Hey guys, first post here.
The backstory:
-got married September 2014
-bought a house December 2015 ($290,000)
-age 27
-wife age 32
-dual income, both from the same company (where we met, she's been there 11 years, me 6)
-"living" expenses = just under 50% of take home pay. By 2019 this will drop to about 40% just by default.
My question is in regards to both of our retirement funds. Our company offers both Roth 401k and traditional 401k, and they match 50% of your first 6%. I have both accounts, the wife has traditional only. I have about 26k in the traditional, and 9k in the Roth. We reviews our budget last week and found through some simple re-allocation of our income, we should be able to save roughly $36,000 a year. Now we are trying to figure out how to divide and conquer. Should we be investing both accounts into the same markets? Or would it be beneficial to do differently with one versus the other? my goal is to "retire" by 40, and take on an extremely part time or side gig from there in an interest of my choosing. If this becomes reality, that still leaves another 20 years before I can touch those funds. Which makes me think, I should be investing more into a non-retirement account, or even a Roth IRA where the principal could be withdrawn of necessary. I've been doing my best to research and absorb as much info as I can, but it's depressing that SO much of Ameica is set on retiring at 65 with 5 million dollars on hand just to "live comfortably". Ideally, we want to figure out where to keep our emergency fund, short term retirement (funds that would be accessible at 40, and finally what the keep in the long term retirement accounts. Any and all advice and direction is much appreciated!