Life Situation: I am 25 and my soon to be husband (now on referred to as dh for simplicity sake) is 29. We are both engineers in Minnesota and have had significant raises in the past year. For the 2018 tax year we will be filing as married for the first time. We live together in a 2 bed 1 bath house with our 2 dogs (yeah un-mustachian but we're both suckers for dogs). We started to join our finance last year but "officially" merged them in January.
Gross Salary/Wages: Total expected 2018 income (already had raises and bonuses this year)
$93,038.50 me ($9700 was from bonuses)
$103,000.20 dh ($5740 was from a bonus)
Individual amounts of each Pre-tax deductions Also expected for 2018
$6,300.00 HAS (Employer Contribution 300 each)
$22,693.00 T401k (Employer Matches 50% up to 8%, so essentially 4% match)
$1,151.00 Insurance (Individual HDHP Plans Deductible $2400, Out of Pocket max $3500)
$792.00 Metro Pass
$38.88 SupADB
No other Income
Adjusted Gross Income: $165,063.82
Taxes: This is an estimate of this years taxes based of of last years taxes so I think I am overestimating...
$30,434.90 Fed Withholding
$2,551.39 Fed MED/EE
$10,908.11 Fed OASDI/EE
$10,308.85 MN Withholding
Other Deductions:
$1,636.76 UnitedWay
$14,307.00 Roth 401k
Take Home Pay:
$94,916.81 Annually
$7,909.73 Monthly
Current expenses:
Monthly Average for January through April with some adjustments up for know future expenses
$1,300.00 Mortgage (TI-$274 PI-$1026)
$98.00 Electric
$45.00 Internet
$118.00 Phone
$22.00 Trash
$45.00 Water/sewer
$122.00 House & Car Insurance
$1,250.00 Student Loan (My father is paying $1600, we agreed to pay 50% of school cost each and I paid for a semester in cash)
$9.00 Netflix
$400.00 Individual ($200 to individual accounts, ie personal entertainment etc, not really spending that much every month)
$563.00 Groceries (Includes household items, I know it's high and we've been working on it but my dh loves to cook fancy food)
$113.00 Liquor (this is surprisingly better than it used to be…)
$305.00 Eating Out (Again I know it's high but we like to be social and enjoy good food… we're working on it)
$142.00 Gas & Maintenance
$299.00 Dogs (Includes food, vet, medicine, both dogs had unusually high vet bills this year that we don't expect to continue)
$155.00 Wellness (gym and race entries - triathlon & Swimming, should go down we paid for all activities for this year besides gym)
$200.00 Travel (We haven't spent this much but have some upcoming trips that haven't been paid for yet)
$150.00 Gifts (Includes savings for Christmas time)
$75.00 Clothing
$140.00 Home
$185.00 Miscellaneous
$5,736.00 Total Annually=$68,832.00
$2,173.73 Left over (Roth IRA first then what?)
Assets:
$7,298.99 Checking
$522.38 Savings
$57,013.39 Money Market (0.3% Savings rate)
$26,608.10 My Vanguard 401K Target Retirement 2055 Trust 1
$80,987.65 DH's 401k same^ (Current Allocation VSMPX 53.8%, VTPSX 36.0%, VTBNX 7.2%, VTIFX 3.0%)
$192,140.00 Home Estimate (Zillow)
$2,397.79 Optum H.S.A Me ($360 invested in VTSAX, $2000 min balance before investing)
$2,000.00 Optum H.S.A DH (Guess right now as don't have it connected to PC)
$368,968.30 Total
Liabilities:
-$3,443.63 American Express CC (Paid off every month)
-$81,792.93 Sofi Studen Loan (Refi'd to 7 year term 3.875% with $1341.78 min payment 6.5 years left, plan to pay off in 2020)
-$170,616.56 House Loan (Original $180,000 at 4%, minimum payment $1133.37, in dh name)
-$255,853.12 Total
$113,115.18 Net Worth
Specific Question(s): I've been leaning more and more mustachian as I've spent more time on the site. My dh was reluctant about the whole idea but has been slowly coming around. I know we have lots of room to grow. We are planning on fully funding Roth IRA's by the end of the year, but it will be new for both of us. This is also the first year that we are maxing out our 401k's and HSA's. We probably deserve a few punches so go ahead and throw em, I'll do my best at implementing solutions.
In general just looking for some helpful guidance about what to do next on our (long) journey to FIRE. Our wedding is next month and I am expecting about a $10k hit to our savings in the next month. I know, I know but it was all planned before I found MMM and FIRE, gah!
I really appreciate any help!