Need some guidance on what you guys would consider the next step in our financial journey is.
25 year old married couple with a 3 year old and 3 month old. We make a combined salary of 120-130k a year in a low cost of living part of the country. Our financial situation is as follows:
- No Consumer Debt.
- Own 2 Vehicles (2003 Tundra and 2015 Rogue)
- $156,000 Mortgage @ 3.02%. House appraised at $185,000.
- $10,000 in Emergency Savings
- $26,500 in Roth IRA 1 (Maxed for 2021)
- $24,200 in Roth IRA 2 (Maxed for 2021)
- $25,000 in HSA (Maxed for 2021)
- $23,800 in 401k (Contribute $750 per paycheck. Will max for 2021.)
In all, our net worth is in the 150-160k range. I feel that we have an adequate cash savings, so I don’t want to keep adding to an emergency fund. We already contribute a large portion of our income toward retirement, so I don’t want to go that route. I feel the most logical route is, 1.) begin saving for a rental property to add to our portfolio, 2.) pay down the house we are in (but the interest rate is so low) or 3.) Just toss it into a few ETFs and forget about it.
We have anywhere from 3k-7k left each month after all of our living expenses are paid, what’s the best course of action here?
Submitted April 26, 2021 at 05:52PM by Brundonius https://ift.tt/2QpxHzr
