Info: Married. 35 y/o. Made recent career change. Very pleased with it but have a whopping $157k loan. Refinanced to 2.8% fixed rate. Plan was 7 years, 2100/mo. Currently paying 2500/mo to try to finish it in 5.
Income: Solid. I make 125/year + 10k in overtime, husband makes 150k/year + 20k from a side business. 403b gets 5% base from employer + 3% match, we put in 6% from our end. For reference, before I went back to school I only made 30-35k a year so this is a huge change.
Other debts: None. 2 cars. Both paid off.
Daily costs: Cheap rent in a large expensive city- 1900/mo. Subway passes 3-5x/week. Lots of takeout but nothing fancy. 1-2k vacation once every other year. Hubby insists on cable TV. I just use Netflix.
Future plans: have a kid in 1-2 years. Buy a house in 2-3 years. Have 100k cash and 400k stock (hubby wants to trade full time and quit his job which I veto’ed for now).
So my question is: do I pay even more to this loan than I’m already doing to finish it in 3 years or leave it alone because the rate is so good OR contribute more to my 403b to get as close to max as possible OR just save the rest of the money in cash for potential future baby/house purchases?
Submitted August 12, 2020 at 11:16PM by dogoodpa https://ift.tt/3gUHyFf
