... and we passed the $400,000 mark! $407,000 to be more precise!
We received our tax refund and I also received a small work bonus. We also got hit with some expenses we weren't expecting (in hindsight we should have been) for the apartment building that totaled about $1400.
The number doesn't really reflect it, but it's been a rough month. I'm looking forward to April.
4 comments:
Have you suspended 529 contributions? When our kid was born, we saw your post about contributing 3k/yr for 5 years, and decided that would be a good goal for us.
Lately we have been thinking about reducing our contributions by the amount that preschool costs next year. Any thoughts or guidance on this topic?
- sarah and john
We have. We stopped awhile ago, I don't remember exactly when. We decided to focus on becoming debt-free and stopped all investments other than the 401(k) contribution that gets matched.
After that, we have decided (for now) that our priority will be retirement and paying off our house. We hope that if we pay off our house we can cash flow our kids' education.
I should write a post about this.
thanks!
Erin
Also, I don't know if you read our original strategy, but we were planning to contribute the max ($3000/kid/year) until each kid was five. By my math at that time, that would be enough to pay tuition at an in-state school once our kids were college age.
So suspending contributions in lieu of preschool would be in-line with that thinking.
Congrads! You are on the right track. Even if you do nothing else but paying off the mortgages - you will have more than average American.
Decent supplements to the retirement income as well!
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