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Originally Posted by 03z06guy
YES...... Thank you TRIPOD, that is exactly what i mean. I too am very happy to be in it as well. Any advice for me?? Basically i am trying to make 2 retirements (PERS and 401k). I am just wondering if you think i am on the right path and any advice on how to use my wifes bonus to benefit us.
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It seems you're in the right path, only debt is your car. You have plenty of options; either to pay off your car faster, or add more towards your wife's IRA, or build up your emergency fund. It seems you and your wife have excellent combined yearly incomes. I don't like to give you advice since I don't know all your financial situations. But I can tell you what we are doing.
I don't if you have kids or not. Of course, that would change things a lot. We have 2 young kids ourselves. Our goal is build our Emergency Fund about $30K in 3 years. We also try to max our retirement contributions a month no matter what. I put $1100 a month towards my 457 plan aside from my required 5% contributions to CalPERS. I also put in $3600 a year towards my ROTH IRA. Of course that vary every year. My wife (RN) puts in about $10K a year on her 403(b) with employer-match (100% on first 6% contribution). Our kids contribution 529 plan $100 a month per child.
I hope this helps.
Good luck
Happy savings