Hi all!
A few years ago I was run over by a car and it looks like the settlement is finally coming, roughly $60k. Here are some relevant details:
-I'm married. I kind of want kids, but not really.
-$100k household income
-I love my job and would do it for free. My wife hates her job, but endures.
-We don't come close to maxing our 401ks
-My wife gets no employer match so we don't bother. I get an insane match (5% for my employer's 10%) which I match.
-I've calculated and re-calculated, at our current non-maxing 401k contribution rate we can retire at our current lifestyle at 65 for her and 72 for me.
-Student loan and mortgage: $45k @ 4%, $250k @ 3.4%
-$25k in emergency savings earning 3%
-No burning desire to change our lifestyle, we have a comfortable travel and entertainment budget
-tip-top health
-$100k each in term life insurance
Obviously, we are very blessed and happy. I've considered hiring someone to recalculate my retirement estimations just to be sure. But when I step back and look, the weak link in all this is my wife's unpleasant job. This is the reason I've been so reluctant to max our 401ks and go the HSA route, because I really don't want the money locked away.
I feel like I should figure out a way to use this money to improve my wife's quality of life. Am I mistaken? Any thoughts on how $60k could improve her life?
Thanks in advance!
Submitted May 30, 2017 at 09:13PM by HugoSwBoss http://ift.tt/2qxO9Q0
