Hi everyone - I work for the United Nations, therefore, my entire salary is tax exempt. I am not a US citizen but will spend the next 25 years working in the US. I am 37 years old. I live in Washington DC. I have no student loans, credit card debt or car loans. I do have a mortgage. I am quite good at saving but clueless when it comes to investing and my question to the MMM community is how would you suggest I best invest my current and future savings in order to retire comfortably by 60 the latest?
Income:
Gross pay: $135,000 annual ($5625 biweekly)
Heath insurance: $100 (biweekly)
Pension contribution: $600 (biweekly)
Net pay: $4925 (biweekly) $9850 (per month)
Taxes:
No federal or state tax (entire salary tax exempt as UN staff)
Expenses:
Groceries: $700 (approximately per month)
Mortgage, insurance, and tax: $2200 (per month)
Utilities: $250 (per month)
Cable and internet: $120 (per month)
Gym: $50 (per month)
Leisure and travel: $300 (per month)
Other: $300 (per month)
Total $3920 (DC is an expensive city!)
Assets:
Home: Value $800,000 (I owe $330,000)
Cash: $200,000 (I have not yet invested this - would like help with this in particular)
Online brokerage account: $30,000
Total $1,030,000
Retirement:
UN Pension: $70,000
Total Assets: $1,100,000
Liabilities:
Mortgage: $330,000 (amount I owe)
Total Liabilities: $770,000
Net Worth: $440,000
Thanks a lot for any advice!...especially on how best to invest cash savings of $200K with a time horizon of 20 years