I'd want to know why someone earning $275,000 only has $4,000 in savings.
I think you are majorly underinsured. How does the income break down between each of you? Since your DH is insured for 6 times more than you, I'm guessing he is earning the bulk of the income. You currently have $420,000 in debt so if he were to die tomorrow, you'd only end up with $1,080,000 after repaying everything. I know that sounds like a lot, but would it be enough for you to maintain your current lifestyle, and if so, for how long?
To answer your question, you have essentially nothing in savings. One major home repair (heater, AC, roof, etc.) would wipe out 4K in a flash. You need to get that up significantly. You are only contributing 6% to retirement. That isn't enough. Get it up to at least 10% and preferably 15%.
What would I do from there? To answer that, I'd want to see the other side of the spreadsheet. List your expenses for us. Show us where all of the money is currently being spent and why so little is going to savings.
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Steve
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