My wife and I recently sold some land we owned free and clear.. It sold for $85k. We net $80k after realtor fees. We bought it for $57k. I think the taxes will be long term capital gains because we bought it 10 years ago. Not sure exactly, but I'm going to assume we have around $75k after taxes.
STATS:
42 yo with combined income of roughly $150k.
Debt free except for the house.
$116K mortgage at 3% with 8 more years left on the term.
two kids, 11/5 both with well funded 529 plans.
400K in retirement accounts
70K in investments (stocks and some peer lending for real estate loans)
$25K in savings
Would you put the money in retirement, investments, mortgage, savings.....other?
Submitted May 08, 2019 at 02:09PM by PeteTheIslander http://bit.ly/305daQp
