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Subject:  Any Advice? Date:  1/11/2005  4:26 PM
Author:  JOETAB24 Number:  43973 of 88520

My current financial situation.
Combined Income: 2937.82 monthly after taxes

Checking(0%)- 940.71
Money Market (.35%)- 28,129.10

403b (OPTFX/100$ per month/3.5% of after tax income)- 98.24 (as of 1/7)

Discover- 115.81
Car Loan- 12933.10 (1.9%/60 mos.)

considering establishing Roth IRA ASAP
would like to increase % in 403 b (just started)

wife will stop working in June. will stay home to raise new baby.our income will decrease $840.
-I am a teacher so my pay will increase next Sept. (by 4%? contract is up).
-When I earn my masters, I will get close to an additional $5000 increase. I currently have 18 credits and need 33. I will "max out" in 11 years at 85K (in today's dollars)
-we are in a "starter home." bought in 02 for 90K. It would probably go for 127-130 K today. our current school district is mediocre but has a good repuation. we are on the finge of the city and concerned about the neighborhood going down rapidly; some parts already have. I would like to sell but know we cannot at this point.

I am considering paying off the car and using the $266 from the car to start paying down the house. Is this the best way to use the inheritance? What other options do I have, considering all of the factors and the new baby? Thanks for reading.

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