Latest update is that the commission payout has been confirmed at ~$530-$550K. With this in mind, this is my new thought process:
- Commission Payout Net Taxes - $270K
- Current Cash - $257K
= Total Cash to Allocate - $527K
Allocations:
- Emergency Fund sitting in HYSA earning 4-5% - $100K (this is 6+ months of EF)
- Fidelity SPAXX - $151.5K (this is DCA'd at $1,500/week for the next 2 years)
- Checking - $25K
- 529 Contribution - $90K (Superfunded for 1 parent)
- Miscellaneous - $44K (Primarily made up of funds to cover international travel for a family wedding but also includes things like annual car maintenance, celebratory dinner, etc.)
With all the above, that still leaves ~$116.5K that needs to be allocated and I don't know what to do with it. Put in HYSA? Invest in taxable? Put in 529? Mega backdoor roth? Other ideas?
- Commission Payout Net Taxes - $270K
- Current Cash - $257K
= Total Cash to Allocate - $527K
Allocations:
- Emergency Fund sitting in HYSA earning 4-5% - $100K (this is 6+ months of EF)
- Fidelity SPAXX - $151.5K (this is DCA'd at $1,500/week for the next 2 years)
- Checking - $25K
- 529 Contribution - $90K (Superfunded for 1 parent)
- Miscellaneous - $44K (Primarily made up of funds to cover international travel for a family wedding but also includes things like annual car maintenance, celebratory dinner, etc.)
With all the above, that still leaves ~$116.5K that needs to be allocated and I don't know what to do with it. Put in HYSA? Invest in taxable? Put in 529? Mega backdoor roth? Other ideas?
Statistics: Posted by socialforums2019 — Thu Jan 18, 2024 6:31 am — Replies 13 — Views 978