Hello community,
I’m searching for some good advice from some experienced individuals who can maybe point me in the right direction or share some wisdom of what they would possibly do in my situation.
I’m 30 years old and recently graduated from a nursing program and I’m starting my new job in a month making $45 an hour. Also working a part time job pulling in another $1,900 a month. My monthly expenses are around $3,700 - $4,000 a month. No debt. My wife drives a 23 Corolla and I drive a 24 Corolla that are both paid off.
Right now I have a total of 75k in retirement accounts and I contribute 15% to my companies Roth 401k and receiving a 6% company match. We currently have about 5k in savings that we keep in our HYSA Ally account. We have a goal of getting it to 15k for 6-8 months of an emergency fund and then we want to keep about 2-3k in my checking account and her checking account.
We are also trying to now save for some land that we can get 2-5 acres of land for under 80k somewhere in the mountains while building a small 1,200 sqft home 4-6 years from now.
If my wife continues to work we can save around $2,200-3,000 a month after I contribute to my companies 401k and then I max out my Roth IRA and HSA. If she chooses not to work during her program if she gets accepted at the end of this month, we would save around $700 - $1,000 a month after contributing to those retirement accounts.
I have a goal of wanting to retire between the ages of 53-56 with 1.5-2.5 mill.
I want to build my forever home and have it paid off before the age of 45 as well.
Does anyone have any advice of what we should be doing different? Are we behind? I’m sure galling to figure out if I should stop contributing to my Roth IRA and HSA to save up that emergency fund but I’m also trying to save for a down payment on land as well and I’m not sure what to really do because I also want to make sure I have money for any emergencies that come up in the future.
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