Hello everyone.
This is my first post and I am a beginner to mustachianism, at best. My family and I live in the Kansas City, MO area where my wife stays with the kids and I work a modest LOW six-figure position. The six-figures is recent but I'm later in life (41 tomorrow). I have concerns about the correct direction to move with our excess monies.
Three options I can think of with details below:
1) We refinanced with Sofi (thank you, MMM) to seven years about a year ago. Total payoff is $13,300 @5.5%. Monthly is $225.
2) We refinanced our house from 30 year @4.75% to 15 year @ 3.49% this month. Payment increased $200/month to $1400.
3) We max our 401K @ $18,000/year. Looking at starting a new investment opportunity.
We have multiple hundreds of dollars to use each month to pay down or invest, but not more than $1000 at this point.
One last question; does real estate ever make sense? We are driving camping trip/vacationers (not primitive but not cabin dwellers, either). We live in the part of the country where green space can be acquired for less than $1,000/acre. Does undeveloped, recreational land ever make sense as an investment, other than an emotional investment?
To close, thank you all for the community you provide to aspiring do-gooders, amateur investors, and recreators of the norm.
Best regards,
cm