What should I be doing differently
For context I live in a MCOL area. I make 132k base with 5-18% annual bonus and 0-20% RSU. My wife makes 40k. Currently I max out my 401k with a 50% company match. My wife only puts 6k a year into her 401k with a 4% match. I’m going to try and talk her into maxing her 401k or a Roth and we can live off of my income. Shes hesitant because both of us come from fairly poor backgrounds. I also have a monthly VA disability payment of 4200.
I am 31 and she is 32. I’m hoping to fully retire at 45. Our total retirement accounts are around 140k. I didn’t start a retirement account until 26 so that’s the reason for the lower numbers.
Our current debts are 350k on a house with a 6.1% interest and 45k in vehicle debt. Currently we pay 1800 extra a month towards the house in hope of having it payed off within 12 years. I also have been adding 500 a month into a brokerage account which only has 40k. I can’t help but feel like I am missing something. If you were in my shoes what would you be doing different to ensure a comfortable retirement?
Once the house is payed off or at least under 150k we have reached our FI number in my opinion.
Estimated monthly costs in retirement are 8k monthly.