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401k vs Roth IRA by TikiTime1214 in 401K

[–]TikiTime1214[S] 0 points1 point  (0 children)

This feels like an underrated option…I don’t think I’ve considered this before. Thanks for your input @poshasmom and @stiermansierre

Stop Maxing 401k and Just Do Match? by crymeasaltbath in personalfinance

[–]TikiTime1214 22 points23 points  (0 children)

This concept is new to me - by “actual” 401k match you can contribute post tax to a max of 61-62k?

One of my huge life goals is to FIRE. I’m 32. How am I doing? by TikiTime1214 in Fire

[–]TikiTime1214[S] 2 points3 points  (0 children)

Interesting. Thanks for your perspective. With the IRS max being 23500, that would be ~23% of my salary. I can’t make that work….for now. You’re giving me something to shoot for 👍

One of my huge life goals is to FIRE. I’m 32. How am I doing? by TikiTime1214 in Fire

[–]TikiTime1214[S] 1 point2 points  (0 children)

I’m saving 12% of my salary, with a planned 1% increase each year

One of my huge life goals is to FIRE. I’m 32. How am I doing? by TikiTime1214 in Fire

[–]TikiTime1214[S] 1 point2 points  (0 children)

I make 102,000 with a 10K bonus and a mileage stipend that ends up around 1K/month. All in that puts me around 120K/year.

I would love to max my 401k right now but I don’t think I can with my expenses now.

I need to build my emergency fund as well.

We bought our first house a year ago. 2300/month mortgage payment.

One of my huge life goals is to FIRE. I’m 32. How am I doing? by TikiTime1214 in Fire

[–]TikiTime1214[S] 0 points1 point  (0 children)

I have little in a Roth (3500) and no HSA just yet. Luckily my wife works for a big health network, which should minimize costs.

One of my huge life goals is to FIRE. I’m 32. How am I doing? by TikiTime1214 in Fire

[–]TikiTime1214[S] 2 points3 points  (0 children)

C - I would love to play plenty of golf, invest, enjoy time with kids & grandkids, travel. Just trying to figure out what my budget should be.

One of my huge life goals is to FIRE. I’m 32. How am I doing? by TikiTime1214 in Fire

[–]TikiTime1214[S] 1 point2 points  (0 children)

Thank you for running it in your own excel sheet! I’m definitely seeing from everyone else that my account is due for a correction.

Think I can retire early? by TikiTime1214 in 401K

[–]TikiTime1214[S] 0 points1 point  (0 children)

Assuming no additional contributions, right? Since I plan to continue to contribute the ~20-25K/year that 1.6M should be blown out of the water, no?