Hello! I want to make sure I am understanding since it has been a while since I read all the stuff and got ourselves on track.
We are amazed, we are now at a 59% savings rate- 38 % last year :)
Pretty good.. and hope to beat that record next year. We already fully funded our tIRAs for 2019. I have the retirement 403b set to 33% contributions, which last year met the 18k max at Nov. Luckily HR gave me the correct info and it did indeed still give me the match in Dec, PHEW- still slightly nervous about that though, and not sure we want to bump up the contribution and max earlier.
So now what? I just looked on my HR site, and see we have FSA and HCRA - not the HRA option. Not sure what a back-door roth is- sent the wiki to hubs so he can try to understand it.
Now what do we do with the extra savings each month? I just topped up our emergency fund, thinking my outback at 130k miles might crap out one day, but still going strong. All debt is paid off- own our condo outright.
So i just opened a Vanguard taxable- I think this is my next step, but just want to be sure because of my Q below.
Q. My husband is a student with one more semester to go, doesn't earn loads in his 3 part-time jobs 20k- but is there not a way we can have him contributing to a 401k somehow? Or does he have to be full time to get a retirement fund? Shame we can't get another 18k into retirement per year, just in my 403b. (apart from his ira)
I also just wanted to check that the taxable vanguard account is almost like a savings account correct? If say once I early retire at 52, we want to buy a house with land, i could take it all out of taxable and have $ to buy it? Would i just have to pay tax on the gains, or do we pay taxes on it at the end of every tax year instead?
Probably basic qs, but all new to me.
Thank you!