In addition to our savings goals, we have some other financial goals for 2011.
First, we need a new accountant. After last year's IRS audit and the related fiasco with the accountant we obviously have no faith in his guidance or tax preparation services. I've got two recommendations and plan to set up meetings.
Second, I've got an old 401k that needs to be rolled over. That should be an easy one to take care of, but it has been on my to do list for 6 months.
Third, I'd like to get our debt under $600,000 in 2011. At present we have @$613,000 in debt, which is all mortgage debt for our primary home and for our investment properties. We plan to prepay principal in the amount of $5,000 towards our primary home mortgage (see savings goals), and with that extra prepayment we should be under $600,000 by the end of the year.
Just curious to know the interest rate of your mortgage debt, and why you choose to prepay that rather than invest in stock or more real estate.
ReplyDeleteKeep up the good work!
JKC