What to do with an extra $800/month?

[freedomquest]

I am new to this site and really excited about it!

We just made our last tuition payment for our child's school (going to public school next year) and I am wondering what to do with the extra $800 a month that this saves us.

We recently refinanced our house ($395k at 3.25% for 30 years) and one consideration is to throw the money at the mortgage to get it paid down faster.
We have 2 kids, one with a fully prepaid in-state tuition plan and another 529 with $50k in it - we would like to save more over time
we max out my husband's 401K and didn't qualify for Roths last year (I stay home with the kids)

Any thoughts on how to best use this extra money?

[Reepekg]

Increase your 401k withholding or put it in an IRA if those aren't already maxed out, so you save on taxes. Otherwise put it in a taxable account. Then invest it in an index fund. You will in all likelihood get more in the market than 3.25%.

[Mazzinator]

Why didn't you guys qualify for Roths??
Here's a good read on taxable accounts..

http://whitecoatinvestor.com/retirement-accounts/the-taxable-investment-account-2/

Good luck!!

[nktokyo]

Get a cheap rental. Having other people pay your mortgage for you is nice.