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Started By
Message
Question on retirement status
Posted on 3/18/19 at 9:51 pm
Posted on 3/18/19 at 9:51 pm
What is your perspective?
Wife and I make, combine, about equal take homes, 260k total. (Note this is starting this year after raise, last year was 253 k.
I have been in my roll for 5 years. Prior was graduate school. Wife has been working 10 years, straight out of undergraduate.
I am 35, she is 36. We have 2 kids.
Her 1st 401k was rolled over and worth 230k, last time 8 checked. Her current 401k is 115k. My 401k is near 150k. We max contributions each year. We own, outright, 40 acres worth 190-200k on the market. We have another 30k in an investment account (just started playing in this space). We have 35k in checking with 2% interest.
Been in the current house 2 years. Worth 350k, own 275k on it. Owe 10 k on a 2017 car and 29 k on a 2017 pickup. No revolving credit card debt. Use them for %cash and pay off every month.
I feel like at 35 we should be ahead ~700k in assets/saving. Debt is 315k (ish).
I do have an expensive hobby, track time...
Wife and I make, combine, about equal take homes, 260k total. (Note this is starting this year after raise, last year was 253 k.
I have been in my roll for 5 years. Prior was graduate school. Wife has been working 10 years, straight out of undergraduate.
I am 35, she is 36. We have 2 kids.
Her 1st 401k was rolled over and worth 230k, last time 8 checked. Her current 401k is 115k. My 401k is near 150k. We max contributions each year. We own, outright, 40 acres worth 190-200k on the market. We have another 30k in an investment account (just started playing in this space). We have 35k in checking with 2% interest.
Been in the current house 2 years. Worth 350k, own 275k on it. Owe 10 k on a 2017 car and 29 k on a 2017 pickup. No revolving credit card debt. Use them for %cash and pay off every month.
I feel like at 35 we should be ahead ~700k in assets/saving. Debt is 315k (ish).
I do have an expensive hobby, track time...
10
Posted on 3/18/19 at 10:48 pm to littlePNdaB
Subtle...
Posted on 3/18/19 at 10:53 pm to littlePNdaB
You'll never have enough.
I'd just do hookers and blow.
I'd just do hookers and blow.
Posted on 3/18/19 at 10:54 pm to littlePNdaB
quote:how about a mule?
We own, outright, 40 acres
Posted on 3/19/19 at 6:22 am to littlePNdaB
This is just a brag thread if true, but then you knew that already.
My perspective is you are doing well for yourselves. But you can always save more.
My perspective is you are doing well for yourselves. But you can always save more.
Posted on 3/19/19 at 7:43 am to littlePNdaB
Your wife graduated undergrad at 26, and was then able to accumulate $230k + $115k = $345k in 401ks by age 36?
Posted on 3/19/19 at 7:52 am to PhiTiger1764
Although high, that’s not completely outlandish. If she landed a good job out of grad school, company contributions in 401k, and how the market has performed the last 10 years, it’s feasible.
Posted on 3/19/19 at 8:02 am to littlePNdaB
quote:
What is your perspective?
Wife and I make, combine, about equal take homes, 260k total. (Note this is starting this year after raise, last year was 253 k.
I have been in my roll for 5 years. Prior was graduate school. Wife has been working 10 years, straight out of undergraduate.
I am 35, she is 36. We have 2 kids.
Her 1st 401k was rolled over and worth 230k, last time 8 checked. Her current 401k is 115k. My 401k is near 150k. We max contributions each year. We own, outright, 40 acres worth 190-200k on the market. We have another 30k in an investment account (just started playing in this space). We have 35k in checking with 2% interest.
Been in the current house 2 years. Worth 350k, own 275k on it. Owe 10 k on a 2017 car and 29 k on a 2017 pickup. No revolving credit card debt. Use them for %cash and pay off every month.
I feel like at 35 we should be ahead ~700k in assets/saving. Debt is 315k (ish).
I do have an expensive hobby, track time...
I'm 37, HA, I win!!
Posted on 3/19/19 at 8:03 am to HYDRebs
quote:
Although high, that’s not completely outlandish. If she landed a good job out of grad school, company contributions in 401k, and how the market has performed the last 10 years, it’s feasible.
True. My money has doubled since 2015. 26 isn't exactly young to finish undergrad but maybe she started late. I still find it highly unusual for someone to come out of undergrad making enough money to feel comfortable socking away $18,000 a year. Not impossible though. Maybe she worked somewhere with ridiculous profit sharing.
Posted on 3/19/19 at 8:08 am to littlePNdaB
quote:
What is your perspective?
that i know dabigfella and he is richer than you
he drives rolls royces in whataburger drive thrus baw
Posted on 3/19/19 at 9:26 am to PhiTiger1764
Graduated at 23, meant to type 10+ years
Posted on 3/19/19 at 9:29 am to MrJimBeam
It was not meant to be a brag thread. I just never get the perspective that we are "set". My goal is to retire by 55... hence the getting personal investment started.
Posted on 3/19/19 at 9:30 am to HYDRebs
Our company match is 3%, we max at 18k. Company normally makes extra contributions to our 401k. Last year was an extra 15. This year is an extra 5 k.
Posted on 3/19/19 at 9:32 am to littlePNdaB
quote:
I just never get the perspective that we are "set"
It seems you are doing well, I'd just keep doing what you are doing.
Posted on 3/19/19 at 9:32 am to TheWiz
quote:
Maybe she worked somewhere with ridiculous profit sharing.
^This. I always had heard about companies matching contributions to a certain percent, but I was never fully aware about profit sharing into 401ks. I was blessed I ended up at a company out of college that did ~10% profit sharing yearly of employees salary. Its been a godsend.
Posted on 3/19/19 at 10:44 am to HYDRebs
I think Law Firm partners can see some seriously nice deposits on a good year.
Posted on 3/19/19 at 5:46 pm to littlePNdaB
quote:
I do have an expensive hobby, track time...
Nah. Once the car is paid for, only if you hit something or blow an engine.
I've spent more on most of my other hobbies than going to the track. I assume you mean high performance driving sessions and not actual racing...
I don't mean to sound like a richard, but the track time isn't the most expensive thing in your household. You mentioned two kids, I believe? How's the college fund looking?
Posted on 3/19/19 at 7:30 pm to littlePNdaB
You are doing better than 97 percent of the people in this country including myself. Be thankful. Does this long brag about your hard work and good fortune come with a question?
Posted on 3/19/19 at 10:56 pm to littlePNdaB
quote:
I have been in my roll for 5 years
English major? Or baker?
This post was edited on 3/19/19 at 10:56 pm
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