My wife and I are newlyweds. We currently have 6 months' emergency fund (3 months are currently in a CD, and 3 months in a high-yield savings account.) We are contributing to get the full match in her 401k. I don't have any retirement accounts available at work.
How should we prioritize our extra money each month? Our only debt is ~$14k left on a government student loan at 6.8% interest.
Here are the options I can think of:
- Pay extra towards the student loan
- Increase our emergency fund
- Put money away for a down payment for a house (we hope to buy in 2-3 years)
- Put money in a Roth IRA (my wife's 401k has really high fees and we will definitely be in a higher tax bracket when we retire, so the Roth seems to be the way to go for extra retirement money after we take advantage of the full 401k match)