I know that some of this comes down to personal preference but I'm curious what others think or have done.
i finished residency 13 years ago and am in one of the lower paying medical specialties.
The only current debt I have is our mortgage ($300K) but I have not accumulated much in savings at this point (175K between a 403b, an employer funded retirement account, an HSA, a savings account and a back door Roth I opened this year).
I have seen the errors of my previously over spending ways. I've maxed out my 403b for the year, will open a spousal IRA and convert that to a Roth, and will max out my HSA for the year. I do not live in a state with state taxes so I do not plan on saving in a 529.
With that done, I'll have another 48K this year to do something with.
Do I pay down the mortgage? I have an ARM that is currently at 2.75. Or do I open a taxable account at Vanguard where I have my Roth with that money?
Any thoughts would be greatly appreciated.
i finished residency 13 years ago and am in one of the lower paying medical specialties.
The only current debt I have is our mortgage ($300K) but I have not accumulated much in savings at this point (175K between a 403b, an employer funded retirement account, an HSA, a savings account and a back door Roth I opened this year).
I have seen the errors of my previously over spending ways. I've maxed out my 403b for the year, will open a spousal IRA and convert that to a Roth, and will max out my HSA for the year. I do not live in a state with state taxes so I do not plan on saving in a 529.
With that done, I'll have another 48K this year to do something with.
Do I pay down the mortgage? I have an ARM that is currently at 2.75. Or do I open a taxable account at Vanguard where I have my Roth with that money?
Any thoughts would be greatly appreciated.
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