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Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: I'm a red panda on January 23, 2017, 05:56:51 PM

Title: Small windfall- what would you do?
Post by: I'm a red panda on January 23, 2017, 05:56:51 PM
I got an unexpected $5,000 today. Not a huge amount, but I didn't know it was coming.

So what do I do with it?

Thoughts so far:
-VTSAX   (Easy, but boring)
-Put it towards mortgage (Rate is 3 3/8%; the mortgage is high enough that we are able to deduct the interest, so DH isn't sure about this.)
-Max my IRA now (but then where do I put the monthly payments that usually go in there? We already max it annually. I know that time in the market generally beats DCA, but this makes me wary...)
-Something else I can't think of?

Our 401k and 403bs are maxed at work. We have no non-mortgage debt. We hold more than enough liquid in our savings/checking accounts, so I really don't want it there.
Title: Re: Small windfall- what would you do?
Post by: Metric Mouse on January 24, 2017, 01:54:15 AM
Taxable account.
Title: Re: Small windfall- what would you do?
Post by: aceyou on January 24, 2017, 04:41:29 AM
Taxable account.

This
Title: Re: Small windfall- what would you do?
Post by: Mother Fussbudget on January 24, 2017, 04:00:02 PM
Assuming you've already maxed other tax-advantaged savings accounts (401k, HSA, IRA, etc)...
I'd max the IRA, and re-direct the monthly savings amounts to the taxable account.
Title: Re: Small windfall- what would you do?
Post by: Davids on January 24, 2017, 04:02:48 PM
As you have not maxed your IRA I say just MAX it now.
Title: Re: Small windfall- what would you do?
Post by: I'm a red panda on February 12, 2017, 04:19:47 PM
Bought VTSAX.

Husband didn't want to go to the bother of redirecting the payments that go to the IRA, so we will continue to do that through the year.
Title: Re: Small windfall- what would you do?
Post by: Retire-Canada on February 12, 2017, 04:29:54 PM
Bought VTSAX.

Good choice.
Title: Re: Small windfall- what would you do?
Post by: MoonLiteNite on February 12, 2017, 05:13:05 PM
-VTSAX   (Easy, but boring)

If you don't want boring may i suggest www.betonline.com?

Although i personally would nail the house :D
Title: Re: Small windfall- what would you do?
Post by: Metric Mouse on February 13, 2017, 02:15:52 AM
Bought VTSAX.

Husband didn't want to go to the bother of redirecting the payments that go to the IRA, so we will continue to do that through the year.
Great work.
Title: Re: Small windfall- what would you do?
Post by: soccerluvof4 on February 13, 2017, 04:46:02 AM
way to go