Should I Reduce 401K Contributions to Save for Real Estate Investment Property?

[Phillip R.]

I'm married, age 29, and make less than six figures. My wife stays home with our two kids. This year and last year we maxed out my 401K ($17,500 annually) and both our ROTH IRAs ($11,000 annually). This has allowed us to substantially increase our retirement savings, but it has severely limited our ability to save for the down payments of future buy and hold investments we'd like to make in the coming years.

With the assumption that we're not able to cut costs elsewhere, would you recommend we trim our retirement contributions, and if so by how much?