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Ok here is our budget:
185 combined income (125k +60k)= 8700 a month after health insurance/401k deductions
Emergency $25k
401k balances $240k
IRA $10k -- we are unable to contribute to this account regularly
We just downsized to help us get on track financially.
Husband contributes 18k max and I contribute 12 percent of 60k with a 6 percent match
Mortgage with taxes and insurance $1800.00
Kids private school tuition $20k
1car note $350.00
Cell phones $150.00
Utilities(a/c and water/gas) $300.00
Car insurance $150.00 a month
Gas $300.00 a month
Food $800.00 a month (family of 4)
Gifts/vacation $400 a month
Emergency savings $250.00 a month
We know we will need a new roof and a/c soon which will cost $
My main concern is our age and the amounts we have saved for retirement. I know we are better off than some with regards to our retirement . I have read financial blogs on how we should have $500k-1mil.
185 combined income (125k +60k)= 8700 a month after health insurance/401k deductions
Emergency $25k
401k balances $240k
IRA $10k -- we are unable to contribute to this account regularly
We just downsized to help us get on track financially.
Husband contributes 18k max and I contribute 12 percent of 60k with a 6 percent match
Mortgage with taxes and insurance $1800.00
Kids private school tuition $20k
1car note $350.00
Cell phones $150.00
Utilities(a/c and water/gas) $300.00
Car insurance $150.00 a month
Gas $300.00 a month
Food $800.00 a month (family of 4)
Gifts/vacation $400 a month
Emergency savings $250.00 a month
We know we will need a new roof and a/c soon which will cost $
My main concern is our age and the amounts we have saved for retirement. I know we are better off than some with regards to our retirement . I have read financial blogs on how we should have $500k-1mil.