Author Topic: Small windfall- what would you do?  (Read 2773 times)

I'm a red panda

  • Walrus Stache
  • *******
  • Posts: 8044
  • Location: United States
Small windfall- what would you do?
« on: January 23, 2017, 05:56:51 PM »
I got an unexpected $5,000 today. Not a huge amount, but I didn't know it was coming.

So what do I do with it?

Thoughts so far:
-VTSAX   (Easy, but boring)
-Put it towards mortgage (Rate is 3 3/8%; the mortgage is high enough that we are able to deduct the interest, so DH isn't sure about this.)
-Max my IRA now (but then where do I put the monthly payments that usually go in there? We already max it annually. I know that time in the market generally beats DCA, but this makes me wary...)
-Something else I can't think of?

Our 401k and 403bs are maxed at work. We have no non-mortgage debt. We hold more than enough liquid in our savings/checking accounts, so I really don't want it there.

Metric Mouse

  • Walrus Stache
  • *******
  • Posts: 5280
  • FU @ 22. F.I.R.E before 23
Re: Small windfall- what would you do?
« Reply #1 on: January 24, 2017, 01:54:15 AM »
Taxable account.

aceyou

  • Handlebar Stache
  • *****
  • Posts: 1589
  • Age: 37
    • Life is Good - Aceyou's Journal
Re: Small windfall- what would you do?
« Reply #2 on: January 24, 2017, 04:41:29 AM »

Mother Fussbudget

  • Pencil Stache
  • ****
  • Posts: 840
  • Age: 58
  • Location: Indianapolis, IN
Re: Small windfall- what would you do?
« Reply #3 on: January 24, 2017, 04:00:02 PM »
Assuming you've already maxed other tax-advantaged savings accounts (401k, HSA, IRA, etc)...
I'd max the IRA, and re-direct the monthly savings amounts to the taxable account.

Davids

  • Pencil Stache
  • ****
  • Posts: 972
  • Location: Somewhere in the USA.
Re: Small windfall- what would you do?
« Reply #4 on: January 24, 2017, 04:02:48 PM »
As you have not maxed your IRA I say just MAX it now.

I'm a red panda

  • Walrus Stache
  • *******
  • Posts: 8044
  • Location: United States
Re: Small windfall- what would you do?
« Reply #5 on: February 12, 2017, 04:19:47 PM »
Bought VTSAX.

Husband didn't want to go to the bother of redirecting the payments that go to the IRA, so we will continue to do that through the year.

Retire-Canada

  • Walrus Stache
  • *******
  • Posts: 7741
Re: Small windfall- what would you do?
« Reply #6 on: February 12, 2017, 04:29:54 PM »

MoonLiteNite

  • Bristles
  • ***
  • Posts: 411
Re: Small windfall- what would you do?
« Reply #7 on: February 12, 2017, 05:13:05 PM »
-VTSAX   (Easy, but boring)

If you don't want boring may i suggest www.betonline.com?

Although i personally would nail the house :D
« Last Edit: February 12, 2017, 05:14:44 PM by MoonLiteNite »

Metric Mouse

  • Walrus Stache
  • *******
  • Posts: 5280
  • FU @ 22. F.I.R.E before 23
Re: Small windfall- what would you do?
« Reply #8 on: February 13, 2017, 02:15:52 AM »
Bought VTSAX.

Husband didn't want to go to the bother of redirecting the payments that go to the IRA, so we will continue to do that through the year.
Great work.

soccerluvof4

  • Walrus Stache
  • *******
  • Posts: 5935
  • Location: Artic Midwest
  • Retired at 50
    • My Journal
Re: Small windfall- what would you do?
« Reply #9 on: February 13, 2017, 04:46:02 AM »
way to go