Relatively new 'stachian here, but I'd like to think I've made generally 'intelligent' investment and life choices regarding money and spending... except for the early 20s which I think a lot of us 30 somethings regret... sometimes learning is indeed painful.
I happen to actually enjoy work and my career and have no plans to retire before at least 50-55 (32 now) because I find it enjoyable and mentally stimulating and other than the fact it's known for it's ups and downs and massive layoffs (Oil and Gas Industry) I feel pretty confident about my future .
Here's the dilemma, DW's income has mostly gone to paying off her student loan debt, we've managed to shred her $30K (probably pretty low in comparison to others) in ~2 years, but what's the best approach after this month to invest all this extra cash?!? which will amount to around $900 (spend it all, right?, haha)
Here's the stats:
1.) My 401K is currently maxed
2.) Another $500 a month is going to savings/taxable investment accounts already. (I'm using Betterment)
3.) The existing debts:
Mortgage at 2.75% on a 15 year, (13 years left, ~$85K, home worth $135K)
Auto at 0.9% , half paid off, no rush to really finish it either with that interest rate, better returns elsewhere.
Our spending is about 35-40% of our after tax income, with the remainder going to savings already, so while we're not living the most absolute frugal lifestyle I think we're both comfortable with where we are in that regard and as our incomes rise it probably won't change... we don't really need anymore stuff.
Option as I see them: (I'm leaning towards option 2)
1.) Open the DW a separate 401K or IRA and max it out (her employer contributions and options are terrible - 401k is through Bank of America, ugh.)
2.) Split 401K/IRA and Betterment funds 50/50 with the "new" $900 a month
3.) All into the betterment (more access to liquidity without penalty)
4.) Pay off house/car? (seems illogical due to the above interest rates?)
Any other thoughts or suggestions???
Thanks all in advance!