Where next after maxing 403Bs and IRAs?

[mophead]

My husband and I are in our early forties, and have no plans for children. He makes about 120K per year; I am just finishing a medical fellowship and as of July will be earning about 150K per year. I was lucky to finish medical school with little debt, so we just have a $200,000 mortgage at 6.25% (23 years left to go). We have been maxing out our 403Bs for years, and I've also been contributing to a nondeductible IRA. We generally live below our means, with the bulk of our discretionary spending for travel. We have one short-term goal, to finish our house renovation in the next five years, which will likely cost 50 to 75 K. Other than that, I'd like to have as much as possible available for retirement, given that we won't have kids to support us. We'll likely have about 3-4 K per month to invest. Any ideas?

 

[Ronstar]

Build an emergency fund equal to about 5 years of expenses. And then start hacking away at the mortgage

 

[travelover]

I'd look at building up a taxable account with equities in an index fund or a tax managed fund. With low turnover, they generate little yearly taxable gains and dividends and you don't owe long term capital gains until they are sold. Also look into tax loss harvesting as a strategy to offset any gains in the short term.

I'd encourage you to research this and / or ask questions directly at the Bogleheads forum.