I’m 30, wife and 2 kids. I earn roughly $100,000 and live in central US with low cost of living. I’ll be getting my yearly bonus next week which this year will be about $45,000. I already contribute 5K to both our IRA’s each year. And I don’t know what I should do with my bonus. I bought a $200,000 home last year - 30 year mortgage. I have about $6,000 in 1 auto loan and $20,000 in another. And I have a decent savings. Some ideas I’ve had for my bonus are: 1. Pay down home and refinance to 15 year 2. Buy a rental property (I live in a big college town) 3. Another retirement account - stocks? 4. Stick it in the bank and do nothing 5. Pay off 1 or both auto loans What should i do?
Submitted December 14, 2019 at 07:39PM by epokid https://ift.tt/2RPVjeC
