IRAs with a total of $90,000 - which is about 7 mos expenses (with no cut in lifestyle) after taxes and 10% penalty - this would be tapped only after 3 mos cash is running out. The IRAs are not part of my...

it certainly does happen... 17.5x gross salary in life insurance and about 80% income replacement for LTD. No HELOC - currently not enough equity Not eligible for a ROTH but certainly will need to save more for retirement than 401k max and will likely start in the next couple of years...

Are high dollar emergency funds necessary if you have secure employment and a substantial 401k? We have 3 months of expenses in cash - secure professional employment (for one - wife stays home with 2 kids) - and 2.5x gross salary in 401k - age 36. I know that traditional wisdom suggests 6-12...

Upon further review of my budget, my $100,000 in retirement income needs may have been a little aggressive. If I assume that the house will be paid for and kids educational expenses will be paid for I think I am looking at more like $75,000 in todays dollars. That said, travel, my dream...

GrayHare - your assumption is the very assumption that I think many people miss. My modification of that assumption is that I currently spend the money I would pay in tax as result of the r401k on eating out and other non-essentials. By contributing to the r401k I take otherwise disposable...

GrayHare - are they really the same under my modified assumption (that I will pay taxes in addition to my contribution)? If I put 17k in a t401k and 17k in a r401k the balances may be the same at retirement but r401k is tax free dollars so it actually has more value than t401k dollars that I...

Thought this discussion may be worth its own thread. What is the consensus on ROTH401k vs 401k. I understand there are a lot of variables, but the most common analysis is current tax rate vs anticipated future tax rate at time of retirement. If you anticipate a higher tax rate at retirement...

Thanks for all the input. I feel like I could increase the future buying power of my current 401K contributions if I put them in the ROTH401k instead of the regular 401k. Seems like most analysis on the subject assumes that I will put less in the ROTH401k to cover the taxes. If I put the same...

My retirement income goal is $100,000 before taxes - I could likely ratchet down the income needed in retirement a little - living on roughly 95,000 today (after taxes) and will have house paid for before ER. I am not eligible for a ROTH (have had bonus income putting us over limit - but...

36 - waiting for 59.5 Some background: Age - 36 Married (SAM) - 2 children (3 and 6) Annual Income - $150,000 Current Retirement Savings - $380,000 (all tax deferred) Emergency Fund - $30,000 Debt - Mortgage of $275,000 and $600 car payment for another 3 years Yearly Savings - $45,000 to 401k...