greetings fellow Mustachians and aspiring muctachians. I have been following the blog for a about a year now and would like to present my scenario to see if I can get any sage advice from any of you like minded folks. I'll start with my stats and then investment dilemma.
Im a physician in my early 30's and have no consumer debt, but have 200k+ in student loans and have absolutely no savings of any kind for retirement (do have about 20k cash in case emergency). Wife and I have managed to adopt a "pencil thin mustachian" life, with post-tax savings rate of about 50%. I can contribute to 401K and IRA (but havent yet) and my employer maxes my HSA annually
from reading here and elsewhere it seems that the first thing I should do is stuff the max into 401k and IRA/spousal IRA. Anyone disagree? At my current income level I can do that and still have leftover of about 3k per month to "save" or pay towards debt. (not spend on lavish goods / cars / trips)
So my question: after maxing IRA and 401K contribution, what to do with leftover? My current thoughts revolve around starting 529 college plan for my son, paying more towards mortgage (4%), paying down higher interest loans (I have about 100k at 6%, 50k at 4% and 5k at 2%), or starting a traditional taxable brokerage account. I know this is a very different dilemma than most, so I appreciate your advice in advance