The Money Mustache Community

Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: kateymoo on April 14, 2016, 05:20:40 PM

Title: Where to put my extra cash
Post by: kateymoo on April 14, 2016, 05:20:40 PM

Thanks!

Title: Re: Where to put my extra cash
Post by: Cwadda on April 15, 2016, 04:35:48 PM

So you already have 401(k), Roth/Trad IRA, and HSA maxed? And are already putting away $5k/month on top of that into a taxable? I'd say start working on the highest % loan. In your case, 4% for the mortgage. I would also keep paying all student loan interest, you can write that off your taxes.

Title: Re: Where to put my extra cash
Post by: Gevans17 on April 17, 2016, 10:48:44 AM

his income may be too high to deduct his student loan interest.

Title: Re: Where to put my extra cash
Post by: nereo on April 17, 2016, 11:04:44 AM

Heres some food for thought:
Why would you decide, after maxing out tax-advantaged accounts, to put the first $5k in a betterment account but then decide to do something different for money on top of that?

my opinion: if you've decided to put money into taxable accounts instead of paying down debt, you should do that regardless of how much money you have to invest.  Conversely, if your goal is to eliminate debt, put it ALL towards your highest interest rate.