Dual Mil Couple - Question on optimal saving/investing location following upcoming promotion
So I am trying to plan ahead for an optimal financial decision with my (30M) upcoming promotion to O3 in August. My wife (26F) is an O1. After promotion, I plan to set our TSP percentages to max TSPs. I am torn between placing additional savings in a taxable brokerage account or a HYSA. I would like to start investing in a taxable brokerage to build a gap fund to bridge to retirement age. I would also like to have enough funds in a HYSA to pay cash for a vehicle should our family grow to 2-3 kids within the next 5-6 years. Assuming we have an extra $1500/mo to save or invest, is it better to put that into a taxable brokerage account or HYSA? Here is some additional info for context:
TSPS (both): 103k
IRAs (both) 103k
HYSA: 40k
- First child expected beginning of next year.
- Wife will promote to O3 next year (skips O2 in medical corps)
To restate my question, where is the best place to additional funds after maxing retirement accounts that has the flexibility for future big expenses (e.g. car purchase)? Open to any other financial advice for dual mil couple as well. Thanks!