Hey Everyone! Thanks upfront for taking the time to read.
I'm trying to be very forward looking - in 3 years its likely I'll start getting a 50k per year bonus for 3 years and 3 years only as part of a retention program. What would be the best use of a temporary 150k dollar influx of cash? Financial situation below.
28 years old, 125k salary per year
Assests: 106k in SoFi stock account - 119k in Roth IRA - 10k cash savings.
Debt: Mortgage - 29 years and 290k remaining - home valued at 336k in a beach neighborhood, value is rising relatively rapidly (10% in the last year). No other outstanding debt.
Expenses: Standard utilities, groceries, and life expenses.
I guess I see my options as being halving my mortgage and refinancing (5.25% rate currently) but I could also just drop the money into a stock and not touch it for another 35 years. I'm certainly no pro at this but I think in the long run maybe the beating the mortgage interest rate in the market might be the move? Would love to hear people's thoughts. Thanks!
original posted by SnooLentils5900 to r/personalfinance on Sat, 02 Mar 2024 16:00:40 GMT.