Max mortgage for federal deduction is 750k. I would pay-off about 150k to reach 750k. Instead of paying 1% AUM, I would just buy total stock market index ETF.Hi I am 40 and married w three young kids
700k combined pretax income.
1m in combined pretax retirement accounts
140k in Roth combined
140k in kids 529s
900k in current mortgage at 6.35% rate
Got about 6 months of living expenses saved
All our pretax accounts are maxed out for the year
Selling our previous home and looking to get 200-300k profit.
I have an investment account through fidelity. And one through Morgan Stanley associated with a CFA
I’m looking for long term max gain and don’t need nor want the money any time soon. No big new expenses expected.
Should I just throw it all into a low cost etf like itot?
My pretax accounts are all low cost fidelity funds and pure equity so I am nervous to not be diversified enough.
Should I give some to the CFA to invest ? He does charge a 1% AUM fee. He suggests a someone complex array of equity and bond funds.
I’ve looked at some real estate syndicates due to the potential tax play.
Maybe just put some toward my current mortgage? I am suspecting that the mortgage interest deduction will rise sometime after 2025 though.
Appreciate your thoughts. Maybe a combination?
Statistics: Posted by babystep — Mon May 20, 2024 12:04 am — Replies 6 — Views 450