Looking for some opinions. I am currently vested in a stable state of Florida job building a special risk pension. I am 9 years into my 25 and even if a get no raises over the next 16 years would retire with an annual pension of approximately $75k per year.
My wife (also a state of Florida normal risk pensioner) and I live modestly, our house will be payed for in 7 years (1350/mo)and we don’t have any car payments but we do have our first child arriving this year.
My question is, how much should I be putting into my deferred compensation. Since there is no match for this I’m trying to figure out a good balance between giving till it hurts and enjoying life. Any thoughts and reasons would be appreciated.