Reply to What a self made multiple millionaire would do in your shoes to increase your net worth.

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[quote=Anonymous][quote=Anonymous]Sounds interesting.  Here are our details:

Age 40
Income - about 95k combined
Property - our home worth about $600k with remaining mortgage of $190k.  Other property out of state value about $300k not rented, currently listed for sale but market is slow.
Other assets: retirement = $380k 
college savings (two kids under 3) about $45k  
brokerage = 80k
money market savings = 40k

We live fairly frugally.[/quote]

Your personal residence:
What is your mortgage rate? how many years remaining on your current mortgage?

Out of state property:
Which state?
Is it mortgaged?  Please provide details of the loan
What would the property rent for (I'm not suggesting that you do that, but humor me for the moment)
What price would get this property under contract in 7 days?
How long has it been on the market?
What commission rate are you offering the buyer's agent?
describe the property type.

Generally:
Are you happy living frugally? (this is not a judgment, but will affect my advice)
What is your financial goal? (retire comfortably at 65?)

Retirement:
How much are you each contributing?  Company matches (if so describe)?  Does your company offer a Roth 401K?  Is any of your retirement money not held by your current employer?

College Savings:
Is this in a 529?  How do the fees in your 529 compare to other 529 plans?

Savings:
There may be a way to ramp up your yield with a laddered CD strategy.  Can you provide me with your current return?  How safe are your current jobs?  What is the return on the money market, net of expenses.[/quote]

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