Hello all,
Just trying to see what your advice would be in my situation. Currently 30 and married (to 26). We currently net about 125k combined annually and expect that to go up to 140-150k by the end of 2022.
Currently our debts are:
Short term debt
- 2.5k credit card 0%
Long term debt
- My student loans 33k @ 5-6.8%
- My vehicle 27.5k @ 3.74%
- Spouse student loan 6.5k @ 4.5%
- Spouse vehicle 33k @ 2.2%
- Mortgage 116k @ 3.875% (thinking about moving shortly so don't want to refinance)
Investments / Liquidity
- 75k combined in 401k
- 20k in assets with decent liquidity
- 3.5k in cash
So here's my question - with the extra cash every month should I be focusing that towards either paying down student loans with it being my highest interest rate, vehicle loans (since student loans are a bit more forgiving if trouble happens), starting a ROTH/putting more in 401k, or building my cash fund? My current thoughts are paying down student loans first, then focusing on my vehicle. After that heavily going into cash and ROTH/401K 50/50.
Thoughts?
Edit: My current 401k rate is 17% after employer match.
Submitted September 03, 2021 at 09:49AM by throwaway_advicepf https://ift.tt/3h06a1t
