7k per person so 14k total into Traditional or Roth IRA. If you are over 50 you get an extra 1k per person each year as well. That gets most of it into tax advantaged accounts in 15 years. Would keep the rest in HYSA or invested however you please.
So it’s the ‘ however you please’ fraction I’m struggling with. I’m not sure how i decide between mutual, index, FIA or other funds or how to decide between investment institutions, the more i read the more overwhelmed i become.
I'd pay off your car debt if you have them first. I would put a portion of the rest into 4 week t-bill ladders currently paying out 5.4%. The rest I would put into a total mkt fund via taxable brokerage account.
If you are looking to put that 300k into one place for around 15 years and let it grow, an FIA would be a great choice and there are bonus incentives like a 12% bonus added just for putting your money into the account and it has a floor so you are guaranteed your money with no risk of losing any and you dont have to manage it at all!
14K into IRAs for each of you.
Live off of some of the cash, and load up your 401K to max. For each of you if you're both employed and have 401Ks.
Lump sum the rest.
7k per person so 14k total into Traditional or Roth IRA. If you are over 50 you get an extra 1k per person each year as well. That gets most of it into tax advantaged accounts in 15 years. Would keep the rest in HYSA or invested however you please.
So it’s the ‘ however you please’ fraction I’m struggling with. I’m not sure how i decide between mutual, index, FIA or other funds or how to decide between investment institutions, the more i read the more overwhelmed i become.
If you don’t have index funds, what are your employer plans invested in?
I meant outside of those, we haven’t set up any outside of our employer provided retirement accounts.
I'd pay off your car debt if you have them first. I would put a portion of the rest into 4 week t-bill ladders currently paying out 5.4%. The rest I would put into a total mkt fund via taxable brokerage account.
If you are looking to put that 300k into one place for around 15 years and let it grow, an FIA would be a great choice and there are bonus incentives like a 12% bonus added just for putting your money into the account and it has a floor so you are guaranteed your money with no risk of losing any and you dont have to manage it at all!
14K into IRAs for each of you. Live off of some of the cash, and load up your 401K to max. For each of you if you're both employed and have 401Ks. Lump sum the rest.