(1 of 2) Help needed... Context: Married with first baby on the way. Plan is for my spouse to stay home with our (future) kids for next few years. My income is $250-300K and keeping it that way for a while as I’ve moved off partner track for at least 2-3 years as we start our family. $120K in retirement accounts, $70K in cash, $50K in home equity, and $6K in HSA Beyond mortgage, only debt is a $25K private loan that we can pay back any time in next 5 yrs. and isn’t accruing interest.

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The anticipation for 2of2 is killing me

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I don’t know what you’re about to say but having had a kid while still in my PhD program (TC: $45K, spouse’s TC: $75K, NYC) I think you’ll be ok. Now at LEK (AC level) things are better financially but I spend less time with my kid. TBH not sure it’s worth it.

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Totally respect that.

2 of 2 (sry phone died 😬)... Questions: 1. I’d like to move most the cash (maybe $50K) from my emergency fund into something with more upside given my concerns about inflation. I’m not worried about losing my job ATM (the whole industry is desperate for people at my tenure). Just would like funds to be accessible within 30 days and relatively low/moderate risk investment. Thoughts? 2. I’d like to boost retirement contributions. We have various accounts from our different phases of life (trad. 401K, Roth 401K, Roth IRA) and need to consolidate. Lately we’ve only been contributing to the Roth 401K. How can we maximize across these accounts and what are limits for the two of us? 3. 529 plans, do others with kids use them? What are your thoughts on them? Is the limit still $15K per kid per year? Can they be used for things like Montessori, private schools, etc. or just college? Thanks all!

OP the issue is probably not job loss, as you mention, but there are other reasons you could need cash in a pinch. It's still worthwhile to keep at least 4 months of expenses in cash. Think of the low interest rate as the price you pay for easy access to cash. Your income is high enough that you should be focusing more on building investments via your income rather than moving your cash to an investment. With income like yours, I'd max your 401k and your spouse's 401k if you're married. Put money into a taxable investment every month to a) build your portfolio and b) force yourself to live on less. Also congratulations!

You could also probably invest in bond-holding ETFs like BND, AGG, BLV, VGLT, etc. relatively low risk (ignoring the COVID effect on interest rates, another pandemic is probably unlikely)

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