I’m having a hard time deciding on whether to throw extra money in the market monthly or pay off my “van” it’s a van conversion owe 61k at 5.4 interest. I’m 39f with a 220k a year income with 20k into a sep and max my backdoor Roth. This is the first year I will actually have extra money. I probably have 100k in retirement alone and then 60k in hys and another 200k in the market (these 200k are kind of joint funds with the husband).
Husband covers mortgage and insurance and I pay utilities and groceries and house stuff.
I can reason with myself either way pay off the van then if shit hits the fan (I’m self employed) then I’m not worried about needing to make money.
But if I invest it, it will grow and if shit hits the fan I will have a bigger investment portfolio and can still be ok …..
I’m self employed yes but very steady and income shouldn’t be dipping really unless my health declines which isn’t unreasonable.
Is this just personal preference on what to do?? I’d like to make a more educated decision and feel confident in my “plan”