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Investment Thread - For all your money needs

The wife and I already max out a couple Roths a piece, and we're at a point where we can go ahead and get rid of this whole mortgage thing in the next 6 months or so. So tell me, rich Wake people, what should I do with the monthly money that we used to spend on our mortgage.

Wait a sec, a couple of Roths for each of you? Or you each do one? Presuming the second...
 
Wait a sec, a couple of Roths for each of you? Or you each do one? Presuming the second...

Yeah, we each have 2. One for our supplemental retirement and one for college for each of our kids. Is that dumb?
 
Yeah, we each have 2. One for our supplemental retirement and one for college for each of our kids. Is that dumb?

are you sure it's a Roth IRA? pretty sure you need to have income to contribute to a Roth IRA.

perhaps a 529 savings account, as noted by connor
 
The wife and I already max out a couple Roths a piece, and we're at a point where we can go ahead and get rid of this whole mortgage thing in the next 6 months or so. So tell me, rich Wake people, what should I do with the monthly money that we used to spend on our mortgage.

Find a good financial advisor / wealth manager who can help you develop a real plan and don't come back to this thread.
 
Find a good financial advisor / wealth manager who can help you develop a real plan and don't come back to this thread.

The right answer generally is to keep living below your means and maximize all tax free and tax deferred savings/growth.
 
My 401K went up 2.7% on the day based pretty much entirely on a 1.5% share of GME. Crazy.

It does make me wonder why on earth that index fund is invested in GME right now though.
 
Anyone feel Facebook is very undervalued at the moment? I know the service is flattening and will fade in the US, but they have so much more going on and make buckets of money. Growth stocks get all the attention but FB seems like it still has plenty of opportunity. Do the antitrust possibilities make it more or less attractive?
 
Yeah, we each have 2. One for our supplemental retirement and one for college for each of our kids. Is that dumb?

Are you going over the contribution limits if you’re maxing out two accounts each?
 
Yeah, we each have 2. One for our supplemental retirement and one for college for each of our kids. Is that dumb?

How do you report them on your taxes? What’s the total $ you contribute?

And yes, using a Roth IRA in your name for college savings is dumb. It reduces the amount you can save for retirement and you’ll pay tax on any earnings you withdraw. It will also affect your FAFSA expected family contribution amount.
 
Your house is paid off and you're like 40? Why send your kids to college? To teach them how to spend the #trustfund?
 
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