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

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[quote=Anonymous]This is nice, OP.  Thanks for not being mean or snarky.. you know how it usually goes here.

Me:  32, FT employed, 92.5k
DH: 33, FT employed, 50k
DD is two, in daycare 4 days/week.  No health issues, no SN or anything.
House:  bought at height of boom (I KNOW) for 275k, 0 down (I KNOW).  Current mortgage:  180,000 first lien @ 7.5%ish (ARM) and 50,000 second lien @ 10.5% (fixed).  Total 1800/monthly.  House is currently worth about 150k on market, if we're lucky (I KNOW).
Cars and insurance roughly 700 monthly (but we pay insurance every 6 mos), 6k credit card debt, 40k student loan debt @2.7%
6k savings - 50k my retirement plan, 80k DH's.  The balance on mine is growing in bounds due to employer matching (only a few years worth of input).
529 has a couple thousand.
DH has a life insurance policy that will be worth 2 mill @55 (intended for retirement savings, not actual life insurance, provided he lives that long, lol)  
We have fabulous medical/dental coverage, as well as life insurance on me, through work (monthly cost $800).  Current value of insurance policy:  1/2 mil
utilities, phones, internet/cable:  approx 400 monthly
groceries approx 500 monthly, with probably 100 monthly for eating out, takeout, etc
probably 150 monthly for gas.
We both have excellent credit (750, 830)
DH's old (paid off) car just DIED, thus those car numbers above are higher than they have been for awhile (but he has DD on his own quite a bit, and for our family he NEEDS a reliable car).
Here's the thing:  We both work in industries which will be highly affected by the impending national austerity crisis.  So our concern right now is cash on hand, just in case.  I have an old 401k that I am considering cashing in NOW.  It has just barely rebouded to where it was in early 2008.  It's worth about 10k after taxes and penalties.  Our plan is to cash it in NOW before the markets crash and sock it in savings.  If/When the crisis is past, we will throw it at the credit card debt.  If we need it to pay the mortgage due to loss of a job, we would do that obviously.
The other issue is the house.  It no longer works for our family but for obvious reasons, hard to get out from under.  Both of our parents have offered early withdrawals from our planned inheritances (and they can afford it, no issue there) if we need it for a DP, etc.
WWYD?[/quote]

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