madcityacct
Dryer sheet wannabe
Hi everybody. Thanks for providing the forum. First post - so here goes:
I'm about to receive an 11K raise. Given the following scenario - what would you do with the $$?
33, Married, wife 27, one 2 year old child. Current combined NET income 72K.
ASSETS
DEBTS
Thanks for any advice. Let me know if you have any additional questions!
I'm about to receive an 11K raise. Given the following scenario - what would you do with the $$?
33, Married, wife 27, one 2 year old child. Current combined NET income 72K.
ASSETS
- 50K in cash savings (add ~9K per year)
- 50K in 403B (all contributions provided by employer, 5,300/yr)
- 2K in DW's 401(k) (100% match to 3%, 50% for the next 2, funded to match)
- 27K in my ROTH (FFNOX, contribute 5K/yr)
- 4K in DW's ROTH (YACKX, contribute 5k/yr)
- 23K in taxable IRA (FBALX, no contributions)
- 4K in Deferred Comp plan (emerging markets, contribute 1K/yr)
- 4K in taxable Vanguard acct (VWINX)
- 4K in sons 529 plan (contribute 1,500/yr, others have gifted money)
DEBTS
- 162K on 3% interest mortgage(family loan). Already prepaying $550/month. About 10 years left at this rate.
Thanks for any advice. Let me know if you have any additional questions!