Ok here is our current situation: I (28m) have a very solid job that likely won’t be going anywhere soon, knock on wood. I take home 65k a year before over time. I have a TRP Retirement plan that I just started with my company and just put ~$400 into some different stocks yesterday. Health care is through my company and is pretty close to being Tricare levels of good.
My wife brings home about 60k a year, but is self employed and has no benefits to speak of outside of picking her own schedule. She has ~$30k in student loans to pay.
Together we have saved ~$12k. The savings was going to go towards furnishing a house once we start looking at the end of August. We also have a loan on a car with about ~$30K left to go.
We found out today that My wife is likely going to be out of work come October due to the industry being forced to close down. And we also found out that she is two months pregnant.
What can we be doing with our money to set us up for success in the near future (5 years) going off the assumption that she might not be working soon and probably won’t once she has the kid. I am pretty financially stupid, so any and all advice is welcome. We aren’t really panicked right now, just want to be prepared moving forward.
Submitted July 09, 2020 at 08:55PM by Tarmogoyf_shadow https://ift.tt/3iNdQU5
