RyanM
Confused about dryer sheets
I have been lurking for a while and really value the advice and opinions on this forum, so I will introduce myself.
I am currently 26 years young, making W2 income of 70k per year, roughly 10K from consulting services, and 20k in rental income from 3 bedrooms that I rent out in my primary residence.
I am getting married this fall and do not plan on having children in the future. As for my current retirement savings it is divided up as such: 15K company 401k plan, 14K high yield savings account, 7K in the checking, $400 in assorted other accounts, 31K in IRA, 26K in Roth IRA, 10K in a brokerage account. My investment holdings are almost entirely equities with the break down roughly: 30% emerging markets, 20% commodities, 25% large cap, 25% small cap.
I have no credit card debt, no student loans, and own my little Acura free and clear.
The ideas I am toying around for money usage are:
- Quickly put 20K into my house to stop mandatory PMI payments(House is worth 225K, have current debt of 207K but interest rate is 3.75%)
- Strongly considering buying rental real estate (3BR 1BA row can be acquired and gotten rent ready for 80K and rented for between 900-1100). If I do this should I wait and buy cash. I am member of a local real estate investment group where I have made many contacts(am also currently a licensed realtor)
- I am currently only putting 10% of my salary in my 401K-- so 7K per year. I feel like I have so much already tied up in retirement accounts that can't be tapped, until later in retirement. Opinions?
Looking forward thoughts and opinions, thanks in advance!
I am currently 26 years young, making W2 income of 70k per year, roughly 10K from consulting services, and 20k in rental income from 3 bedrooms that I rent out in my primary residence.
I am getting married this fall and do not plan on having children in the future. As for my current retirement savings it is divided up as such: 15K company 401k plan, 14K high yield savings account, 7K in the checking, $400 in assorted other accounts, 31K in IRA, 26K in Roth IRA, 10K in a brokerage account. My investment holdings are almost entirely equities with the break down roughly: 30% emerging markets, 20% commodities, 25% large cap, 25% small cap.
I have no credit card debt, no student loans, and own my little Acura free and clear.
The ideas I am toying around for money usage are:
- Quickly put 20K into my house to stop mandatory PMI payments(House is worth 225K, have current debt of 207K but interest rate is 3.75%)
- Strongly considering buying rental real estate (3BR 1BA row can be acquired and gotten rent ready for 80K and rented for between 900-1100). If I do this should I wait and buy cash. I am member of a local real estate investment group where I have made many contacts(am also currently a licensed realtor)
- I am currently only putting 10% of my salary in my 401K-- so 7K per year. I feel like I have so much already tied up in retirement accounts that can't be tapped, until later in retirement. Opinions?
Looking forward thoughts and opinions, thanks in advance!
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