Hello mustachians! I'm hoping that you can offer some opinions and advice on our current situation. I personally feel like our finances are a mess, but honestly, I don't feel very motivated to clean things up (I.e., finalize a budget, categorize expenses, etc.) because it feels like we are making decent progress towards our goals (listed below) and we are both very busy with our careers. Though, without cleaning things up it's very subjective to gauge how we are doing, which is likely why I am posting here for opinions and advice. Anywho....
Age:
-29M/28F Married
Combined Income:
-~210,000 base + ~$20,000ish bonuses
Location:
-Currently Denver, CO but planning on moving to LCOL Michigan in the next 1.5 years. Income will likely be similar
Housing:
-$2,442/mo rental
Expenses:
-??
Debts:
-None; made the mistake of buying a brand new truck, but it's paid off and will last us for a very long time.
-Already paid off student loans (~$60,000) and car loans
Net Worth:
-Cash: $20,000
-Retirement Accounts: $275,000
-Taxable Accounts: $25,000
-Total:~$320,000
Goals:
-Save up for a down payment and purchase a home @ <2 years annual income (I.e., <$500,000)
-7-figure liquid net worth (I.e., minus house) by 40
-Find a more fulfilling career for myself by 40. Very likely will result in a pay cut
-Have 2 kids (currently 0)
Stretch Goals:
-Paid off house by 40
Questions/Opinions:
-Have others utilized a goals-based approach as opposed to tracking details like we are? Does it work? Or should we consider the extra time to "take full control"
-With the above plan, or lack thereof, thoughts on the appropriate time to make a career change from software? I'm not a developer, but I work more on the strategy/product side of software
-General thoughts, opinions, advice, or tips for us as we are still young and looking to grow our nest egg
Thanks in advance.