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Retirement Discussions / Retire Well on Less
|Subject: Howdy||Date: 5/26/2004 11:42 PM|
|Author: dozer183e||Number: 594 of 1700|
I've posted this on other boards; but I just found this board and wanted to hear what you had to say:::
I'm selling my home in an expensive area and moving to buy a home in a much less expensive area.
I am 35, married with 4 young kids. Currently, DW and I have about $30,000 each in 401(k)s and IRAs. We have about $25,000 in an e-fund.
I'll have about $280,000 net profit after the sale of my home. We'll be buying a new home for $211,000. My thought was to put 20% down on that home and take a mortgage on the rest. We'll invest the remaining money (approx $240,000) in various ways and for various reasons including: Kids College, Real estate investments, max out IRAs annually, maybe contribute more to 401(k), keep some in money market for future expenses (car, home improvement, vacations, etc).
I've been asked lately by a few people why I