Hello,
My husband and I are in our mid-twenties and both earn pretty good wages. We carry no debt except for our 15 year mortgage at just less than 200k at 3.75% interest. We also contribute fully to our employer match 401k plans. As it stands right now, we currently have accumulated an additional 30k (on top of the "emergency fund" we keep in cash) and expect to continue saving a large portion of our bring home income in the coming years. The real question is, what our next move should be.
We've already got a few thousand dollars in mutual funds. We could easily move the money to that same Vanguard account and invest in the stock market. We've also considered buying some inexpensive rental property, paying it down as quickly as possible over the next ear or so, and using the income from the property as another revenue stream. Or, we could put the money down on our mortgage and shoot to pay that off very first. We do wish to have our entire mortgage paid off for peace of mind, but aren't bent on having it done immediately if there is a smarter way to use our money to our advantage in the short term.
Any thoughts or advice would be very appreciated.