About Me

jIM

I am a 35yo married and father of twins. I will update the photos once in a while. They were born 3 months early in March of 2008 and went through a tough first 4 months. They are now doing well.

Retirement checkpoints
( ) $1.5 M needed age 53 2026
( ) $750k needed age 45 2018
( ) $375k needed age 37 2010
( ) $180k needed age 29 2002

I had 200k before the drop in 2008. I need to set aside around 200k in next 2.5 years to get early retirement.

[ ] max 401k for me
[ ] max 401k for wife
[x] max Roth for me
[x] max Roth for wife
[x] start taxable portfolio
[ ] 3 months expenses in EF
[ ] 9 months expenses in taxable account
[ ] open college savings account for kids
[ ] dividend income equals half of annual expenses
[ ] pay off 2nd mortgage by 2013
[ ] pay off 1st mortgage by 2026
[ ] finance next car for 3 years or less
[ ] pay cash for my next car around 2016
[ ] start a TIPs 10 year bond ladder by 2016.

College savings plan

September 2nd, 2008 at 11:20 am

A few weeks ago there were 2-4 threads about college savings.

My general advice is that it is better to pay off mortgage before kids get to college, then use the old mortgage payment to fund their education.

I also think it is important to finance some of the education cost and have the kids pay that portion off after graduation. Gives them a chance to learn about debt and learn to not like debt in particular.

Posted in retirement, kids | 2 Comments »

2 Responses to “College savings plan”

livingalmostlarge Says:
September 5th, 2008 at 08:35 pm

Depends on situation. How many kids, how much you have.
laurie Says:
October 26th, 2008 at 03:07 am

check into UPromise.com . You can have rebates sent directly to an account that pays your student loans or saves up for college expenses. I only started using it After my daughter started college, wish I had known earlier! Great thing is, I have all my credit and store cards, even shopping cards registered and receive rebates back from just about everything I spend $ on. Right now, they pay 1/4ly, and the amt actually has taken care of 2/3rds of the interest due each quarter.

jIM_Ohio is Investing to retire early

Instead of making retirement a question, make it a sport- can I do it and how fast?

College savings plan

2 Responses to “College savings plan”

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