I think I have more research and learning to do here...
Start by reading this, probably: http://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple-math-behind-early-retirement/
thank you, after reading this I feel much better
on this, how do you calculate my projections?... I've done it a few different times a few different ways and it always seems wonky. what's a good source on accurately projecting retirement goals?... I've figured 2.5 mil by 2048 when accounting for inflation I can live off 4% interest... ??? I think I have more research and learning to do here...
4% of 2.5MM is 100K, why do you need so much spending money when you currently spend 17K a year?
I came up with 100k because with inflation in 30 yrs. it would be 85% of earnings or so.... I didn't calculate for spending instead, oops! however I do plan on investing in a home which will include a higher spending rate for 30 yrs. or hopefully less...
I guess a few main questions are... I have 50k sitting in savings (40k for down payment, 10k for emergency), what to do?
put it in an ally account?
pay all or part of my student loans off?
put a portion towards pre-taxed savings?(simple or trdIRA)
I don't want to sit on it too much longer cause I feel like im losing to much to inflation(I've been adding to this for 4 or 5 years)
after reading the "investment order" post It said to pay off all debts around 5% or more above the 10yr treasury note yield after emergency fund and company match (which im doing). the 10 yr. TNY looks like about 2.4% so does that really mean "pay off any debts above 7.4%" ??? im a little confused about that.
With the housing interest rates expecting to rise and be close or more than 5% by the end of the year and such low inventory I feel like I might not find the right house for me soon.
I have 6 student loans as follows...
3,847 - 3.15%
4,034 - 6.55%
3,168 - 4.25%
500 - 5.35%
448 - 5.35%
1,622 - 5.75%
close to 13,600
Also the issue I'm having with contributing to my Simple IRA through my employer is the option of funds are wack. Nothing available below a 1% expense ratio... my employer is looking to change in January of 2018 to hopefully get out of it.
Ive been told I my employer can only contribute to the C class...
right now im in the JCLAX fund in class C here-
http://www.jhinvestments.com/Fund/PriceTable.aspxand I don't know what to do
simply put, im scared to contribute more than the match in fear that the expense ratio will eat too much of my earning up...
I do have a traditional IRA open with vanguard but don't know what to invest in through that... ?