I'm 31 and married. No kids yet but we have been discussing having a child in the next two years. We will plan on only having one unless its twins (runs in dw family) Our house is big enough to have a child or two.
Here is my current financial rundown
- 194,000 left on mortgage at 3.875% (paying extra $215 in principal each month)
- Individual Stock - $26k (mostly in VTI - Vanguard Index Fund add about 1500 per month)
- Roth IRA - $20k (no longer qualify to contribute)
- Rollover IRA - $85k (mostly in target date funds)
- Roth 401k - $44k (mostly in Vanguard target date funds, max out each yr)
- I-Bonds - $6k
- Savings - $31k (savings interest rate basically 0%)
- Total - $212k
Joining this forum to help make sure I am on the right track and for any advice as I move forward. Also, want to hold myself accountable as I move forward.
I will be coming into 50k due to the passing of a loved one and am trying to figure out the best thing to do with the $.
My thoughts were to spread it out around some of my active accounts.
10k - into mortgage
10k - into savings
10k - into home improvements (paint and a couple other things dw would like)
20k - into stock most likely an index fund
Is there anything I am overlooking or should be considering to do with my $.