Hello All,
Long time reader of MMM, first time poster on this forum. Below are my "stats". I'm 28 years old, employed, and just found out my fiance and I are expecting our first child next year in july/aug. I didn't start this journey until early this year. Just want to see how you feel I'm doing and what I can do better. Thanks everyone!
Bank:
Checking: $30
Savings (Emergency Fund): $9790.86
Brokerage: $26,982.98 (50% VFIAX/ 50% VSMAX)
Roth-IRA: $7409.97 (50% VGTSX/ 50% VTSMX)
Total Liquid: $34,800.62
investment allocation:
1k/month split into 2 RIRA for spouse and I (max out)
1250/month 529 plan starting next year (max out)
1k/ month into Brokerage account
500/month padding savings/emergency fund
left over: $122.14
Asset
House: $332,687
Car: $20,000
Debt:
Mortgage: $288,498.18
no credit card debt
Income (monthly/gross):
VA Pension: $1,522.96
Employment: $6,416.66
Monthly Expenses:
Mortgage: $(1,775.77)
Car Insurance: $(87.55)
Live on own well, and septic. Live in country-side, no cable
Utilities (Internet, Electric) Winter max $(240.00)
Gas: $(120.00) (take public transport into city for work)
Verizon $(53.75)
Gym $(10.00)
Netflix : $(7.99)
Yearly total : $(27,540.72)
yearly savings: $46,464
Savings rate: 63%
Time to retirement:
11 years if trying to cover entire expense outside pension and on 4% withdraw only
4 years if in addition to pension income