How am I looking as a 29(m)
Current financial situation is as followed.
145k in a 457
43k in 401k
18k in HSA
As of this year I will be maxing out 457.
Primary residence: current market value is 1.2 million and we owe 635k @ 5.8% currently putting an extra 400 a month to the payment
Rental property is valued at 375k and I currently owe 160k @ 2.65%
I have a pension plan which is a 20 year program. Currently about 7 years in. It will provide approximately 67k a year in today’s money when I am 42 granted I do not have any large promotions. My wife is in the exact same boat so we should be approximately 134k a year between the two of us.
I have slaved away up to this point by working 60 to 70+ hours a week. Currently I have two very young kids and starting to scale back on work hours. Trying to set myself up to where I can walk away in mid 40s and do some traveling.
My plan has been to live off the pensions when we retire and let the 457 and 401k grow. Our current house is great and it’s been a huge project with a lot of sweat equity. We plan to sell it once the kids are out as the upkeep and size is unneeded and possibly go somewhere with a lower cost of living. We hope that it performs well and we make some cash there. The biggest concern for us as we talk is medical. How are you guys who have retired early going about medical? Is there anything that we should preemptively start to prepare for now to help us with medical?