Can you save too much??

You going to have kids? That changes everything.

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How much would you set aside for retirement each year?

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My view will likely be different than others... do everything you can to max the $17500 for traditional 401k and max Roth $5500 limits

Also, save to put 20% down on a house (depends on how quickly you want to buy). After that, I would enjoy the hell out of every dollar.

Life is too short and uncertain to save and never enjoy your money.

If i were you i'd focus on minimalist lifestyle and retiring around 45 based on the numbers you provided.

Max the 401 and Roth. HSA too if you can.

After that, don't feel guilty about seeing the world with your wife.

frick the kids college tuition, they wouldn't appreciate it anyway.

Are you saving only $22,000 on 150k salary? That's less than 15%. You said 50/50 Roth/ Ira split?

If you are putting 20% into retirement and 5-10% more into savings, then pay your house off. Once your house is paid off you can start to save for a fun investment such as a vacation home. It's not going to make you a killing but if you can make 4% and enjoy it that's great.

Give to charity and live a better life. But as said, wait for kids. You are talking an easy 15k per kid a year, eats up that 'extra' pretty quick.

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I'm not discounting your advice, just showing that it's not exactly a 100k/year lifestyle.

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Define your goals. First and foremost, you should determine what your desired outcome is. When you'd like to retire, what sort of house you'll want to buy, timeline for children and how that may affect your income (wife stays home), etc.

My two cents: Saving now is going to be easier than at any time in your life going forward. Kids, Mortgage/House expenses, etc. are going to drain that income. You need to take advantage of the tax advantaged opportunities you have NOW (ROTH and Maxing 401k). You'll never get this time back and a solid foundation now will have an enormous impact on the back end. (COMPOUND INTEREST).

I would absolutely focus more on filling that tax advantaged space now than on saving a down payment for a house. You have the cash now to invest, you have minimal monthly expenses (i.e., you can afford it), and interest rates are going to stay low for when you eventually purchase a house. At the very least, bump up your 401k savings and continue to max your Roths.

Again, it all depends on your goals, do you want to be set for a comfortable retirement at an early age or do you want to buy a jet ski. You'll never regret more in retirement.

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I am not following how a combined $150K salary pays $50K+ in taxes if you are dumping all you both can in 401K.

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It's hard to know what his take home would actually be without more information, but I agree, that $97k is too low given 2 maxed 401k's.

yea it is low, but you are also accounting for your hard bills as non life style choices. They are. Especially given that you are debt free.

I have a family of 5 which includes me and we spend just over $4k for Bills but I am also paying for two rents at the moment and two sets of utilities. Although we have no debt other than a van. (Recently paid off all other debts!!!!!!)

I make good money, but that kind of puts it into perspective for you.

Early on in our life we put more value in nice things than having experiences.

It's good that you are thinking about this with your spouse this early. Really good.

I think you both have to decide how you want to spend your life outside of work and have a life style that supports that. Maybe you can both cut down on the hard bills to have more disposable income and still save the amount you want.