I made a similar post a while back but have some more concrete numbers to work with now that my wife got a raise. We are early 40s DINKs that have a household income about 3.5x higher than 5 years ago but basically the same expenses.
This is leaving us with about 5k a month to figure out how to invest. This is after tax advantaged accounts maxed, a healthy emergency fund, and enough to pay for the next car in cash. I also have 15 years paid into TRS, which will pay me about 2k/month when I’m in my late 60s.
These are the options I see but would love others opinions:
1. Brokerage account - dollar cost averaging. Don’t have much in this account because we weren’t making enough to fund anything beyond retirement accounts until very recently. I was a poor teacher for 10 years and my wife wasn’t making much.
2. Pay extra towards current rental property. Owe 130k at 7%. Somewhat recent purchase. House pays for itself plus a little currently.
3. Save for another rental. Currently have about 35k put away for that.
4. Pay extra on our own mortgage. Owe 130k at around 3%. House is probably worth 600k.
5. Hookers and blow.
Additional info. I’m in sales and get a few commission checks a year. Anywhere from 10k to 100k, but usually on the lower end of that range. Need to start planning for that as well.