Where do we go from here?

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tunibell
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Joined: Wed Mar 27, 2013 5:38 pm
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Where do we go from here?

Postby tunibell » Wed Mar 27, 2013 6:07 pm

My husband and I are 36 and 38, respectively, and we have two kids. He works, I stay home with our kids (for now).

Having paid off ALL our debt this year, we are now on track to fully fund my husband's 401k this year (plus we get a 25% company match).

We currently rent our home. We live in a crazy expensive part of the country, and entry level homes in our area are around $900k. (We pay a jaw-dropping $3,400 a month in rent). We would love to purchase a house, but aren't willing to sacrifice our retirement savings to do so.

We've been so focused on paying off our debt that we honestly have no idea where to go from here. Save for a house? Or make sure Roth IRAs are fully funded first and then save for a house? Resign ourselves to renting and save for college? Invest in a stock index fund? Any input would be greatly appreciated.

Here's what we've got:
$110k in 401ks
$10k in Roth IRAs
$56k in a MMF (Emergency Fund)
$60k in US Treasury Bonds
$5k in a single stock
$9k in a 529 Plan

Tightwad
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Re: Where do we go from here?

Postby Tightwad » Wed Mar 27, 2013 8:20 pm

Have you considered moving to a lower cost of living area?

tunibell
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Re: Where do we go from here?

Postby tunibell » Wed Mar 27, 2013 8:32 pm

Not at the moment. The vast majority of jobs in my husband's field are in this area. Plus, we truly love it here.

ThriftGenuity
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Location: Richmond, VA
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Re: Where do we go from here?

Postby ThriftGenuity » Thu Mar 28, 2013 6:06 am

I would think the free money in the 25% 401k match would be hard to pass up. How much of your now freed up money does that account for?
Blog: http://thriftgenuity.com
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