I'm (40) and wife (38) and both work. In the last few years we've debated buying a home, which we didn't, and hired & fired a financial planner. This year we need to buy a home for our growing family, we currently rent. I thought home prices were high a few years ago and now they're insane in California. I kick myself for not buying when I wrote my first post. I'm looking for advice on where to invest our cash after we purchase a home. Currently, we have $622k cash, $590k in combined 401ks/IRAs, $38k in cash balance pension. Wife also has a pension that is to convert to cash balance next year so I don't have solid numbers on that. We're planning on using $200k to buy a home somewhere in the $650k range. In California that may be a condo. I've been reading up on Target, LifeStrategy funds, Lazy Portfolios and would like any input as to where to put the remaining $422k cash. We have combined gross incomes of $260k, max out 401ks and the rest goes to cash. When we buy our home most of our income will go to pay it off so I doubt we will be maxing out our 401ks and contributing to IRAs etc. I still want to reach FI but I think this home purchase is going to derail things.
Submitted February 20, 2017 at 11:48PM by greenplanetled http://ift.tt/2kGulqz
