- Married, 28M, 27F
- Incomes
- 28M: ~$90k
- 27F: $0, on a voluntary break. Typical earnings from $70-150k, anticipated ~$85k
- Money owed
- Automobile: $24k @ 7.9%
- Pupil loans: $20k @ 4.5%
- All bills placed on CC, no balances carried
- Retirement
- Roth 401k: $16K
- Contributing 10%+6% Match (Just lately lowered from 15%+6% to assist cashflow)
- Anticipated ~$15K this yr
- Inactive pension account: $15k
- Roth IRA 1: $20K
- Not contributed for 2024 but
- Roth IRA 2: $18K
- HSA: $7K
- Taxable brokerage: ~$1K
- Roth 401k: $16K
- Emergency Fund
- HYSA: $50K @ 4.2%
- ~1 yr of bills
- Bills
- Housing (Hire, utilities, and so forth): $1900
- Cellphone: $140
- Gasoline: $300
- Automobile: $600
- Insurances: $210
- Meals: $500
- Subscriptions: $84
- Health club: $90 (costly, however it’s a specialty fitness center)
- Household assist: $200
Some questions/issues I’ve:
- All of our retirement financial savings are going into Roth accounts, now we have successfully nothing in pre-tax, may this be a problem? We’re early into our careers, so I am anticipating greater earnings later in life, throughout which I hope to contribute to a pre-tax bucket
- If/after I depart my present firm, would I be capable to seamlessly roll my Roth 401K into my Roth IRA?
- We’re at the moment coping with a slight cashflow problem, my take-home pay is ~$3900, when our month-to-month bills are round $4100. This is the paycheck breakdown:
- Biweekly gross: $3400
- Taxes: $(612) (18%)
- Insurances: $(85) (3%)
- Retirement: $745 (19%)
- Take dwelling: $1960
- Over the course of a yr, we would take dwelling a little bit extra (biweekly vs. bimonthly) however to be conservative I am calculating as if I solely get 2 checks per thirty days. Presently our plan is to cashflow the deficit by dipping into our HYSA (~$200/month) till we’re again to having two incomes. I might want to not have to cut back our retirement contributions any extra, however is that this the fitting transfer?
- Biweekly gross: $3400
- Are we being “too aggressive” with our financial savings charge? With our present contributions + assuming we max each IRAs, we’re on observe to avoid wasting round $33K/yr. In our present scenario (single earnings), it is gotten to the purpose the place we have to think about chopping again on luxuries (subscriptions, costly fitness center, and serving to household). We’re hesitant to take the foot off the gasoline.