Stats:
-37 Years old, married. 3 children all under 6 years old (each child has a ~8,000 in a 529).
-No debt, except mortgage, ~$400,000 (Bay Area, CA) 27 years left to pay off, just bought house 3 years ago
-Combined ~$400,000 in retirement accounts (mostly 401K/traditional IRA, some Roth) All in the stock market-mostly index funds
-Living within our means currently. Still doing the calculations as to how much we spend/burn rate, but mortgage alone is $25K a year, probably we are at about ~38,000 spending a year outside of the mortgage.
- Also have a decent emergency fund cash stash set aside to cover a year of expenses.
So, it seems at a moderate 5% growth rate in the stocks, we should be at about 1,700,000 at about the time we can start withdrawing without penalty, and also about that time when the mortgage has been paid off. So we should be more than OK with the 4% draw down when we hit 65 years old (4% is 68,000 a year) at that time. Therefore, I'm starting to think, what is the point of us continuing to add to the 401K that we can't touch for 30 years? Also, I don't get any % match at work BTW, but I have to check if my wife does (its a 403B). I can't FIRE with the money that is locked up in the retirement, so perhaps property and rental income is where i should be focused now? Thoughts?