First off, thanks in advance for reading this. I am very new to the FI world and becoming more and more obsessed by the day.
All financials stats are for my wife and I combined, DINK.
Ages: 33 and 32
Hoping to stop working full-time around early 50's. We will not be having children.
This will be the first time really paying attention to where our money and efforts go.
Income: $150,000
401ks: $151,000
Roth IRAs: $26,000
Savings/Emergency Fund: $43,000
Checking: $5,000
Debts
Mortgage: $175,000@3.25% left on $280,000 house(15 year loan)
Cars: $10,000@2.25%(3 year loan)
I am a bit on the fence about owning so much home(payments are $1,600/month), but we just moved in 1 year ago and love the location/big backyard for the dog. Wondering if the house is a major item that needs to be dealt with.
We are planning to budget hard in 2018 and strive for a 40-50% savings rate.
Is thew general recommendation to fill employer match on 401ks, and roth limits before attempting to pay down extra mortgage principal?
Meeting with a financial planner next week, and would love to have more information/questions to bring to the table.