RicterScale88
Confused about dryer sheets
- Joined
- Oct 5, 2017
- Messages
- 4
Hi,
I recently found this page by way of Root of Good and I am glad to be here. It's inspiring to be in the midst of like minded individuals who are accomplishing their financial goals.
For myself, I am soon to be 29 father of 4 married for approximately 8.5 years. I’d guess I’ll earn about 90K this year from my job while my wife stays home with the kids. We have everything paid for except the mortgage but have quite a bit remaining on that since we're in the process of moving to a safer neighborhood. My work 401(k) is around 103k in a growth style mutual fund, I have a moderately conservative Roth IRA through Vanguard at about 11k and we have almost 20k in savings for emergencies.
I've been following a lot of Dave Ramsey's teachings and it's seemed to help so far. Paying off the house has been a goal for the past 4 years but it's been slower than I’d like, my initial " plan" has been to throw all extra income at the house payment but now I'm second guessing that. I have a 4% fixed rate of 30 yrs. I’d really like to start getting aggressive with my savings so would it be better to switch gears to investment growth and let compound interest do its thing rather than pay extra on the house? I feel torn because I'd like to save on paying interest on the house. Also, I had just started college in 07-08 and remember hearing stories about money people lost in the correction so that’s in the back of my mind. I would appreciate any input I can get, let me know if you need more information about my case. Thanks gang.
I recently found this page by way of Root of Good and I am glad to be here. It's inspiring to be in the midst of like minded individuals who are accomplishing their financial goals.
For myself, I am soon to be 29 father of 4 married for approximately 8.5 years. I’d guess I’ll earn about 90K this year from my job while my wife stays home with the kids. We have everything paid for except the mortgage but have quite a bit remaining on that since we're in the process of moving to a safer neighborhood. My work 401(k) is around 103k in a growth style mutual fund, I have a moderately conservative Roth IRA through Vanguard at about 11k and we have almost 20k in savings for emergencies.
I've been following a lot of Dave Ramsey's teachings and it's seemed to help so far. Paying off the house has been a goal for the past 4 years but it's been slower than I’d like, my initial " plan" has been to throw all extra income at the house payment but now I'm second guessing that. I have a 4% fixed rate of 30 yrs. I’d really like to start getting aggressive with my savings so would it be better to switch gears to investment growth and let compound interest do its thing rather than pay extra on the house? I feel torn because I'd like to save on paying interest on the house. Also, I had just started college in 07-08 and remember hearing stories about money people lost in the correction so that’s in the back of my mind. I would appreciate any input I can get, let me know if you need more information about my case. Thanks gang.