I am considering options on what to do with the proceeds from selling our current home.
- Put it in a low-interest savings account. Add to it and then pay off the mortgage in full once it is large enough.
- Invest it in some type of bond fund and pay off the mortgage over time.
- Take on some additional risk and invest in something like Wellesley and pay off the mortgage over time.
- Some other option?
- The new mortgage will be our only debt.
- Excluding the cash from the sale of our current home, we have a stock portfolio equal to 125% of the mortgage balance spread out evenly over ROTH, 401K, IRA, and taxable accounts.
- We are 55/57. I have a secure, high-paying job and decent work-life balance.
- Annual expenses apart from the new mortgage are 25% of take home pay.
- Annual expenses with the new mortgage are 37% of take home pay.
I'm open to suggestions.
Thanks,
Aim High