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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: rementis on July 24, 2014, 04:55:15 PM

Title: Need a checkup
Post by: rementis on July 24, 2014, 04:55:15 PM

I thought perhaps I could lay out my current finances and get some opinions as to what kind of shape I'm in and what I should be focusing on.

Age: 44
401k:  230k
Cash:  20k
Total debt:  $0

I'm married, have a 19 year old son in college.

We are currently renting a house, but looking to possibly buy one soon.

Anything thoughts as to how I'm doing do far or what I should be concentrating on?

Title: Re: Need a checkup
Post by: solon on July 24, 2014, 05:11:12 PM

My guess is, you probably don't have enough socked away yet, but you're getting close. Do you have an income? Can you keep contributing to the 401k?

Title: Re: Need a checkup
Post by: gimp on July 24, 2014, 05:13:45 PM

What's your income and spending?

Title: Re: Need a checkup
Post by: Thegoblinchief on July 24, 2014, 05:48:10 PM

Okay? Good? Terrible?

Impossible to say without further details, but your 401(k) balance is pretty low for someone your age.

Title: Re: Need a checkup
Post by: rementis on July 25, 2014, 10:35:57 AM

Sorry if I didn't put enough info, here's an update:

Age: 44
401k:  230k
Cash:  20k
Total debt:  $0
Salary:  $95k
Wife's income: $15k
Current rent: $1650

Is there anything else I'm missing?

Title: Re: Need a checkup
Post by: 4alpacas on July 25, 2014, 10:39:36 AM

Quote from: rementis on July 25, 2014, 10:35:57 AM

Sorry if I didn't put enough info, here's an update:

Age: 44
401k:  230k
Cash:  20k
Total debt:  $0
Salary:  $95k
Wife's income: $15k
Current rent: $1650

Is there anything else I'm missing?

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