All:
I'd like advice on my finances. Here's my info:
1. Life Situation: 32 year-old project manager in Miami. Married, debt-free. Graduated with master's degree in 2015. (Bachelor's in 2010.)
2. Income: $107K + wife $30K
3. Assets: $40K money market savings (CapitalOne 360), ’08 Honda Accord, ’12 Honda Fit
4. 401K: $80,000 (currently set at contributing 10% of my salary per month with 3% employer match) + wife $30K
5. Rent: $1,550
6. Spending: Approx $1,600 to $1,800 per month on food, groceries, entertainment, utilities, gas, cars, etc.
After tax, I get about $6000 per month. $600 of that goes to money market savings. (So 10% of pretax goes to 401k, 10% of after tax goes to savings.)
I keep getting this feeling that I should be buying a home (“renting is throwing money away”), but we are very happy renting right now. We’re in a convenient part of town with a superb rental. Considering having kids in the next year.
Anything else that I should be doing? Do you think we're doing OK or missing something?