Looking to understand exactly how best to use the formula provided in the introductory posts to allow my husband to not only retire in a reasonable number of years, but also to step out of the job he currently has which, after 14 years with the company, and working his way up the ranks, is really wearing him down (note, I am a stay-at-home with our 2 children, 4 and 1).

If I understand what is being said in the initial post by saving 70% of his take home he can retire in approximately 10 years. Now I did some math and figured that at the moment we are on average saving around 50-60% of his take home. Which is good, but obviously could be better.

Now we currently have enough in savings that we could pay off our only two remaining loans (one school, and current home) and still have a nice save buffer amount in the bank. However the question is this: would it be best to pay off both loans, or to put that money into investments instead?

By my math if we pay off both loans our regular monthly expenses could go down to be around 700-1000$ a month, which would mean even saving the 70% he'd only need a job paying around 9$ an hour (I figured the 1000$ as 30% of monthly income). But to pay them off would take 2/3 of our current savings, so is it worth it?

Any advice appreciated,especially if I'm misinterpreting how the savings math works.