I am 31, she is 28, 2 kids.
Next year we will start having extra income to invest. Currently we max our ROTHS, and I have a required pension at work. She has uncomfortably agreed to keep funding our Roth’s each year, and does like the idea even though it’s a bit “sketchy” to her. I’ve explained, showed her, let her look on her own about mutual funds, SWR, and other applicable information.
She is open to contributing some of the extra to one of the tax advantage plans I have at work (457, Roth 457, 401k, Roth 401k). We haven’t settled on a figure yet, I’m thinking she will probably be ok with around $18k. This would be with Savingsplus.
That will still leave $20k give or take depending on bonuses, that will need to be invested.
I would prefer putting another $18k in one of my work accounts. She is making it pretty clear that is not something she is interested in doing.
She isn’t sure what she would do with the other $20k, but does want to invest it. Her, and I agree, one idea is to save it up for a rental or flip. We have rentals and have flipped before, but where would we park the money over the next 5-7 years?
I know annuities have drawbacks, but if she is unwilling to do mutual funds for the remaining amount, or if not used for real estate, is this something we should consider doing?
#1. We make financial decisions together, in agreement
#2. We have paid for rentals, she grew up doing rentals and likes that she can “touch it”