Quick background:
I'm 33 and my wife is 28. We earn great money and are both motivated to spend responsibly and retire early, however, we are beginners at investing. Before hearing about MMM, we went to a financial advisor that wanted 2.5% to manage my funds. That seemed crazy so I spoke to a friend who introduced me to MMM a couple weeks ago. So, for the past two weeks I read articles in bed until my eyelids stopped. I'm now a mustachian. I'm green though, so I need help!
My request:
I have a $40k stash to invest ASAP. We are thankfully in a good financial situation and any assistance from the veteran mustachians would be MUCH appreciated as we get organized financially.
Current situation:
- Debt free except mortgage (30y @ 3.625, 2 years in, payment is 2k/month, we pay ~5k/month, 370k remaining, 520k home)
- Combined annual income is ~$250k
- 401k is our primary retirement savings which I max out each year; no other retirement account
- 25k is in a personal investment fund my wife has and needs to switch over from her parents name
- $40k is sitting in Capital One 360, earning jack s$%#
Other thoughts:
- I originally wanted to invest $11k in a Roth IRA but won't have enough write-offs to be eligible to open/contribute to a Roth;
- I'd like about $25k relatively easy to access in the case of an emergency;
- I would like to begin relatively aggressive personal investing with the rest (Vanguard index funds, I presume);
- Not sure if it matters but we haven't filed 2014 taxes yet so I assume there could be some tax savings to be had from investing this.
Please help with what to do with my $40k. Thanks in advance!!!
