Ann’s main concerns, in her own words: “Greetings from your episode #9 guest! We’ve run into a unique “problem”…. Our household income has more than doubled but with minimal lifestyle inflation, leading to a surplus of $104,000 a year. ($260,000 gross household income – $90,000 in taxes/healthcare – $66,000 in mortgage/daycare/food/vacation = $104,000 surplus.) What are you supposed to do with $104,000 each year??? We’ve maxed the husband’s TSP contributions and both IRAs. We contribute towards a 529 plan for our toddler. I recently opened a SEP IRA to give me more room to invest. Do we go hardcore on retirement savings? Pay off the mortgage super early? Both? Neither? Unfortunately we just recently started seriously investing and only have $140,000 saved for retirement so far (we’re 32 and 33), plus $80,000 in boring old savings. Don’t want to buy a bigger house or a bunch of crap. Love the job now but probably won’t love it forever. I want to make the right moves now to guarantee rockstar stability and freedom later. Please help us take our financial skills to the next level!”
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Nicole is the Digital Marketing Assistant at Pete the Planner®. She produces the radio show, podcast, and TV show. Additionally, she runs all email campaigns, webinars, and client programming. Nicole can be found drinking a Kombucha wherever there is an outdoor music festival.