Results 1 to 2 of 2

Thread: Leftover Income Investments

  1. #1
    Registered User
    Join Date
    Dec 2012

    Leftover Income Investments

    My wife and I were doing our budget for 2013 yesterday and determined that we'll end up having about 30-40k in unallocated income in the next CY after expenses. This takes into account maximum contributions for our respective 401k and IRA accounts. We don't plan on having children for another 3-5 years and otherwise have no debt outside a mortgage (3.875%). I'm unsure what the best plan for the surplus is at this point. The options I've considered so far are:

    - Move into unprotected investment accounts and save for a downpayment on a future home (we'll be moving in a few years and used a VA loan on our current home, so there is no equity built up atm)
    - Start a 529 account for children's education (not sure if this is possible before they're born)
    - Hookers and blow
    - ???

    Seriously, any suggestions would be helpful here. Are there other tax sheltered investment vehicles that I should be looking into aside from the ones I mentioned? We've been doing the first option for the past few years but the amount has always been much smaller since I just received a promotion and large pay bump.

  2. #2
    What the actual fuck? Malice's Avatar
    Join Date
    Dec 2012
    You can start a 529 before your kids are born. Though I haven't used a 529, from what I understand it's pretty easy to transfer assets once your kids are born, meaning you'd set up the account under your name then when your child is born you'd transfer the assets to them. You'd have to double check the specifics and restrictions though.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts