- Joined
- Sep 10, 2012
- Messages
- 803
- Reaction score
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Recently purchased a home together with my girlfriend, financed a used car (mine electronically crapped out), and have been working on my student loans.
Emergency funds: now built up to $50k over the last few months. Monthly expenses about $10k with loan commitments.
Tax Filing Status: Single
Tax Rate: 35% Federal, No State Income Tax
Debt:
- Home: 30 year loan structured as 510k at 3.375%, HELOC on rest 308k at 4%. Home value 950k.
- Car: 2018 Tahoe 44k @ 4.9%, 60 month loan.
- Student Loans: Just refinanced with PenFed at *variable* 2.1% on 229k left.
I'll be filing taxes this year as single, we'll likely be engaged by the end of the year.
401k is maxed out, backdoor Roth is funded, HSA is funded. My employer contributes pretty close to the max 53k each year so no mega backdoor option. Trying to work my way through which of these to pay off early. I'm not going to deplete my emergency funds, but make enough to where I can use most of that on some large lump sum payments.
There's obviously some tax implications for the home with interest credits, but there's the low hanging fruit of just paying off the car and also getting as much down on that variable student loan rate as possible. Thoughts?
Emergency funds: now built up to $50k over the last few months. Monthly expenses about $10k with loan commitments.
Tax Filing Status: Single
Tax Rate: 35% Federal, No State Income Tax
Debt:
- Home: 30 year loan structured as 510k at 3.375%, HELOC on rest 308k at 4%. Home value 950k.
- Car: 2018 Tahoe 44k @ 4.9%, 60 month loan.
- Student Loans: Just refinanced with PenFed at *variable* 2.1% on 229k left.
I'll be filing taxes this year as single, we'll likely be engaged by the end of the year.
401k is maxed out, backdoor Roth is funded, HSA is funded. My employer contributes pretty close to the max 53k each year so no mega backdoor option. Trying to work my way through which of these to pay off early. I'm not going to deplete my emergency funds, but make enough to where I can use most of that on some large lump sum payments.
There's obviously some tax implications for the home with interest credits, but there's the low hanging fruit of just paying off the car and also getting as much down on that variable student loan rate as possible. Thoughts?