Seeking Feedback: How Am I Doing Financially at 40?

[anonymous316]

Hey everyone,

I've been diligently working on my financial goals and would love some feedback on retirement planning from the community. For context, I plan to retire in ~3 yrs at 20yrs Army officer (Hi3 Pension would start when I retire ~43 y/o at $65k annually w inflation adjustments), wife is a stay at home mom, 4 kids w oldest hitting college age in ~5 yrs. Standard plan for wife and I to fully retire ~65 with 4% draw.

Here's a breakdown of where my wife and I stand financially:

Roth IRA - Vanguard 3 fund mix (Mine): $164k

Roth IRA - Vanguard 3 fund mix (Wife's): $113k

Mutual Fund: $52k

529 Savings Plan (total across 4x VG accounts): $70k

Thrift Savings Plan 401k (TSP): $25k

Emergency Fund: $22k

I'm particularly curious to know if these amounts are generally on track for our age and if there are any areas where we could improve or optimize our financial strategy. Any advice, suggestions, or constructive criticism would be greatly appreciated.

Looking forward to hearing your insights! Thanks in advance.

 

[jfhodge852]

@anonymous316 It's difficult to say with all these numbers in a vacuum. What is your current salary? What are your total household expenses monthly? What does it mean you'll fukky retire at 65 when you said you're retiring at 43 and your wife isn't employed? You plan on withdrawawing 4% starting at 65 coupled with SS and your pension?