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<<<I have maxed out my 401(k) and don't know where to invest next. I make about $95 - 96k a year. I have 2 mutual funds outside my 401(k), but that's it (except for an IRA my wife has from a 401(k) rollover).>>>

I would invest in Roth IRAs for yourself and spouse first. Max out 401(k) to company match. Pay off outstanding debt. Establish emergency money fund in cash. Avoid having margin "loans" for such. You can dig yourself a hole that charges you interest. Consider paying off mortgage. Some will argue that the interest is a tax write off, but interest paid is money lost. Even if you write off the interest, the tax deduction is only what your tax bracket is, i.e., if you're in the 28% bracket, every $100 dollars in interest give a $28 write off. You still loose $72!!! After that, taxable equity accounts.

<<<Also, how much cash (money market) should I have on hand at any one time?>>>

If you have a stable job or have skills that allow you to find quick employement, about 3 months living expenses. Otherwise, about 6 months.

JLC

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