DW and I have $175,000 invested now. Currently investing $55k/year, about to increase to $62k/year, and then to about $75k/year over the next four years as loans are paid off. I'm 42, she's 40 - just found the mustache 2 years ago.
I make $98k, DW makes ~$85k. Two kids, 13 and 9. Twelve years to go on $260k mortgage at 2.75%.
Four years to go on $40k student loan at 3.5% ($558/month). Three years to go on $11k student loan at 5% ($324/month). Two years to go on $4k home-energy-efficiency loan at 1.9% ($234/month). As those go away we'll put the extra into investments.
What we'd like to do is continue basically as we are for the next four or five years, and then I would downshift pretty dramatically, either part-time in my current role (gov't attorney) or similar, or switch to something completely different. She would keep working a few more years.
Our investment balances should be about $400-500k at that point, and no debt other than the mortgage. One kid would likely be looking at colleges around then.
Really just looking to tap the hive-mind here. Is this a crazy plan? What should I be thinking about? Is there a calculator somewhere that can accommodate this level of detail?
Thanks in advance!