I have been out of college for 3 years now and started working soon after. Right now my goal is just to build my assets. Below are key stats.
Age: 26
Single
Salary: 55k but 63k beginning 7/1 after promotion
401k: 20k
Roth: 27k
Cash: 11k
HSA: 9k
House: 128k
Mortgage: 124k (3.35% rate, 30 year)
Student Loan: 3.5k (approximate 4% rate)
In addition, my 5yr old car is paid for. Overall, I have been saving roughly 30% (10% 401k, max Roth, HSA, and cash). Credit card gets paid off monthly.
My main concern now is my mortgage. I took advantage of the low interest rates to by a house but am below 20% equity so paying pmi right now. With my raise, I will have $400 per month extra to apply to mortgage. Hoping to get rid of pmi ASAP but do not think its with suspending/reducing 401k, Roth, or HSA. Agree?
Anything else I am missing? Have disability, high limit auto insurance, etc.
Age: 26
Single
Salary: 55k but 63k beginning 7/1 after promotion
401k: 20k
Roth: 27k
Cash: 11k
HSA: 9k
House: 128k
Mortgage: 124k (3.35% rate, 30 year)
Student Loan: 3.5k (approximate 4% rate)
In addition, my 5yr old car is paid for. Overall, I have been saving roughly 30% (10% 401k, max Roth, HSA, and cash). Credit card gets paid off monthly.
My main concern now is my mortgage. I took advantage of the low interest rates to by a house but am below 20% equity so paying pmi right now. With my raise, I will have $400 per month extra to apply to mortgage. Hoping to get rid of pmi ASAP but do not think its with suspending/reducing 401k, Roth, or HSA. Agree?
Anything else I am missing? Have disability, high limit auto insurance, etc.