I have what I believe is enough in my 401k/Roth IRA to stop contributing towards it, although correct me if I'm wrong! I am 35, have about 250K in there, would like to retire at 60 (or earlier of course, but that would be when both kids are finished college), and currently live off a taxable income of around $36000/year. (I used to make much more, which is how I got such a high balance).
I own a house, mortgage-free. I have no debt of any kind, except for mortgages on two rental properties I own. Those properties don't make a ton of money, but they do make a little each month and all the expensive items on them (roof/mechanicals) have either recently been done or will be done soon.
There is no employer match for my 401K. I do get a pension. Up until now I'd been putting away around $400/month into my 401K. I want to start investing in something that could possibly enable me to retire earlier. Suggestions? Is it enough to put it into some kind of post-tax mutual fund? I'm not sure I have it in me to invest in the stock market directly, in terms of choosing and monitoring stocks.
Alternatively, does it make more sense to pay off the mortgages on my rental properties earlier? They're at 6.5% and 4%.
Thanks for any advice!