Bonus paid for CY2014. After taking care of some delayed maintenance on my vehicle, plan is to plow all the funds against student loans. Hope to see this loan paid off in 2015.
We also set a goal this month to pay off our mortgage in the next five years. With our recent decision to move to one (my) income and have my wife focus full-time on our family it is an aggressive goal. But her recent career move has really influenced her interest in our finances and I would be foolish to underestimate the power of having my amazing wife fully support something that she directly influences every day.
While the finance mind in me is screaming "no, keep that cheap long-term money!!" the heart/soul keeps focusing back on long-term goals for our family in the future. Honestly I can't think of a better way to celebrate turning 40 than knowing that if we had to live on significantly less than my current income we definitely could. Who knows...might be a great time to venture out into my goal of "RE retirement". Still plenty of responsible leverage being used here with our rental properties...so pipe down financial mind!
Projecting debt-to-assets = 55.38%
Primary = 15 year, 2.625% fixed, 14 years left
Rental #1 = 15 year, 3.875% fixed, 13 years remaining
Rental #2 = 30 year, 4.75% fixed, 28 years remaining
Rental #3 = 15 year, 3.875% fixed, 13 years remaining
Rental #4 = 30 year, 5.125% fixed, 25 years remaining
Rental #5 = 15 year, 5.50% 2/1 ARM with caps, 13 years remaining
Rental #6 = 15 year, 4.75% 3 year balloon, 14 years remaining
Legend:
"Stocks" = Vested balance in company stock
"Bonds" = Personal Emergency fund
"Annuities" = Investment Property Savings (minus security deposits)
"Other Assets" = Health Savings Account
"Other Real Estate" = Investment Properties (current market values)
"Other Mortgage" = Investment Property Mortgages
"Other Debts" = Hard money loan for rental property rehab |