re: Advice needed for situation....

Nothing wrong at all with having that house paid for.

Watch your business debt and make sure that is ok in a turn down. $500 k may or may not be a lot of money. If you have notes on a couple of track hoes or bulldozers that won't go far.

If your business is debt free that is wonderful.

I would fund a 529 although you can use the Roths for education purposes.

Buy the disability insurance.

I like stock market investments better than rentals and I do both. Liquidity is nice and you have that with the stock market. I don't buy funds and buy very few stocks. I rarely have more than 3 or4 in my portfolio. I like value stocks mostly coupled with good performers with strong balance sheets. It really doesn't matter where the market is if you buy real value.

In both stock investments and Louisiana real estate investments I think people should really consider prolonged cheap oil. It may go up tomorrow but no one should forget the eighties.

Nothing is a better investment or worth more than peace of mind and you are in business and know that. If you are uncomfortable with an investment or a debt just don't do it. If you don't like stocks stay out of them.

In 15 years or so you will start wanting less things to be bothered with not more. You will want to get rid of stuff and concentrate just on the things you really like--travel, work, hobby or something like that.

Just my opinion.