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Reply to "Would you save extra money for retirement or put toward mortgage debt?"
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[quote=Anonymous]We're in mid 30s, one child not in daycare. Spouse was at home and just now returned to workforce, so family income which was previously $115k will now be $211k. Both jobs stable. Only debt is mortgage of $440k which has been tight on one salary. Ample savings. Newly employed spouse will make full TSP contribution of $17,500 in 2014. Would you also each contribute $5,500 to an IRA, converted to a Roth this year? Or put that money to the mortgage debt at 4.125%? It feels like borrowing from Peter to pay Paul... at the same time spouse hasn't saved much for retirement over the past 3 years while doing a small amount of consulting. We are also saving for college.[/quote]
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