cash - for IRA, college, mortage, etc

We have some "investments" that we need to fund, and was wondering what order makes the most sense. We have cash in some money markets, CD's, and even static savings/checking accounts along with all our current mutual fund & security investments...

Anyway - here's the list of items that need some cash infusion: IRA 2008 - $6,000 x 2 = $12,000 yearly input college 529 - $5,000-$10,000 yearly input mortage - only have $60k left to payoff.

None are really required, and the time horizons don't really matter that much, except for the college.... maybe 1 or 2 years away - depending upon foreign travel.

SO - what order & how much to each line item ?

Reply to
ps56k
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Not enough info for a good answer. My general answers are the following:

1) fund retirement first. If 12k is less than 15% of your gross income, you should probably be setting aside more for retirement in taxable accounts, 401ks or similar. 2) Pay off mortgage and save for retirement before funding kids college. The 6k IRA suggests to me you are close to retirement (that includes 1k for catch up contribution-right?) 3) fund 529s only to extent you need a state tax deduction- if you can pay off mortgage before putting money aside for college, I think your financial picture will have less risk, and also possibly open up more favorable tax deductions (at federal level) the years you need to pay tuition.

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Reply to
jIM

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