livingalmostlarge
Recycles dryer sheets
- Joined
- Feb 8, 2014
- Messages
- 334
I am a 34 SAHM with 2 kids. My DH (36) and I are pretty financially conservative and I've been trying to convince him to consider retiring early or at least be less nervous in case something happens before then.
Income gross $130k, but with bonuses last year DH made $200k. Our expenses are PITI $30k/year and $30-35k/year expenses. Rest of our income is saved and taxes. I think if we ER we need to move and buy a home cash to eliminate home expenses.
Savings $450k retirement, $180k taxable investments, $60k Cash EF
Debt $390k mortgage left
House $650k value
We save the maximum retirement savings in 401k and IRA and the rest is taxable accounts. If we conservatively save for 10 more years $50k/year and increase our home equity by $100k so $300k total, we'd have a net worth of $1.5M at least. This would give us 4% SWR of $60k.
It would be enough to not move, but if we move, how much sooner could we ER? Could we do it in 5 years? I think we're on track for 45 for sure, but earlier?
Income gross $130k, but with bonuses last year DH made $200k. Our expenses are PITI $30k/year and $30-35k/year expenses. Rest of our income is saved and taxes. I think if we ER we need to move and buy a home cash to eliminate home expenses.
Savings $450k retirement, $180k taxable investments, $60k Cash EF
Debt $390k mortgage left
House $650k value
We save the maximum retirement savings in 401k and IRA and the rest is taxable accounts. If we conservatively save for 10 more years $50k/year and increase our home equity by $100k so $300k total, we'd have a net worth of $1.5M at least. This would give us 4% SWR of $60k.
It would be enough to not move, but if we move, how much sooner could we ER? Could we do it in 5 years? I think we're on track for 45 for sure, but earlier?