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Started By
Message
re: Where to put $$$$
Posted on 2/28/11 at 11:21 am to Chris Farley
Posted on 2/28/11 at 11:21 am to Chris Farley
We both have 401k's. I have $$ invested in stocks, funds etc, we have a joint savings account which is our rainy day fund. i have a Roth.
This is her money that she had prior to marriage. The correct answer to my own question is to pay down her student debt b/c it has the highest interest rate out of anything we have. have a mortgage, car note with low rate(1.5%) and that is about it.
Basically this is "her" money and for the sake of this discussion using it to pay down debt is not an option.
any of that help?
This is her money that she had prior to marriage. The correct answer to my own question is to pay down her student debt b/c it has the highest interest rate out of anything we have. have a mortgage, car note with low rate(1.5%) and that is about it.
Basically this is "her" money and for the sake of this discussion using it to pay down debt is not an option.
any of that help?
1
Posted on 2/28/11 at 3:53 pm to cptigger
Yes, it helps.
If you won't need the money for a few years why not pay student loans? If it is "her" money, she should pay "her" student loans. Are you saying that she brought some money into the marriage and some debt but is asking to split the debt with you but keep "her" money to herself?
If it really isn't an option, maybe open a Roth for her or maybe put it in an index fund. Of course this poses much more risk than a CD, so you will need to see how much risk she is comfortable taking. You could possibly split it half in each. The big thing is finding your wifes risk tolerance, and if it is her money it will be up to her.
If you won't need the money for a few years why not pay student loans? If it is "her" money, she should pay "her" student loans. Are you saying that she brought some money into the marriage and some debt but is asking to split the debt with you but keep "her" money to herself?
If it really isn't an option, maybe open a Roth for her or maybe put it in an index fund. Of course this poses much more risk than a CD, so you will need to see how much risk she is comfortable taking. You could possibly split it half in each. The big thing is finding your wifes risk tolerance, and if it is her money it will be up to her.
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