Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
$150K household income, 30 years old. Until last year, household income was about $75K.
Between the two of us, we have about $55K in retirement savings (mix of Roth IRA and 403b) and $7K in student loan debt. We're now maxing out the Roth and 403b, so that number should increase dramatically over the next few years.
Notes:
- 529 is a little behind. Will work on it this year
- Started a new job recently, need to think about transferring old 401k to IRA. May go with Vanguard
250k in 401ks/Roths
130k equity in our townhouse
20k in wife's employee stock plan
100k in cash most of which will be used for a SFH downpayment in the next year or two
4k in 529 plan
We live in a very high COL area, and daycare bills for the kids have been crushing the past few years or else we'd probably have more. We're close to the max on our 401ks and I'm hoping soon to hit that and then start doing a backdoor Roth conversion every year to put more money away. 529 could use some love too but there just isn't enough to go around it seems like. I think we're in decent shape though
$150K household income, 30 years old. Until last year, household income was about $75K.
Between the two of us, we have about $55K in retirement savings (mix of Roth IRA and 403b) and $7K in student loan debt. We're now maxing out the Roth and 403b, so that number should increase dramatically over the next few years.
Husband also has a pension.
The pension is nice...but don't even count it at all until much later - chances are he'll change jobs before it amounts to much, or god forbid the pension will go under or the conditions of collecting it could change. Maybe in 20 years you can start to see what it'll do for you...
I hit it in my early 50s. I'm now 61 with about $2 million (plus other non-401k assets but they are not all that large) and still working.
Target is $5 million in total capital - house(s), 401(k), taxable savings.
Great job! You are my role model now.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
