21. Married. Invest or Travel 1 yr?
Life Situation: 21. Husband is 23. Married. Filing Jointly.
Gross Salary/Wages: $83k combined.
Individual amounts of each Pre-tax deductions- Husband contributes 15% gross pay into Roth IRA (employer matches 6%), I contribute 4% Employer 401k, employer matches 4%, 11% goes into Roth IRA, $1300 in HSA/yr, employer contributes $1,000
Other Ordinary Income: Husband flips cars, averages about $15k/year
Adjusted Net Income: $4600/mo + 15k/yr = $5850 average per month
Current expenses: Mortgage: 1540.88( 15 year loan, 3.75% interest, bought in 07/18 and will sell in 07/20, current mortgage is $125,000)
Tithe: $480
Utilities: $200
Gas: $150
Groceries: $300
Phone: $100( straighttalk)
Wifi: $78 (lowest plan available, only 1 provider in area)
Insurance: $180
Gym: $55
Netflix/Hulu: $21.40
Dates/Eating out: $100
Personal Spending total: $200
Total expenses: $3405.28
Assets: House: valued at $190k
Cars: $20k
Combined 401k Accounts: $27,000
Savings: $68,900
Checking: $4,000
HSA: $2,120
Liabilities: Mortgage: $125,000
We are torn between what we do with the extra money per month. We want to travel the world for 1 year, in July 2020 as we will be moving/planting ourselves in our hometown surrounded by family once finished. Currently we live 3.5 hours away due to our jobs. We are budgeting about $40k for the year long trip. We already have that saved plus some. We also plan on buying a house once we move home, with as much $$ down as possible. We are estimating about $150k for that house. Do we invest, pay down the mortgage, put the money into a HYSA? Torn at where to put this because of our shorter-term goals..