I turned 35 not that long ago, and for some reason that seems like a huge milestone in my financial surroundings (30 years to 65 I guess). I generally feel pretty good about our financial picture and have reviewed the Prime Directive and related sidebar advice. My partner and I have already been extremely lucky (and worked hard) and are deeply thankful for what we have.
But I’m wanting to know what else we should focus on to safeguard our family and future. 240k left on the mortgage at 4% (30-year fixed). The house needed a little work, so we put a little less down than we could have and proceeded to go 30-year to carry out some short-term renovations, so we’re at like 89% LTV.
200k pre-tax (some compensation is performance-structured). I make more than my spouse right now, but my partner is just a little younger than me, and their career is likely to progress and bring their income up accordingly within the next 5 years (and hopefully beyond). We do not plan on that However.
Long-term savings: I have been extremely fortunate in that my parents do well for themselves and thought we would help with college. Additionally, I didn’t pursue expensive higher education beyond my bachelor’s (was simply finished with school), and they gifted me some money to start saving early as a result. 5k in a HSA we recently started. We’re maxing out my 401k and getting the match for spouse, and maxing both IRAs. With aggressive saving for our home we’ve not had the opportunity to make brokerage investments this season, but I am hoping to job application that. We’re aggressive in shares at about 90/10 proportions with wide market exposure.
- 16 units in Cowtown – $320,000 – 12% Cap
- When investment income is distributed, the dividend will be a non-eligible dividend
- Network performance requirement
- Change never to affect benefits
- Are Appliances for Rental Property Tax Deductible
- Decision Management
I expect these quantities will see some rocky days before my 30’s are out seeing as the marketplace is at an all time high, but we won’t touch this money if the marketplace tanks even. Should I focus on making extra mortgage investing or payments? At 4% it could seem like the smart move long term is always to place on the market, which would outperform savings on the mortgage.
Once we look after maxing tax advantaged cost savings vehicles, where could we look to make our money work for all of us more? I feel like investing in a company / investment property is a little of a stretch at this time. Do people prepare for bringing a kid into the family because they build up a fund for it? How much if so? Haven’t found many books with this.