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Western OK | Just put it in a taxable brokerage account, that way if you want to use it you can take it out without penalty, or you can use it as collateral to borrow against.
Pay the taxes now while you still have your tax deductions[kids] at home.
1. 401k- get the match
2. Hsa- if you're medical plan allows it, max it out
3 Roth ira- fill one up for you and one for your wife
4 taxable brokerage act- I do 50% in a treasury fund making 4.5% and 50% in a total stock market index etf, itot , don't pay much for divided but very low fee and taxes
I personally don't do the Roth Ira, I do 1,2, and 4. I got enough tied up in 401k that I can't touch until 59.5.
I build up my land payment in the treasury fund as the year goes by, making interest until I need it.
As far as kids college, I'm still a few years from that, but my current plan is for them to have to do it themselves, then after they graduate pay them a lump sum figure out of the brokerage act. If they want to prick around, or go a few years and quit, that's on there dime. If they work hard, take care of business, and complete college then like I said I'll give them a lump sum of some kind as a reward.
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Retirement/ investing
