Hello,
I currently have no debt out side of a 144k mortgage on 170k home. Our household savings rate is roughly 33% per month. About $1500. I work for an employee owned company that has been consistently profitable for 50 + years. My job is very steady and I am early into my working career. 30 Y/O...been here 5 years. Because it is employee owned, we received company stock essentially, which is more or less a free 401k. Its an ESOP company. If i leave this alone it should, based on past performance, last 20 years of historical data, dramatically outperform savings I can do in my own 401k, even at max. Realistically leaving me with more than enough in retirement.
I currently contribute 6% to 401k with no employee match. My question is...is it really worth it for me to up my contribution and max my 401k. My thinking is that over 59 1/2 I will be all set. And I want to retire early. At age 50. Essentially I need investments to bridge that gap.
I am thinking the best thing for me to do is to Max Roth IRA in Vanguard every year for myself and my wife. Then pay down the mortgage early with extra savings. And finally invest in Vanguard taxable index funds. Does this seem correct?