42 years old. Married with 3 kids and planning to retire at 55.
I have been maximizing my 401k and contributing to a Roth 401k. Our household income will be $200k this year so we will no longer be Roth eligible. In January I will receive a vested stock bonus of $30k and some large stock options that I can exercise anytime in the next 7 years. What should we do with this extra cash to help us retire early. Some options I have considered:
I have been maximizing my 401k and contributing to a Roth 401k. Our household income will be $200k this year so we will no longer be Roth eligible. In January I will receive a vested stock bonus of $30k and some large stock options that I can exercise anytime in the next 7 years. What should we do with this extra cash to help us retire early. Some options I have considered:
- Keep as cash in a money market account and buy a mutual fund on the next dip
- Dollar cost invest it into a mutual fund
- Keep for a extra emergency fund (already have 6 months saved)
- Use it for some living expenses and have my spouse set up a SEP
- Pay down debt - have a car loan at 2% and mortgage is 2.5%
- Other