Brief stats:
Me: 43
Husband: 43
Tax-deferred accounts: $450,000 (some funds/individual stocks/20% cash)
Taxable accounts:
$13,000 Vanguard (Retirement 2035, Wellington)
$115,000 commodities
Cash: $90,000
House: $380,000 value, owe $120,000 @ 3.75%
Commercial/Apartment building: $750,000, owe $585,000 @ 4.125% (+ additional $35,000 in this llc bank account)
Total net worth ~$1.3 mil
Kid #1 (12 years old) college fund $25,000
Kid #2 (9 years old) college fund $18,000
We recently sold our size business to a bigger entity for $1,000,000 and the clause that both of us go to work for the new company. Our income will go from $155,000/year to $270,000.
Now I'm trying to figure out what to do with the extra cash after paying Uncle Sam (and if anyone has suggestions how to lower my donation to him, I'd appreciate it). Tax accountant appointment set for end of month.
Little leary of the market. We've been burned plenty, plus my hubby is a gambler where I'm more conservative, so this causes some friction. Think he is coming around more to my way since we are getting older and this was a dang lucky opportunity for us. So, if anything, think we'd lean more towards the Vanguard Wellington/ Retirement 2035 funds.
I also like to have cash on hand to help curb my "imminent doom" feelings. Got some financial anxiety issues that I need to work on and always worry about losing it all/not having enough. Would be really happy if I could invest like my 97-year-old grandma, but recognize that that won't work with inflation.
Will pay down the debt a bit, but I'm comfortable with being able to beat the current interest rate percentage with the Vanguard funds if we go that route. Right now, we're running 10% for the year. Not as great as most, but I don't need to hit a homerun. I just need slow and steady and to be able to sleep at night.
Our current monthly expenses run around $5-$6,000. That's high due to some high short-term expenses. Expect it to be closer to $4,000-$5,000 in another 6 months. Also, not really looking at ER, just FI. Husband likes to tinker and is an engineer, and he always wants to keep his mind working. He would, however, like to be more entrepreneurial in the future. Hence, my request for FI.
Any opinions/suggestions would be great.
Thanks,
Mama Bear
Me: 43
Husband: 43
Tax-deferred accounts: $450,000 (some funds/individual stocks/20% cash)
Taxable accounts:
$13,000 Vanguard (Retirement 2035, Wellington)
$115,000 commodities
Cash: $90,000
House: $380,000 value, owe $120,000 @ 3.75%
Commercial/Apartment building: $750,000, owe $585,000 @ 4.125% (+ additional $35,000 in this llc bank account)
Total net worth ~$1.3 mil
Kid #1 (12 years old) college fund $25,000
Kid #2 (9 years old) college fund $18,000
We recently sold our size business to a bigger entity for $1,000,000 and the clause that both of us go to work for the new company. Our income will go from $155,000/year to $270,000.
Now I'm trying to figure out what to do with the extra cash after paying Uncle Sam (and if anyone has suggestions how to lower my donation to him, I'd appreciate it). Tax accountant appointment set for end of month.
Little leary of the market. We've been burned plenty, plus my hubby is a gambler where I'm more conservative, so this causes some friction. Think he is coming around more to my way since we are getting older and this was a dang lucky opportunity for us. So, if anything, think we'd lean more towards the Vanguard Wellington/ Retirement 2035 funds.
I also like to have cash on hand to help curb my "imminent doom" feelings. Got some financial anxiety issues that I need to work on and always worry about losing it all/not having enough. Would be really happy if I could invest like my 97-year-old grandma, but recognize that that won't work with inflation.
Will pay down the debt a bit, but I'm comfortable with being able to beat the current interest rate percentage with the Vanguard funds if we go that route. Right now, we're running 10% for the year. Not as great as most, but I don't need to hit a homerun. I just need slow and steady and to be able to sleep at night.
Our current monthly expenses run around $5-$6,000. That's high due to some high short-term expenses. Expect it to be closer to $4,000-$5,000 in another 6 months. Also, not really looking at ER, just FI. Husband likes to tinker and is an engineer, and he always wants to keep his mind working. He would, however, like to be more entrepreneurial in the future. Hence, my request for FI.
Any opinions/suggestions would be great.
Thanks,
Mama Bear