texastech97

Thanks! Here's another article from ESI Money... http://www.businessinsider.com/the-10-worst-money-mistakes-anyone-can-make-2017-5/#-1

Our retirement savings has been one sided also. My wife has only contributed around $10K during her whole career. We are opposites when it comes to money. She envies her friends that take their family to Disney every year and eat out all the time. I do not. Have you found it difficult to max out the 401k in terms of remaining budget? I envision that it wouldn't be difficult at our current incomes in less than a handful of years here when the student loans finally fall of a cliff. Hi Big Bear, I found it difficult in the very beginning. It didn't help with student loans, going out a lot, a new car loan, and a second new car loan. I was young, and retirement was not a top priority. I did try to meet the company match though. Contributing to the 401K max each year was much easier after being debt free, making more money, and living more fugal. Things didn't change much after getting married and having a family. My wife and I do have separate finances. I'm a saver, and she is a spender. It works well for us. Everybody should put away as much as they can and revisit this post in 10-15 years. I was even down over 6 digits in 2009 during the Great Recession.

Our retirement savings has been one sided also. My wife has only contributed around $10K during her whole career. We are opposites when it comes to money. She envies her friends that take their family to Disney every year and eat out all the time. I do not.

~12 years later and we're now at >12 times our 2005 value. proof that moving slowly can get you far. Thanks and Congrats Hegemony! Very impressive!!!

Well, it has been a year later since my post. I wanted to give an update and see how everyone is doing. I had some life changes in the last year but still contributed the max to my Roth and pre-tax 401K. I'm 33 yrs old now, married, and bought my first house. Despite the recent hit to my retirement accounts from the market adjustment and my saving account from the wedding and house, I'm still putting money away in retirement like crazy. Currently, I'm at $244,600. WOW, I can't believe it has been 10 years. I don't visit this forum much anymore but do still keep track of my retirement accounts. I'm 43 yrs old now, still married, have 2 kids, and the house was paid off. I still max out my 401K every year. The wife doesn't work, but I do contribute to her IRA ever year. We are currently at $804K. I hope everyone is doing better then they were 10 years ago.

I forgot to add I would use the tax return on which ever "debt" has the highest interest rate first. Don't use that money towards the closing cost or points, if the credit or car loan have a higher interest rate.

"Points paid for refinancing generally can only be deducted over the life of the new mortgage." http://www.irs.gov/taxtopics/tc504.html I found this out when I did our taxes last year. We only paid 0.125 in points for our refinance though. I would run your numbers through a break even refinancing calculator with and without the points. If you know you will stay in the house pass those break even points, then it should be worth it. Paying points will push the break even point further out, but it will make a bigger impact on your savings in the long run.

DJIA currently at 11,491.91

It sounds like many lottery winners that have never had that kind of money before and go back to being broke years later.

I just adjusted mine today. We owe a little too much for 2009. hopefully you aren't getting hit with a penalty. the year we underpaid we were given a one time pass. The penalty is under $20.

I just adjusted mine today. We owe a little too much for 2009.

11,500

After the mortgage is paid you still have to pay real estate taxes every year, FOREVER. So, you really never truely own your home/property, IMO. True especially if you have high real estate taxes.

I think their first house was like $53,000. Dear lord, I am moving to Arizona! I've gotten so used to exorbitant home prices i'd forgotten how cheaply the rest of the world can live. The average sale price of a home in my town for the past year was 264,000. I found their current house in AZ, and it's worth $450,000. They bought it in Dec. 1994 for $220,000.

I wonder how much goes into retirement each month.