Should I Change My 401k Investment Strategy?
52 year old male. Wife is 46. We have around 2 million invested. Approximately 75% in our 401K.
Due to a career change, my wife's salary has gone up dramatically. She is now a 1099 employee and thus she can invest 70K in employer and employee 401k. This year is the first year we are getting to 70K for her. I get to around 75% of maxing out my regular 401k. We have done back door Roth IRA's the last few years. I have about 320K left on my mortgage and I try to pay two extra payments a year. I put money into a 529 each month. My wife currently has 80K in her business account. Money is sent to us each month from this account but her account increases each month because she takes home more pay. We pay off our balances of credit cards each month and enjoy 2-3 vacations per year.
Before this job change, I have always tried to just stash money in my 401K and play the long game. My wife was wondering if it is better to use this 70K in different ways. She brought up real estate but it is something I am not comfortable doing at this time. Would you recommend keep on putting as much as possible in the 401K or use the money in different ways?
Thank you
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