Hi @frugalcouple! Thanks for joining the community.
First, I want to say that you’re already investing by contributing to those retirement accounts — so don’t be intimidated by the idea. You’re an investor, and you should own that. You’ve done a great job so far, and you’re clearly very capable.
When I hear a situation like yours, my first thought is an IRA — that’s a great place to put extra money outside of your employer retirement plan, and it will help you save more for that early retirement you’re after. You can choose between a Roth and a traditional IRA, though often a Roth is a good choice for early retirees because you can pull out the contributions you make to the account at any time.
We have a complete guide to IRAs here, with everything you need to know — including how to open the account, how to choose between a Roth and a traditional, and how to invest it.
It sounds like with the extra money you have, you’ll max out the IRA’s contribution limit fairly quickly — you can each contribute $6,000 in 2019. Beyond that, you could also contribute more to your employer plan – a 401(k) has a higher contribution limit of $19,000. And above that, there’s always a regular taxable investment account, which is good for early retirement because there are no restrictions on when or how you pull your money and earnings back out.
You might also find this article about how to retire early helpful:
Let us know what other questions you have.