So my wife has agreed to let me invest an additional 1k/month. I'm looking for some advice as to the best course of action. We are currently investing the following:
My Spousal Roth IRA: $5500/year
Wife's Roth TSP: $5827.20/year
Wife does not have a Roth IRA, nor do we have any additional work-related tax advantaged space. Since she's a military doc, we are attempting to use PSLF. Only about 14 months in so far. We have no idea if we will continue to stay in the military. So what's the best way to use this extra money? My ideas are:
1. Max out wife's Roth TSP.
2. Open up Roth IRA for wife and max, then put the rest into Roth TSP.
3. Open up Roth IRA for wife and max, then put the rest into taxable account (for use in case of PSLF implosion)
4. Put all into a taxable account.
Her student debt is at 216k. My gut says we need to be maxing out our tax advantaged space before we think about a taxable account, but does having that money available in a taxable account in case PSLF doesn't work change things? I read a few threads about this topic that have been posted here and on bogleheads, but it looked like posters of those threads were already maxing out their tax advantaged space, so I couldn't really draw a good conclusion for our situation.
My Spousal Roth IRA: $5500/year
Wife's Roth TSP: $5827.20/year
Wife does not have a Roth IRA, nor do we have any additional work-related tax advantaged space. Since she's a military doc, we are attempting to use PSLF. Only about 14 months in so far. We have no idea if we will continue to stay in the military. So what's the best way to use this extra money? My ideas are:
1. Max out wife's Roth TSP.
2. Open up Roth IRA for wife and max, then put the rest into Roth TSP.
3. Open up Roth IRA for wife and max, then put the rest into taxable account (for use in case of PSLF implosion)
4. Put all into a taxable account.
Her student debt is at 216k. My gut says we need to be maxing out our tax advantaged space before we think about a taxable account, but does having that money available in a taxable account in case PSLF doesn't work change things? I read a few threads about this topic that have been posted here and on bogleheads, but it looked like posters of those threads were already maxing out their tax advantaged space, so I couldn't really draw a good conclusion for our situation.
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