Progress report, 10+8 year work experience

10/8 year progress report

32M and 30F married, Since inception report – 10/8 years of experience approx.

how are we doing? Would like to retire in 50-55 range with wife if not earlier to travel and do hobbies.

Ever since I started working I wanted to retire quickly, but it doesn’t seem very quick given our situation. I now make $155k including my bonus and my wife makes $72k. After buying a home, I no longer max my 401k contributions and just max Roth IRA contributions, and my wife contributes 8% of her paycheck into a state teacher pension as well as maxes her Roth IRA. It’s on our radar to have her contribute to her 403b as well to lower our tax liability a bit more.

This is my salary progression. Thanks for taking a look as well.

2015- $58k
2016 – $64k
2017 – $75k
2018 – $84k
2019 – $97k
2020 – $114k
2021 – $118k
2022 – $123k
2023 – $128k
2024 – $134k
2025 – $154k

Here is what we have ~$716k net worth excluding essential vehicles (x2) and travel points, or $850k if you include equity on house.

Retirement – $627k
$539k in tax advantaged accounts, maybe $220k of that is after tax/Roth.
$60k cash balance pension
Wife has about $28k in cash contributions to her pension (3 years left to vest)

Liquid – $65k
$60k in emergency fund
$3k house maintenance fund

Less liquid/restricted – $51k
$25k repurchase quote precious metals ($30k FMV)
$5k pickup truck C car

$20k HSA
$1k FSA

…
$16k travel rewards too misc.

Debt – $27k student loans $27k @ 1-4%

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We want to have kids within 1-2 years, and hopefully by the time they are born we’d like to have $20k set aside to smooth childcare costs at first.

I’ll caveat and say I just got lucky with a few trades in our retirement accounts so that’s why we have so much in there.

We go on 2 shorter trips or 1 long trip a year and spend $10k/year on average for travel
Technically we have $134k in house equity but not really counting that.