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Money and Finances
Reply to "What is the best allocation for our money?"
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[quote=Anonymous]Here is our basic information. DH and I are in our mid-30s and have 3 kids. We bought our house for about 850k and have about a 550k mortgage. 3 kids are in private school and we own 2 cars outright. Total college savings is approx. 78k (the kids are all between ages 4 and 7). We pay 600 per month in student loans and have saved approx. 320k in retirement. We have about 90k invested in a joint account and keep around 30k in the bank for bills, etc. My question is: if we were to find ourselves with 5 or 10 extra thousand dollars, would we be better off putting it in our joint investment account? 529s? Putting toward the mortgage? (We already get the maximum tax deduction for the 529, so there wouldn't be any additional tax benefit to contributing more to that). Thanks for your thoughts![/quote]
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