How to invest $15,000 cash?
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On a side note, I'd be tempted to refi your mortgage. If you have good credit, you should be able to get a no-doc loan for around 6.25%. JMO
AJ
How to invest $15,000 cash?Since you are married you should max out your Roth IRA. I'm not sure what the limit is for a married couple, but this is a great tool. You should take advantage of it.
How to invest $15,000 cash?Invest in this order....
1. Max out you 401K since the company matches.. thats an immediate 6% ROI
2. Max out your ROTH IRA
3. Max Out your Traditional IRA.
4. Pay down your mortgage as much as you can stand. Just making 1 extra payment/year cuts off 3.6 years of a 30 yr mortgage. Think about it....you are at a point in your mortgage where big payments are paying predominantly PRINCIPAL...
5. Open a brokerage account and invest in a index fund, which over the past 40 years has averaged 175+ ROI annually.......
How to invest $15,000 cash?A few things to note. Max out your Roth IRA by adding $2k. Then open a Roth IRA for your non-working spouse, and fully fund it with $4k (why didn't anyone who answered pick up on this?!). Put the rest in a 6 month CD, and next year do the same thing until it's all invested.
I am a bit surprised that you would be asking the general population this question; you appear to have knowledge of finances and investing. But that's what we're here for.
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