38 Lawyer, Married. No Kids. Am I saving enough? Is there something else I should be doing with my money?
Hi all,
I am 38 year old lawyer. I make about $100K a year. My wife is also a lawyer and she makes I think around $115 a year.
I am not much a money guy and have never been very intentional about what I do with my money. Want to know if there is something else I should be doing to put myself in the best possible position down the road.
Right now I have about $33,000 in a checking account and another $1,352 in a savings account (2.50 APY).
I also have about $22,177 in a Robinhood account (This is all invested in SPY index funds for about the past 5 years and I have had about an 11% return on them).
I also have 403b with about $41,000 in it. I contribute 10% of each paycheck to that account and my employer matches up to 6%. That's all vested.
I bought a house in 2020 for about $160k. Zillow now estimates it worth about $290K. I owe about $134,218 left on the house.
I have about 200k in student loans but I have worked as a public defender for the past 9 years and am hoping to get PSSLF when I reach my 10 years of service.
My expenses are pretty low.
Any advice on what I should be doing? Should I move more money into index funds? I seem to have gotten pretty good returns on them so far.
I feel like I have a large amount of money sitting in my checking not doing anything and am worried I should be more aggressive.
Any advice would greatly appreciated!