I'm 31 years old, married and father of two.
I currently max out my 401k every year with a 50% company match, my wife maxes out her 403b with no match as she is a teacher but she does have a pension. We both maxed out our Roth for the last 7 years until this past year when we didn't qualify income wise. I still plan to put 11k a year away to mimic the Roth. Not sure if either one of us want to retire early as we both enjoy our jobs but we are planning as if we will as early as possible, 59 1/2 would be the latest.
I have 20k each in a 529 account where I invest $500 a month to each. My goal is for each kid to have 200k for college when they are 18. I also max my HSA so any medical bills are take out of that. I have a 40k emergency fund as well. We are probably over savers but we have most of the things we need in life (we really don't need much). Before anyone starts slamming me, I donate and run marathons for the leukemia and lymphoma society every year as it is very important to me and my wife.
I currently have no brokerage accounts as I have focused on tax advantage accounts and currently own a home that we comfortably make the payments on our 15 year mortgage in California. (Bay Area)
My question is, we just got a windfall of about 100k, I would like to invest it in some sort of brokerage account to save up for a second home that will provide a little more room for our kids as they get older. I would prefer to use first home as rental income but would be open to selling it to cash out the equity if need be as homes are rather pricy here.
With two young children and a hectic work schedule I don't have any spare time to focus on investments, I've considered Robo-investing or just paying a broker to manage my 100k. Does anyone have any insight or suggestions on what I should do?
Sorry for the long winded setup but I feel most, if not all of these details are relevant to the situation.
Thanks!
Submitted March 14, 2017 at 08:30AM by bottani99 http://ift.tt/2mnmWZX
