What are your other expenses? That will help you determine what your goal should be if you want to retire at 45. The bills you've outlined here can't be the only stuff you spend money on. How about: Internet, phone/cellphone, personal care, laundry, entertainment, eating out, etc.? Not that I'm saying that you should be spending money on these things--just that you probably do.
And what's the deal with the student loan that your wife's dad is paying? Is it his, or has he assumed responsibility for one of hers?
It's great that your home is appreciating, although a 100-mile round-trip commute sounds so painful. Do you need as much space as you bought? Is there any location that's closer to your wife's place of work, but would still allow you to take the bus?
A $50K emergency fund seems crazy to me, unless you mean it's an investment fund that you're willing to tap if need be. And for six months... are the two of you really spending or ever need to spend $8,333/month?