"Interest rates? Is mortgage deductible? Any prepayment penalties?..."Interest rate great and deductible? no Prepayment penalty. We are deciding how much to add each month to pay off early."If you lost your job for a year and had to do major home repair and replace a car?..."Enough savings ... meant we already have set aside six months of emergency funds."Because low-balance accounts typically have higher fees and fewer investment options, it's usually better to stick all your contributions in one IRA at least until your balance is $10,000 or $20,000...."The place I'm looking at has numerous options and no "extra" fees. It'll take only four years to reach 20K in whatever IRA chosen."Your decision on whether traditional vs. Roth should be based on your marginal tax rate now vs. your projected marginal tax rate when you retire ...."I believe our rate now is 27%? No idea of what it might be. We stand to inherit some money in approx ten years."Your job offers no retirement plan? Are you self-employed?.... "Approx 80% of local jobs offer no retirement plans or health benefits.Spouse has a pension, for now, who knows what will happen later. We are maxing out 401K plan. My IRA will be a supplement to those.My income comes from part time contract work and varies greatly.
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