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What should I do with an extra $2,500 monthly cash?

I need some advice on what to do with some extra monthly cash flow. I currently have two car payments and a house payment. At this time I have roughly $2,500 extra cash flow per month. I am currently putting the extra on one of the vehicle loans. One should be paid off in about eight months and then I plan to put all of the extra on the other. Both should be done it about one and a half years. My employer 401(k) is currently funded and my wife is contributing around $6,000 per year. I will still have a home mortgage after that which is 3.7 percent interest. What would you suggest to do after the vehicles are paid off? Pay on the mortgage? Fully fund my wife’s 401(k)? What other investment options should I consider?

Debt, Financial Planning, Investing, 401(k), Real Estate
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I suggest you consider opening and funding a nonqualified investment account at a reputable online broker.  Charles Schwab, Interactive Brokers, and TD Ameritrade are good choices. Also, consider engaging an independent advisor at one of these brokers.

At 3.7%, assuming that's a fixed rate mortgage, I think it makes sense to pay off your mortgage as scheduled and not prepay.  Also, from a diversification perspective, I believe it's a good idea to not put all your eggs in one basket, i.e., qualified retirement accounts. The future is uncertain regarding tax rates and your need for pre-retirement liquidity.

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