I floundered around for much of my twenties and didn't land a good paying job until I was 27. Didn't start investing or saving until that point.
Right now I am 32 years old. I make $80,000 a year and have no debts besides a $1300/month mortgage that my wife and I split.
I have gotten several raises in the last few years and have upped my 401k to $1,200 a month and I get a 4% match. That is currently standing at just shy of $40,000. I put $500 a month into my Roth IRA and that is currently standing at $24,000. I put $100 a month in my HSA which is currently standing at $1,600.
I have $17,500 in an HYSA. I want to round it off at $20,000 for emergency expenses and then stop contributing to it. Not sure where to put the additional $500 a month after that.
Right now I have $84,000 in cash and investments, plus about $80,000 worth of equity in my house. We are putting an extra $200 a month towards our mortgage So we are paying $1,500 a month total and we will pay off the house when I am in my mid-50s if we maintain present course.
I want to "retire" at age 58. What I mean by that is I want to quit The stressful good paying jobs and find a less stressful lower paying job like cleaning up city parks or something along those lines that will cover my expenses until I retire and am able to draw social security.
Is my goal feasible? Should I be doing something differently?
original posted by dropofred to r/personalfinance on Sat, 02 Mar 2024 15:30:38 GMT.