DH and I have built up about 12k worth of savings in the last few months and are puzzling over where would be the best place to stash it. Here's our current set up of accounts:
Me
457: maxed
Trad IRA: maxed
DH
Rollover IRA
Simple IRA at current job: $400/mo + $115\mo employer match (that's as high as the match will go)
Joint, taxable
VTIAX
VTSAX
Everything except the 457 is at Vanguard. Have 40k EF/FU$ in a CD ladder.
Does it make sense for him to open and max a Roth IRA, and to put the rest into our taxable account? Should we then look at increasing his simple IRA contribution? Or just sweep savings into the taxable accounts every few months? Theoretically, he could add to his rollover IRA, but my interwebz research says this isn't the best idea.
He also has a student loan hanging out there at 2.9% with $3200 left to go, which we could nuke, I suppose. It is our last remaining debt.
Together, we gross just over $8000/mo. I think we are in the 15% tax bracket. We are both in our mid-forties, aiming to retire in 7-10 yrs.
Any input as to our best way forward? I am not very savvy on the tax implications, for example, so other perspectives are appreciated!