So after five years my wife in finally completely on board with the FIRE movement. Prior to that we paid off all our student loans, own our car outright and have no debt whatsoever at this point. Both of us have our 401k's and tIRA's maxed out with her playing catch up on both. We are making a few tweaks this month to save more money on cellphone plans, entertainment and hobbies. She is a lifelong seamstress who also does leather working and 3d printing. We are talking about opening up a small Etsy store and see about selling the things she likes to make for fun to help cover her hobbies and anything extra into savings. We're talking about either getting mopeds, electric bikes or just old fashion leg power bikes, of which I already have one myself and she sold her's a while back, to get to work during the warmer seasons in NY. Needless to say we, like everyone else here, have been busting our humps to reach our target. My two questions are:
1. Would the extra money we have left after bills each month continue to go into our high interest savings account, it's currently at 4.75%, or should we be splitting it between that account and a stock account that pays dividends?
2.What's the next step as we get closer to reaching FIRE? I've been following the FAQ to get us to this point but I'm not sure what to now. Do we just keep doing what we are doing or is there something I'm missing or missed in the reading? We are about 6-8 yrs max from reaching FIRE. It will depend on a couple factors at work whether we stay that long or not. Playing it year by year at this point.
That's about it. Thank you to everyone who has taken the time to answer all my questions, good, bad and ugly, past and present. Thank to everyone who's taken the time to write up everything that has allowed my wife and I to get to this point. I am very much looking forward to retiring up in the mountains, fishing, hunting and enjoying absolute peace and quiet completely secluded from society for the rest of my days except to visit family, friends and travel with my wife on occasion because happy wife happy life. LoL
Have a SMASHING good day everyone!!!