I have a car loan that has $5,500 left on it ($205 monthly payment) and have about $17,000 liquid cash myself and about $45,000 saved up with my wife. My wife and I are having a baby in April and are looking to buy a house within the next 2 years. We will be getting a new car and expect the payment to be around $350-400 a month. My wife and I are able to put away about 3 grand a month into savings/investments now.
Should I pay off the car loan I have to gain an extra $205 in liquid cash a month or should I put that money straight into my roth next year to top it off early in the year?
Submitted November 26, 2020 at 09:48PM by CTEisonmybrain https://ift.tt/3o6hjix
