I max out 401k, HSA, and FSA each year. I have enough in HSA to cover maximum out of pocket deductible for 3 years. And it’s invested inside the account (although not in anything sexy / high yield because they limit what you can pick).
Am I correct in thinking I should keep throwing money in here? Because no return is going to match 32% tax rate?
Or should I dial back my contributions and do something else with it?
I paid off all debt last year. Only thing I have is a mortgage which is @ 3.25. I’m at ~70% LTPP and ~ 55% LTV. Hard to justify throwing more there.
Married w/kids. Mid 30s. $350k retirement and ~$60k non retirement investments (stocks).
I’m out of ideas on ways to minimize taxes and what to do with my money.
If the market wasn’t so crazy I’d buy rental properties. But I’m not going to pay these insane prices. Schedule C send advantageous for taxes.
I don’t want to put any more in the stock market. I feel like a correction has to come.
And obviously savings or CDs pay nothing (I remember the glory days of the mid-late 2000s getting decent CD rates.)
Where I can, I’m holding things for LTCG, but most of my money gets taxed out the ass. Tax bill for my wife and I this year (federal & state) over $100k, 25% of our gross income. Hurts my soul.
1) Anything Im missing on the tax front?
2) What should I do with my money?