So with some income increases, I'm now have $1000/month not in my budget. I have no debt other than my mortgage ($230k @ 2.8%). I have fully funded my IRA. I put 16% of my salary into my 401k (company matches 6%). I have $20k in CDs (avg 3.3%, laddered, so $5k is available every 6 months) and $5k in a savings account as my emergency fund.
So, I see three possible things to do with the money:
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Pay off my mortgage faster. I know the interest rate is low, but paying it off sooner would give me peace of mind. Everytime I open my account and see >$200k debt I panic a little inside, even though I've had no trouble paying it off so far.
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I just opened a brokerage account and put $5k in it. I could keep putting money in it.
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Put more money into my 401k. If I put the $1000 there, then I would be able to fully fund it and have some left over that would need to go to choice 1 or 2.
Are there any options I'm missing? Like, should I save up money to buy more real estate? Which option should I choose?
Submitted March 09, 2019 at 07:02AM by PM_ME__About_YourDay https://ift.tt/2EKL2Z7
