Our financial situation is a bit complicated, but basically my husband is semi-FI (and the stay-at-home parent) and I work full-time. My salary would not cover all of our living expenses, so we withdraw $24,000 a year from our accounts (listed below). We would be able to withdraw less if we paid off our vehicles. We financed two cars last year after years of driving paid-off ones (stupid of us), but we really like the cars and want to keep them. Should we pay them off (and therefore withdraw less from our accounts each year) or should we keep the payments? I *think* that we should keep the payments per the investment order, but I thought I should ask.
Assets
$127,020.94, Brokerage, Vanguard Target Retirement 2030
$188,784.44, Traditional IRA, Vanguard LifeStrategy Growth Fund Investor
$48,045.16, Inherited IRA, Vanguard Wellesley Income Fund
$162,167.37, Defined Contribution Retirement Account, Vanguard Total Stock Market
$52,170.15, Defined Contribution Retirement Account, Vanguard Target Retirement 2030
$15,322.09, Defined Contribution Retirement Account, Misc. Weird Investments TIAA put us in that we are slowly getting out of
$68,070.55, Defined Contribution Retirement Account, Vanguard Target Retirement 2045
$41,000, State Retirement, Lump Sum Amount (current value, available in 12 years)
$34,731.23, 529, Vanguard Aggressive ($24,000 original contribution)
$34,706.79, 529, Vanguard Aggressive ($24,000 original contribution)
$772,018.72, Total
We also have about $135,000 in home equity, for a total net worth of approximately $907,018.72. I plan on working for 20 more years and my salary should cover all of our expenses in the next 3 years or so.
Cars
$28,682.23, 4.95% APR, 2016 Honda Odyssey
$20,530.69, 5.24% APR, 2019 Toyota Corolla
$49,212.92, Total