I'm having an issue here deciding on how to approach multiple goals.
I have $13,000 at 0% credit card debt for life of balance. I have this money in a money market fund paying 5.4%. The minimum payment on this is $200.00
I have contributed 10% of DH's salary into the 401(k) and I regularly contribute to my IRA (usually only about $2000. Total IRA value $99,000
I am prepaying tuition (two years at commuity college) for DD9 and DD8 ($226 a month for another 4 years 9 months). The other college money in their names is this: DD9 $7K, DD8 $7K, DS4 $7K, DS2 $1K.
Our mortgage is $290K on a $510K value and we own a rental property paid off for $330K. We do make an additional payment per year based on pay every two weeks (13 payments a year).
Where would you put additional money gien this situation: Retirement, College, Mortgage?
How do you manage multiple savings goals at a time?
July 24th, 2007 at 10:06 am