Hi,
i have been following WCI for 2 years now , on/off. How I wish I knew about this website when I was resident ! But , I guess it's never too late. I need your suggestions and advice please regarding how to increase my net worth as well as investment strategies.
a little bit about our situation
age 39, married with 1 toddler , spouse currently unemployed
salary 170k
investment (wealth front ) 37k
vanguard money market savings 50k
403b,401k 70k
other (checking,savings,) 33k
misc short term funds 5 k
our liabilities
student loan 90k( I have been aggressive in reducing it in the last 3 years)
Multiple loans with variable interest rates 3.75 - 4.75% schedule payoff 2032
Monthly rent 1400
car 200/month lease
creditcard average 3500/month paid in full each month
questions are
1. Should I just pay the complete student loan off right away , or do it in the next few years
2 should I rather buy a house to build some asset with appreciation, rather than throwing money in rent
I have rented for the last 5 years since we have moved twice.
We are not sure if we are going to stay here for more than 2 years or not , in that case should I consider other investment strategies ?
3. I have been maxing out my 401k for the last 2 years, is it a good idea to start a college fund for my daughter ( she is 3 now)
4 is there any strategies for me to reduce my tax burden and invest more into tax deductible options ?
thanks
i have been following WCI for 2 years now , on/off. How I wish I knew about this website when I was resident ! But , I guess it's never too late. I need your suggestions and advice please regarding how to increase my net worth as well as investment strategies.
a little bit about our situation
age 39, married with 1 toddler , spouse currently unemployed
salary 170k
investment (wealth front ) 37k
vanguard money market savings 50k
403b,401k 70k
other (checking,savings,) 33k
misc short term funds 5 k
our liabilities
student loan 90k( I have been aggressive in reducing it in the last 3 years)
Multiple loans with variable interest rates 3.75 - 4.75% schedule payoff 2032
Monthly rent 1400
car 200/month lease
creditcard average 3500/month paid in full each month
questions are
1. Should I just pay the complete student loan off right away , or do it in the next few years
2 should I rather buy a house to build some asset with appreciation, rather than throwing money in rent
I have rented for the last 5 years since we have moved twice.
We are not sure if we are going to stay here for more than 2 years or not , in that case should I consider other investment strategies ?
3. I have been maxing out my 401k for the last 2 years, is it a good idea to start a college fund for my daughter ( she is 3 now)
4 is there any strategies for me to reduce my tax burden and invest more into tax deductible options ?
thanks
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