{ "media_type": "text", "post_content": "My husband and I (both 27) max out our Roth IRAs each year, have a complete emergency fund, and I’m able to start maxing my 401K this year (he contributes 10% to his 401K - it isn’t possible for him to max his based on his current pay). We contribute 18% extra towards principal on our mortgage each month. We now have about $20k of additional savings we want to figure out what to do with. What would you recommend to someone who is new to stocks/investments?", "post_id": "5ff353f7c913d90024a83444", "reply_count": 18, "vote_count": 3, "bowl_id": "5b3f7377ab53db00136f7b4c", "bowl_name": "FIRE Financial Independence Retire Early" }

My husband and I (both 27) max out our Roth IRAs each year, have a complete emergency fund, and I’m able to start maxing my 401K this year (he contributes 10% to his 401K - it isn’t possible for him to max his based on his current pay). We contribute 18% extra towards principal on our mortgage each month. We now have about $20k of additional savings we want to figure out what to do with. What would you recommend to someone who is new to stocks/investments?

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Just here to say y’all are doing GREAT!!!

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Thank you! We really both feel so lucky to be where we’re at and excited for where we’re headed, fingers crossed.

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Personally, would max 401k before paying additional mortgage.

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Not related to FIRE but I noticed you do a 60/40 split. How did you arrive at that? And I totally get keeping things separate. My partner and I do a yours, mine and ours bank account. The "ours" account goes towards joint expenses that we contribute to 45/55 (prorated based on income). I pay the mortgage because I bought the house pre marriage. With divorce rates so high I think its smart to keep things separate to easily figure out who has what.

Additional detail: my car is fully paid off and he has two years of payments left on his. Other than our mortgages, we have no other loans.

D1 - I understand your concern completely. However, we both come from parents with rough marriages (my dad secretly put my mom into debt that she’s still climbing out of at 62), so it’s a matter of personal preference that we drive towards our retirement goal with our individual incomes. Doesn’t mean we love each other any less.

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What’s the rate on the mortgage? Might be better off putting that extra 18% somewhere else if you’ve got a low interest rate.

I would stop paying the 18% completely, and put everything (the extra 18% and the 30%) into stocks/index funds, assuming you have a healthy emergency fund in place first and are already maxing out retirement accounts. Your returns in the market should be closer to 8% over the long term (E.g. the 30 year term of your mortgage).

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