Need advice on a General Plan of Attack
I would like some input on what may be the best way to manage my assets for retirement around age 50. My relevant facts are as follows:
Kids: (hope to have 1 or 2 shortly)
Income: combined around $150,000 per year
House: $160,000 (paid off)
My wife and I live below our means. However, we may be moving into a new house in the near future. The house may cost more than our present home, but should be at most $200,000. My questions are as follows:
(1) Would you recommend rolling all of the equity of my present house into my new house, or would you recommend rolling some or none of the equity of my present house into my new house and instead putting it into my investments?
(2) Any other advice as far as my situation dictates (I know pretty general question).
Any help would be MUCH appreciated. Thank you!