Meet Andrea & Charlie
- They are each 30 years old
- Charlie is an engineer with a large company in Columbus
- Andrea works at Nationwide Children's Hospital
- Combined gross income $150,000
- $50,000 in savings
- $75,000 in retirement accounts
- Their only debt is a 30-year mortgage
Retire at 65
Pay Off the Mortgage in 10 years
Home Improvements
$5,000 Annual Travel Fund
Contribute the maximum amount allowable each year to Roth IRA’s for each of them.
Take some savings and invest in a after tax account
while making monthly contributions.
Continue to set aside funds on a monthly basis to a separate savings accounts for travel & home improvements.