How does one get credit?

[Jewish Rabbi]

Originally Posted by The God Hypothesis

My base is just under $200k with some bonus potential.

My debt consists of wives daily driver which is 18 months from payoff, but at 0% why pay early? I also owe about $200K on my house that has a 30 year mortgage at 3%, and has about $100K of equity.

Credit rating is around 800, I use my Chase to buy everything and reap the rewards at the end of the year in cash back, but I guarantee the wife and I spend money we wouldn't otherwise if cash based. I pay it off in full; every month without fail.

My question to the CP gurus is what to do next, pay off the 0% car just to get it over with, start paying off the mortgage, or start heavy investing in IRA's, mutual funds, etc...

My 401K is low six figures, have about $60K in stocks, and $75K in my online checking/money-market account.

I'm mid 30's, so I obviously need to get my retirement rolling, but I am at a total loss what to do next due to my low cost of money borrowed. Start heavy debt elimination, or heavy investing? The money in the bank is just losing value, although inflation is non-existent and the feds are taking steps to avoid deflation I hear.

It's a personal preference. With your mortgage rate right at inflation, I wouldn't feel like you need to pay that off. Same goes with the car, no need to pay it off early. Some people just don't feel comfortable holding debt, however.

I would make sure your company match is met in 401(k), then max out a Roth IRA for both you and your wife, max out your 401(k), then put whatever remaining in index funds, in that order.