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Gonna provide a brief financial overview:
\*My Wife and I are both 40, live in Middle Tennessee on a modest budget and make \~$100,000 per year together and have two kids.
\*We bought our house a few years ago for $350,000, but 20% down, and have a 3.5% interest rate on a 30 yr. It is a nice, but also up and coming area that is getting much better as we've lived here and will only improve.
\*We have $86,000 in an IRA, and $100,000 in a brokerage account, as well as other cash which brings our total net worth with retirement and other accounts to $200,000, almost all of which is invested.
\*We have no student loans, car debt, or debt to speak of other than owing \~$250,000 on our house.
With all of that in mind, are we in decent shape to retire in 20-25 years? Using calculator, it looks like if we invest \~$500/month (including my company match) we will retired with \~$2,000,000.... which could easily spit off $80,000+ yearly when we retire and we could live on that, plus social security, plus what little work we would do then.
Would love to hear any feedback.