Hello MMM community!
I wanted to post about my family and where we stand financially.
My hope is that I can get some great advice on how to get me to early retirement by 38 so I can be home more with my young family.
Family-
I am 36, my wife is 35, children 6, 4, 2, and 10months. We live in Highlands Ranch, Colorado.
We have $372k in 401k and IRAs.
Each child has about 2k in UTMAs
$10k in savings
Drive 2 paid for cars and I bike to work 4 miles away.
I make $120k per year, my wife is a stay at home mom that freelances for about $12k per year.
Our only debt is our home that is $300k with a $2k mortgage (current home value is about $400k).
We spend an additional 2k per month in our budget.
This leaves about $3500k we are starting to save per month.
We started our debt payoff journey in 2013 when we followed the Dave Ramsey Plan and paid off 101k in 18 months. I have since found Mr Money Mustache and want to spend quality time with my large, young family before they grow up and move out. I plan to work at my current job for 2 more years while we pile up savings. This will give us $84k in savings. Where should I put this money?
My goal is to "retire" by 38 and stay in our current home. We love the area with all of the trails, closeness to family, rec centers, walk and bike to park and schools.
I really want to work on a plan for my family and am hoping the Mustachian community can get me on the straight and narrow!
Thank you everyone for your time and help!