What does your retirement / finances look like compared to mine?

I've worked really hard on straightening out my finances over the last two years. I just wanted to see how my approach compares to others. The personal finance sites make it seem like everyone is maxing everything out:

My wife and I contribute about 28,000 into our 401K's each year and we max out our IRA's (8,000) each year.

We might have trouble on the IRA in 2007 because of income limits. It that happens, I'm planning on just opening a mutual fund account on the side.

So far, we have @ 45K. We're both 27.

Besides that, we have a mortgage and car payments. Everything else is paid and I plan on starting a separate mutual fund for the kids college (I don't like all the rules associated with the college savings plans).

The only reason that I say that I am better off than you is because I'M ALREADY RETIRED. Just kidding, you are doing it extremely right. Now that I say that, let me give you some thoughts:
1) Buy, read and study the books by James P O'Shaughnessy, What Works on Wall Street, John J Bowen, Creating Equity and Benjamin Grapham, The Intelligent Investor.
2) Buy, read and study Jane Byrant Quinn's book Making the Most of Your Money. It is a little dated but the information in it is like great foundational information to start your understanding on personal finance.
3) Find a "Financial Peace University" class in your community. You are following this program to a great extent, but this will confirm and add to your knowledge. www.daveramsey.com to find a location.

Then follow what you learn and at age 45 you can come join me in retirement. Oh by the way, retirement is really being more like a tire, it is being retreaded because now you can do exactly what you were born to do. Whether that be volunteer work, owning and managing assets, travel, enjoying life, enjoying family, going on a mission trip, or all of the above.

Sounds like you're doing great to me... However, you should try to pay off the house, and then save for retirement... Here's why: Say you put 10K in a mutual fund, and it's earning 8% (just for instance)... What's the interest rate on the mortgage? Subtract that from the interest you're getting for the 401K, IRA, etc. Then it doesn't look like they are as worthwhile, unfortunately. True, the interest on your home loan is partially or even wholly tax-deductible, but still, over the year you pay before it lowers your tax burden, the money isn't earning interest FOR YOU... One possible way to pay off your home very rapidly is to use a portion (a good chunk) or almost all of savings to reduce the payment each month. If you can make double payments, the home will be paid off in like 8-10 years instead of 40... You'll own it by 37 and then you can start putting BIG money into whatever stable (maybe tax-sheltered) forms you like. You should Hate Interest, any interest... That's one big key to becoming very wealthy. But even with how you're doing it, you're doing quite well, congrats.

Don't compare yourself to anyone else. You'll always find a reason to feel lousy if you do. There's always someone doing better than you are. Take care of yourself and worry only about what's right for you. You're doing fine. BTW you DON'T need millions to retire comfortably. It's good you have an IRA. Great tool. But I would recommend you put most of your investment dollars into regular funds. That way you can do whatever you want with the money. Including funding your retirement. And a great way to keep expenses low is to NOT have a car payment. Cars last forever these days. You can pay cash for a good used car and maintain it. I say finish paying off your current cars and run them into the ground. Then never finance again! But you guys are doing great! A lot better than most. Keep learning and keep doing what's right.

Better than yours, but I am not 27 - so who really cares?

Your question should be "Am I on track for the financial future based on where I am now?"

It doesn't really matter where you are now. You do not seem to have an obtainable goal. Have you figured out what kind of retirement you plan to have? Do you know how much money you will need after you adjust for inflation? Do you know how much money you will need to save for your kids college fund?

You need to think about these other questions first. There is a 40-year investment calculator at the URL below. You can enter your age, current investment level, ROI, and an inflation rate and it will tell you what kind of spending power you can expect given the details you enter into it.

Good luck.