My partner and I [32/35] have been saving for retirement for a while now but I'm consistently on edge about whether we will have enough. I put our savings into retirement calculators seemingly every few weeks trying to calm my nerves about it, but nothing seems to help. I'm a teacher, so I will get a pension, but we have no idea what that will look like by the time I retire since it seems to always be a point of conflict at each union contract negotiation.
Should we be saving more than we are?
Household Income - $155,000 Mortgage - $85,000 remaining @2.5% - 15 years Car Payments - None Student Loans - None
2 Roth IRAs - $169,000 - Max contributions every year
401K - $27,000 - Contribute $9,500/year
Other Investment Accounts - $36,000 - Contribute $10,000/year
Our other investment accounts have outperformed our 401ks by a couple percent each year over the past 10 years which is why we've allocated more towards those than our 401ks, but maybe that's a bad idea? We aren't the most financially savvy people, we've just been trying to save wherever we can.
Any advice would be greatly appreciated!
original posted by DeathByMollusk to r/personalfinance on Sun, 24 Mar 2024 15:52:38 GMT.