I am looking for advice on what to do with some extra money I have. Currently, I have about $23k in my savings account, gradually increasing. I am (currently) employed, making good salary ($70k/yr), but I don't receive 401k until a year of employment. Car is paid off, student loans payed off, only bills are mortgage payments, cell phone bills, other small things. I don't really find myself spending much on anything besides food. My wife still owes a total $13K on car and student loans. I might also mention I have about $80k in a low risk CD portfolio that I admit I don't know much about, I just intend to let the money sit as I don't need it. I am thinking of going back to school, as I don't much like my current career. I am 23 yrs old, if that is important.
- Should I pay off wife's loans with my money?
- Should I look into other investments (Roth IRA, etc?)
- Should I hold on to the money in case I decide to go back to school?
- Is it important to do something with the money in savings since I already have the portfolio?
Right now I feel as though it is just sitting, and while it is nice to have for 'just in case', I feel perhaps I could utilize it better.