My wife an I have managed to pay off all our debt except the mortgage (woo!), and we have saved up an emergency fund that equals six months of my salary (again, woo!). We're both 31 and I feel like our financial situation and goals may be slightly different than most people, and I would like some advice about our next steps.
I am a NC state employee and am therefore required to pay into the State Employees Retirement system. Upon completion of 30 years with the state I will begin receiving payouts from the system that equal 50% of my highest three years of salary and free health insurance (I'm ten years in) My daughters' college tuitions are covered in full by a generous gift from their great-grandparents. Our biggest financial goal is to purchase a vacation home at the beach to one day retire to, and of course to retire comfortably.
We already have a regular IRA to which we contribute.
The state offers both a 401kMy wife an I have managed to pay off all our debt except the mortgage (woo!), and we have saved up an emergency fund that equals six months of my salary (again, woo!). We're both 31 and I feel like our financial situation and goals may be slightly different than most people, and I would like some advice about our next steps.
I am a NC state employee and am therefore required to pay into the State Employees Retirement system. Upon completion of 30 years with the state I will begin receiving payouts from the system that equal 50% of my highest three years of salary and free health insurance (I'm ten years in) My daughters' college tuitions are covered in full by a generous gift from their great-grandparents. Our biggest financial goal is to purchase a vacation home at the beach to one day retire to, and of course to retire comfortably.
We already have a regular IRA to which we contribute.
The state offers a 401k, a 403b, and a 457 with no employer match.
My question is, what is the best method to invest our savings that will allow us to use the money for a downpayment on a second home one day? Is the answer just a regular, taxable brokerage account?
Submitted February 19, 2018 at 08:54AM by sirlaughsa_lot http://ift.tt/2oagGI4
