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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 79108  
Subject: Re: Great opportunity...need advice Date: 10/27/2000 11:24 AM
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cdavies9954 asks,

Between us both, our pretax income is $174,000. We have minimal debt, and want a house in two years. Sounds like a trip down Pleasantville Road, huh? Not quite yet.... The only savings we have to speak of is 30,000 in a discount broker account from a 401K rollover from my last employer(which I am proud of doing before I ever found this website).

Here is what I am proposing to my wife for the short term investing "game" (She thinks I am a rookie and have no financial savy) that's making our financial discussions edgy.

Our Income 174,000
401K (maxed) + 2 Roths 14,000
Taxable Income 160,000
Taxes (State & Federal) 55,200
Other Expenses (rent/bills/debt 58,800
Net Investible Income 46,000

That's an excellent plan! Saving more than 25% of your income at such a young age should put you well on the path to retiring before age 50.

There's a spreadsheet on the Retire Early Home Page, the Millennium Edition -- Generation-X Retirement Calculator, that can show you the effect of various levels of savings and spending on your retirement date, it's worth a look:


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