Howdy all, I just found these boards and haven't spent a lot of time looking around yet. So I appologise in advance if this is a redundant question.
In 2007 my wife and I are looking at an increase in our annual income of about 45k. I got a big fat raise at my current job (promotion) and she got a big fat raise by switching jobs.
I was already maxed on my 401k, I actually had to cut back on the percentage. My wife will max her's out and still 'take home' more than she was before. Both our IRA's have been fully funded in the budget for some time.
We have three investment properties, one of which we plan to sell in the next year or so. That should wipe-out all of our debt (including our primary mortgage). We do plan to remodel our primary residence, which may bring on some more debt, but we should be able to pay it off quickly. Our house is a '70's brick rancher, with at set of '70's bathrooms and kitchen
Thus, once the dust settles, we're looking at a couple thousand dollars a month with nothing to do. We are already highly invested in stocks both in and out of tax advantaged accounts. I don't really want anymore exposure to realestate. Thus, I'm thinking municipal bonds for their tax advantages and because we're about ten years for where we want to be in terms of our $$ goal, so I need to start getting more conservative.
Suggestions would be greatly appreciated. Perhaps a book?
Thanks,
-Warthog
In 2007 my wife and I are looking at an increase in our annual income of about 45k. I got a big fat raise at my current job (promotion) and she got a big fat raise by switching jobs.
I was already maxed on my 401k, I actually had to cut back on the percentage. My wife will max her's out and still 'take home' more than she was before. Both our IRA's have been fully funded in the budget for some time.
We have three investment properties, one of which we plan to sell in the next year or so. That should wipe-out all of our debt (including our primary mortgage). We do plan to remodel our primary residence, which may bring on some more debt, but we should be able to pay it off quickly. Our house is a '70's brick rancher, with at set of '70's bathrooms and kitchen
Thus, once the dust settles, we're looking at a couple thousand dollars a month with nothing to do. We are already highly invested in stocks both in and out of tax advantaged accounts. I don't really want anymore exposure to realestate. Thus, I'm thinking municipal bonds for their tax advantages and because we're about ten years for where we want to be in terms of our $$ goal, so I need to start getting more conservative.
Suggestions would be greatly appreciated. Perhaps a book?
Thanks,
-Warthog