Short question:
What should i do first?
Pay off house, or add more into personal taxable retirement account?
Long question with details:
29 years old, no family, no kids, never will happen. Goal is to retire on around 20-30k/year by age of 45, maybe sooner :)
gross 30-80k a year (thanks mr over and double time; but i would say average of just 45k)
20% - taxes/healthcare
20% - roth 401k
20% - into personal retirement account
~% - maxing out IRA
15% - ESPP (which when sold will be put into personal retirement account. This ESPP has already double in value averaging all my buyins)
So basically 80% of my income goes to retirement of sorts.
20% onto eating out and food (yeah i need to cut back on eating out....)
~% - house bill, utilities
No debt, other than the house.
I have a personal loan with my father with a 3.75% rate for 100k. I still owe around 60k. Loan has been active for 1 year with min payments of 1k a month. (figured it would be better to pay him a car's payment in interest than the bank!)
Should i just keep throwing money into my personal retirement account? Pay off my dad? Cut back on the 401k and IRA?
Currently i believe i should cut back on the 401k up to the matching point of my company, and then pay off my house.
But now that i have found this site and some others, i am wanting to ask rather than just wing this early retirement thing like i have been doing for 10 years on my own :)