Greetings good people,
I just sold an out of state rental property and now deciding where to put the cash ($50k; separate from below $); I am thinking VTSAX taxed account. My knowledge level with all of this is somewhere around beginner, so trying to take the simple & safe approach. Would greatly appreciate thoughts on VTSAX vs other options given my info below.
Much thanks.
Emergency funds: Yes (cash below)
Debt: Only rental property mortgage below
Tax filing status: Single (no dependents)
Federal tax rate: 24%
State tax rate: 0%
State of Residence: Washington State
Age: 47
Housing: currently renting
W-2 income: $135,000 (will likely decrease in coming years due to nature of work)
401 (k): $43,000
FFIZZ Fidelity Freedom Index 2040 Fund Institutional Premium Class
Will max out in 2024
HSA: $11,000
FSKAX Fidelity Total Market Index Fund
Maxed out for 2024
Roth IRA: $28,000
VFORX Vanguard Target Retirement 2040 Fund
Maxed out for 2024
CD Account (1 yr @ 4.5%): $137,000
Cash savings accounts (credit union): $62,000
Rental property duplex:
Purchase price : $265,000
Current value: $630,000
Balance $126,000
Cash flow/month: $1000
Remote raw land:
Value: $20,000
Balance: 0
I just sold an out of state rental property and now deciding where to put the cash ($50k; separate from below $); I am thinking VTSAX taxed account. My knowledge level with all of this is somewhere around beginner, so trying to take the simple & safe approach. Would greatly appreciate thoughts on VTSAX vs other options given my info below.
Much thanks.
Emergency funds: Yes (cash below)
Debt: Only rental property mortgage below
Tax filing status: Single (no dependents)
Federal tax rate: 24%
State tax rate: 0%
State of Residence: Washington State
Age: 47
Housing: currently renting
W-2 income: $135,000 (will likely decrease in coming years due to nature of work)
401 (k): $43,000
FFIZZ Fidelity Freedom Index 2040 Fund Institutional Premium Class
Will max out in 2024
HSA: $11,000
FSKAX Fidelity Total Market Index Fund
Maxed out for 2024
Roth IRA: $28,000
VFORX Vanguard Target Retirement 2040 Fund
Maxed out for 2024
CD Account (1 yr @ 4.5%): $137,000
Cash savings accounts (credit union): $62,000
Rental property duplex:
Purchase price : $265,000
Current value: $630,000
Balance $126,000
Cash flow/month: $1000
Remote raw land:
Value: $20,000
Balance: 0
Statistics: Posted by Flydog — Sat May 04, 2024 12:04 am