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Old 03-24-2016, 01:26 PM
Chris T Chris T is offline
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Join Date: Mar 2016
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Default Investing advice

I'm a 40 year old freelancer in the film business. My gross annual income averages $150,000 (though since I'm self-employed, work can be sometimes volatile and inconsistent). My wife and I own a house (purchased for $800,000, 5 years ago. Now estimated worth over $1.3M). We have $590,000 left on the mortgage = 30yr fixed at 4.0%

I have $220,000 in cash savings and $34,000 in 401k. My wife has $19,000 in her 401k. She works for me (i.e. also self-employed).

Currently my cash is in an online savings account(!!), and is gaining a terrible 0.6% interest or thereabouts. Obviously I need to invest it more aggressively.

I was advised by my accountant that if I'm going to invest on the stock market, that I should consider paying off a chunk (say $50k) of our mortgage at the same time (as a way of 'diversifying' our investing by reducing our mortgage burden).

If I were to do that, and also keep about $50,000 in savings (rainy day), that leaves me with $120,000 to invest in the stock market.

I'm considering Robo-investors (Wealthfront, Betterment etc) vs a human financial manager. Can you advise on the pros/cons of robo-investors vs humans, and also the mortgage payoff etc. Thanks!
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Old 05-13-2020, 04:49 PM
John Tollerman John Tollerman is offline
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Join Date: Sep 2016
Posts: 470
Default Re: Investing advice

I will any day of the week suggest to go for Forex to invest in. I find it super cool through FreshForex broker since they got mighty setting with low spreads, over 130 instruments, excellent structure and Rebate program as well, so really works perfectly.
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