BackHometown
Dryer sheet wannabe
- Joined
- Aug 18, 2020
- Messages
- 12
Hello to everyone! Finally I found a place to share thoughts about retirement plans.
I am 43 and DH is 39. Two kids in high school and elementary school. Both of us work for Mega corporations with almost same income end up $270k together.
I plan to FIRE in 7-10 years and DH in 15 years. Life is short and doesn't worth wasting on corporate politics.
As of Now, total asset is ~$1.5mm :
1. Both 401ks: 950k
2. Both Roth IRAs: 100k
3. HSA: 50k
4. 529: 80k
5. Cash: 250k (70/30 stock/bond)
6. Asset part in house: 100k
What we are saving each year (after the following not much money left):
1. Maxi 401k (~40k)
2. Roth IRA through backdoor (2*$6k=12k)
3. HSA: 7k
4. 529: 10k for both kids
5. mortgage has 10 years to go. (40k per year)
Expense without kids and mortgage should be below $130k before tax, or 100k after tax.
Going forward, I will update the value of asset every year as record of life growing.
I am a little concerned that pre tax 401k accounts too much in my asset. While no better ways to move it to after tax. (I am not living in tax-friendly states).
Please let me know what you think.
I am 43 and DH is 39. Two kids in high school and elementary school. Both of us work for Mega corporations with almost same income end up $270k together.
I plan to FIRE in 7-10 years and DH in 15 years. Life is short and doesn't worth wasting on corporate politics.
As of Now, total asset is ~$1.5mm :
1. Both 401ks: 950k
2. Both Roth IRAs: 100k
3. HSA: 50k
4. 529: 80k
5. Cash: 250k (70/30 stock/bond)
6. Asset part in house: 100k
What we are saving each year (after the following not much money left):
1. Maxi 401k (~40k)
2. Roth IRA through backdoor (2*$6k=12k)
3. HSA: 7k
4. 529: 10k for both kids
5. mortgage has 10 years to go. (40k per year)
Expense without kids and mortgage should be below $130k before tax, or 100k after tax.
Going forward, I will update the value of asset every year as record of life growing.
I am a little concerned that pre tax 401k accounts too much in my asset. While no better ways to move it to after tax. (I am not living in tax-friendly states).
Please let me know what you think.