Congrats on the workplace success of both you and your wife, JD.
I'll just add this to the discussion about expenses. It's really hard to truly understand how much you're spending and where you're spending it without closely tracking every dollar of outflow for an extended period. I have a checklist with my monthly expenses similar to the one you posted, and it shows that I spend $3000 per month. But in 2020 I tracked every dollar we spent, and the real number was closer to $5000 per month. This was in part due to some unexpected house and vehicle repair expenses, but also just because it's hard to know what I'm spending on "stuff" when it doesn't fit into one of the big categories or it doesn't come with a monthly bill.
So one thing you might consider is trying to track every penny you and your wife spend over a year just verify that $90K number is correct. It was kind of a pain to do it, but I felt it was data I NEEDED to gather before I could make an informed decision about my ability to retire.
I'll just add this to the discussion about expenses. It's really hard to truly understand how much you're spending and where you're spending it without closely tracking every dollar of outflow for an extended period. I have a checklist with my monthly expenses similar to the one you posted, and it shows that I spend $3000 per month. But in 2020 I tracked every dollar we spent, and the real number was closer to $5000 per month. This was in part due to some unexpected house and vehicle repair expenses, but also just because it's hard to know what I'm spending on "stuff" when it doesn't fit into one of the big categories or it doesn't come with a monthly bill.
So one thing you might consider is trying to track every penny you and your wife spend over a year just verify that $90K number is correct. It was kind of a pain to do it, but I felt it was data I NEEDED to gather before I could make an informed decision about my ability to retire.