35 y/o, married, father of 1, planning on trying for #2 soon.
$100k/year salary with pension (5% guaranteed raises each of the next 4 years - state employee)
Only debt I have is my mortgage, currently living in a ~$450k home, owe $150 on it.
$100k total in 401k & Roth IRA
$275k in mutual funds, $20k checking, $55k savings (~350k liquid cash)
My wife and I are considering moving towards the end of the year and I am trying to determine how much house is too much house. Id like to keep my monthly mortgage payment low so Id be putting down a large % on a new house. If I can manage to sell my current house, pay off the remaining mortage and walk away with $250k, would I be stupid to buy a ~$700k house with 250k (sold house $) and 250k of my stock market money? Leaving myself about 125k in stocks/checking, 100k in 401k.
TL;DR: fairly well off financially, how stupid would it be to put most of my eggs in one basket (a new big house) rather than keeping it in the stock market.
Submitted May 01, 2017 at 01:17AM by -_engineer_- http://ift.tt/2plQUSk
