Just posted this in the "Ask a Mustachian" forum but I think this is a better place for it...
Hi all-
I am 27 years old and my husband is 29. We have 2 kids. We have about 100,000 in 401ks (both traditional and roth) and Roth IRAs. We are looking to retire when we are about 35-36. Our combined income is $140,000 gross and we already own an investment property that cash flows about $400/month (2 bedroom condo). Our main strategy for FI is rental properties. We have $15,000 earmarked for another down payment on a property and are adding about $2,500 (including the profits from the condo) into this account every month. We are hoping to get a multiplex.
That being said, we are open to withdrawing from our Roth IRA if we find the perfect property that has good cash flow. Does anyone have any experience with doing this? We figure that we are probably looking at needing about $70k for a sufficient (20%) down payment and reno costs. At our current savings rate, we are looking at just under 2 years until we have enough for a down payment. FYI we started the accounts right out of college, so they have been established for 5 years.
Thoughts?