I’m sure this has been asked... I have what I feel is a unique scenario I will be placed in shortly.
My wife and I are 31, both professional careers, and 3 kids. By mid November I will have paid off our personal loan and by March of 2021 we will have paid off our truck. With what we’ve been throwing at our debt we have managed to knock out these items sooner than expected. With the exception of our mortgage all debt has been paid.
My question is, with 6k of FREE income. Should I
1) continue to add to our 5-6 month safety net and build it
2) save up and get back into cash buys, foreclosed homes, and or rentals (stopped because my dad was apart of this process and he retired and I did not want to risk any of his money)
3) stocks? I know nothing about but I’m sure a company will by happy to take a cut and invest for me
4) bump up more than 10% of my paycheck which is going to PAMP gold
5) payoff 270k left on mortgage within 4 years (house valued around 485k)
My short term goal is for my wife to stop working and long term is for me to retire at 50. Thanks in advance
Submitted September 27, 2020 at 09:23PM by ragsamcircleshorts https://ift.tt/3ja4u4r
