I have around 30k that I want to make a plan for. My wife and I have no traditional consumer debt but we do have a mortgage, currently cash flowing all expenses, maxed out yearly ROTH for myself and wife, and making a 7% contribution to my SIMPLE IRA. I am considering the following options, open to others.
- Investing the 30K in index fund in a taxable account,
- 5 month CD at 2.5% to buy time to make a plan
- Increasing my SIMPLE IRA contribution to make that out for the year and draw down the 30K to cover the lower take home pay over the next few years
- Make a 1 time payment toward our mortgage.
- Take 10k and start college fund for 7month old, remaining 10k unsure. Maybe take our first family vacation?
Submitted August 02, 2022 at 11:58PM by Minimum-Chicken859 https://ift.tt/gVKxvAd
