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 174,000401K (maxed) + 2 Roths 14,000Taxable Income 160,000Taxes (State & Federal) 55,200Other Expenses (rent/bills/debt 58,800Net Investible Income 46,000Hello Cdavies,I have a couple of ques/comments. What is your adjusted gross income? If it exceeds 160,000 your ability to contribute to a Roth IRA is limited. I forget if contribution limits phase out between 150k- 160k or 160k-170k for couples, but I know its one of the two. I think its between 160-170. Does your wife have the opportunity to contribute to a 401k? It looks as though you are planning on deducting your Roth IRA contributions (10k 401k + 4k Roth IRA = 14k) reguardless of income this is not allowed. Roth IRA contributions are not deductable. These are relatively minor points and therefore things you should already know, so you either forgot while posting your message or maybe just maybe your wife is right. 8^) Otherwise your plan looks sound to me. A couple of suggestions. Look into 401k for your self/wife whichever is not contributing in the plan. Visit the fool school and read the 13 steps. Check out Intercst's Early Retirement Home Page board and web site because you and your wife are defintely on the right track to ER if thats what you want to do.Hope this helps and good luck,Brian The ER home page sitehttp://boards.fool.com/messages.asp?mid=13574776&bid=112992The Fool Schoolhttp://www.fool.com/school/13steps/13steps.htm?ref=STH13st
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