anothercog
Recycles dryer sheets
Due to COVID, I haven't been travelling or spending much and also thanks to an end of year bonus, I now have an extra $80k sitting in my bank account. This is on top of my emergency fund.
I don't like having this much cash sitting around doing nothing. I'm currently 50 years old and 5-7 years until I'm FIRE'd.
So I figure I can either throw it at my mortgage (current balance of $485k @2.5% interest) or invest with a time period of 5+ years.
I would like to have my house paid off by the time I retire but feel like I should be able to get better than a 2.5% return over the next five years.
I was thinking of putting $60k into the Vanguard Total Market index then holding back $20k to invest in stocks that may catch my fancy or put into Vanguard if the market drops. This would be in a taxable account as I have maxed out my 401k and HSA.
I think I have moderately high risk tolerance. I am good at buying but horrible at selling so I tend to keep dogs way too long.
Any suggestions?
I don't like having this much cash sitting around doing nothing. I'm currently 50 years old and 5-7 years until I'm FIRE'd.
So I figure I can either throw it at my mortgage (current balance of $485k @2.5% interest) or invest with a time period of 5+ years.
I would like to have my house paid off by the time I retire but feel like I should be able to get better than a 2.5% return over the next five years.
I was thinking of putting $60k into the Vanguard Total Market index then holding back $20k to invest in stocks that may catch my fancy or put into Vanguard if the market drops. This would be in a taxable account as I have maxed out my 401k and HSA.
I think I have moderately high risk tolerance. I am good at buying but horrible at selling so I tend to keep dogs way too long.
Any suggestions?
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