Hey guys,
Found this site a few months ago and have slowly been grooming my stache to get my spending in check. My wife and I are currently slashing our bills one by one and generating a savings surplus to invest for early retirement. However, I am unsure as to how to divide investments between retirement accounts (for old man money) vs taxable mutual funds (for the gap years between retirement and my old man money). I have searched around the site and the forum and can't find a clear answer to this, so wanted to ask it here since many of you have this stuff nailed down (and, despite me having an MBA, I suck hard at math!).
Here is my current position:
1. Age: I'm 31, and the wife is 34 (with a 2 year old)
2. Annual Income: mid 80's, though this will go up when my wife goes back to work this year.
3. Pre-Mustachian monthly spending was previously around 4k, but we have yet recalculated this since we have been ultra-focused on bill cutting (and, oh yeah, raising the little one!). It will obviously be much lower, but have to sit down with the wife after the holidays are over to get the numbers. So, whatever the surplus is will go towards investing.
4. Mortgage: 93k remaining with 3% interest rate. Year 3 of 15 year term.
5. IRA - 72k
6. Roth IRA/401K - 42k
7. Savings - 48k...was previously on the Dave Ramsey Plan of healthy emergency funds, but going to invest a substantial chunk of this when I make the decision.
8. No Rental Properties
I am currently only investing 6% in my 401k to get the match, so not sure if I should focus on maxing that out first before I focus on taxable accounts at all? Or, do I need some sort of blended rate to cover the gap years before I can touch retirement accounts? So, what do you guys think or do you need more information? Thanks for the help!