I appreciate any insight anyone is looking to give me here! My wife and I are both 32 and work jobs that make just north of 100k each. She is currently stepping back in preparation for our first child and expect her to go back part time for the next 1-5 years which limits disposable income. Child care is covered and mortgage on live in home is favorable. We live frugally, well within our current means with no large aspirations for a lavish lifestyle.
Anyway here’s where we are at…
Both contribute 10 percent to 401ks invested in American Funds 2055 target date. Combined we have about 180k so far.
Max Roth IRA yearly in a total U.S. market fund.
Personal brokerage account with about 23k in the sp500 index fund.
Real estate portfolio bringing in approximately 3k monthly cash flow after every expense.
50k in a HYSA at 3.7 percent.
5k cash on hand.
Next up? 529 for kid? Or other alternatives? Are we doing enough to retire by early 60s? Any insight to how we are doing just to get a sense of it all.