u/-imhereforthememes_

I would just like to preface that there are ***A LOT*** of estimates here. I’m aware the market fluctuates, life happens and there will be unexpected expenses, and having a kid or two will make me and my wife reevaluate this plan. That being said I still wanted to have a general plan going into these next stages in life.

I’m 29 and my wife is 26 and we haven’t been the best about saving or really planning for our future but since I got out of the military and moved back home, we are buying our first home and really trying to focus on building a strong foundation for our finances and *hopefully* be able to retire early with a nice nest egg to live off of. This is what I’ve drawn up so far, I’m just looking to see if I’m wayyyy off the mark or if we stay focused we can actually achieve something like this? Thanks in advance. Financial Plan

Income: 
Me- $31.26/hr \* 160/mo = $5,001.60 gross / \~4,000 net
Wife - $23.25/hr \* 160/mo = $3,720.00 gross / \~$2,976 net
VA - $4,298/mo
**Total net**: \~$11,275/mo
Fixed Expenses: \~$5,500 (Mortgage, Insurance, Car, Utilities, Debts)
Lifestyle: \~$2,000 (Groceries, Gas, Pets, Household, Fun, Misc)
**Leftover** for Debts and Wealth building: \~$3,775

**Step 1 - Debt Elimination and Start Emergency Fund** (Months 1-15)
Start an emergency fund \~$2,000 in HYSA
Debt Snowball all non vehicle and mortgage debts 
CC 1 - $6463.64 (200/mo)
CC 2 - $11,153.16 (220/mo)
Loan - $28,579.20 (1,000/mo)
Car - \~$30,000 (600/mo)
Reallocate debt payments to wealth building - \~$3,500  + 2,000 debt payments = $5,500

**Step 2 - Build Security** (Months 16-25)
Grow HYSA to \~$25,000 for emergencies (Home and Health)
Max out Roth IRA for wife and I to $15k total
Grow a new HYSA for general savings $15k (vacations, furniture, home upgrades, etc.)

**Step 3 -  Wealth Accumulation** (Months 26-60)
Max out Roth IRA every year at $15k
Place remainder at the end of the month expenses into taxable brokerage

By Year 5, 
Completely debt free (minus house)
Emergency Fund HYSA: $25,000
General Savings HYSA: $15,000
Combined maxed Roth IRA Balance @ 7% return: \~$65,000
Taxable brokerage (\~$3k/mo for 3 years @ 7%): \~$210,000
Total Liquid Wealth: \~ $315,000 (Excluding home equity)

Retire Early by 54, Spouse at 50 (24 years including the above 5 years)
Combined Roth IRA: \~$920,000 Cant touch in 59.5 years old
Taxable Brokerage: \~$3.45M
HYSA: \~$95,000+
Spouse 401k - \~$680,000
Total estimated wealth: \~$5.1M

Retiring at 54 with the above
@4% $3.4M -> $138k/yr
VA $4,298/mo -> \~$51,500/y
Total Retirement Income: \~$200,000/yr

Extra notes:
No property taxes
Health coverage for life my wife and future children

I would just like to preface that there are A LOT of estimates here. I’m aware the market fluctuates, life happens and there will be unexpected expenses, and having a kid or two will make me and my wife reevaluate this plan. That being said I still wanted to have a general plan going into these next stages in life.

I’m 29 and my wife is 26 and we haven’t been the best about saving or really planning for our future but since I got out of the military and moved back home, we are buying our first home and really trying to focus on building a strong foundation for our finances and hopefully be able to retire early with a nice nest egg to live off of. This is what I’ve drawn up so far, I’m just looking to see if I’m wayyyy off the mark or if we stay focused we can actually achieve something like this? Thanks in advance. Financial Plan

Income: 
Me- $31.26/hr * 160/mo = $5,001.60 gross / ~4,000 net
Wife - $23.25/hr * 160/mo = $3,720.00 gross / ~$2,976 net
VA - $4,298/mo
Total net: ~$11,275/mo
Fixed Expenses: ~$5,500 (Mortgage, Insurance, Car, Utilities, Debts)
Lifestyle: ~$2,000 (Groceries, Gas, Pets, Household, Fun, Misc)
Leftover for Debts and Wealth building: ~$3,775

Step 1 - Debt Elimination and Start Emergency Fund (Months 1-15)
Start an emergency fund ~$2,000 in HYSA
Debt Snowball all non vehicle and mortgage debts 
CC 1 - $6463.64 (200/mo)
CC 2 - $11,153.16 (220/mo)
Loan - $28,579.20 (1,000/mo)
Car - ~$30,000 (600/mo)
Reallocate debt payments to wealth building - ~$3,500  + 2,000 debt payments = $5,500

Step 2 - Build Security (Months 16-25)
Grow HYSA to ~$25,000 for emergencies (Home and Health)
Max out Roth IRA for wife and I to $15k total
Grow a new HYSA for general savings $15k (vacations, furniture, home upgrades, etc.)

Step 3 -  Wealth Accumulation (Months 26-60)
Max out Roth IRA every year at $15k
Place remainder at the end of the month expenses into taxable brokerage

By Year 5, 
Completely debt free (minus house)
Emergency Fund HYSA: $25,000
General Savings HYSA: $15,000
Combined maxed Roth IRA Balance @ 7% return: ~$65,000
Taxable brokerage (~$3k/mo for 3 years @ 7%): ~$210,000
Total Liquid Wealth: ~ $315,000 (Excluding home equity)

Retire Early by 54, Spouse at 50 (24 years including the above 5 years)
Combined Roth IRA: ~$920,000 Cant touch in 59.5 years old
Taxable Brokerage: ~$3.45M
HYSA: ~$95,000+
Spouse 401k - ~$680,000
Total estimated wealth: ~$5.1M

Retiring at 54 with the above
@4% $3.4M -> $138k/yr
VA $4,298/mo -> ~$51,500/y
Total Retirement Income: ~$200,000/yr

Extra notes:
No property taxes
Health coverage for life my wife and future children