$375k income, $100k+ to invest: best investment strategies?

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  • #94121 Reply

      My wife and I would love some advice on ways to grow our money and make it work for us. My combined income is about $375k per year. We currently have a $100k+ in high yield savings that we can invest with.

      We also have some additional in 401k. We have a low interest mortgage for our primary home, one low interest auto loan, and a small 15 acre place with a little hunting retreat on it. We are able to utilize about 2/3 of the income for bills and pleasure leaving the balance for savings. Suggestions would be great.

      Side note: we haven’t always been at this income level.

      #94122 Reply

        Backdoor Roth should be your project to learn and execute this year. Max 401k, max backdoor Roth. You’ll be on a good path. Congratulations!

        #94123 Reply

          OK, so not enough data here but if I were you I would start:

          • Pay off auto loan
          • Max 401ks
          • Max HSA
          • Taxable brokerage
          • Start researching property syndications
          • Look at rentals on the hunting retreat

          I suggest paying off the auto loan because it’s a loan on a depreciating asset rather than appreciating one. These are the basics.

          #94124 Reply

            Index funds (ETFs) in an ordinary brokerage account would be a fine choice — after you max out the 401ks and IRAs available, which you did not mention.

            #94125 Reply

              Max out both your 401ks.

              Max out HSA if eligible.

              Backdoor Roth IRA contributions.

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