I think the tax consequences for someone who earns $210,000 needs to be addressed first and foremost, or at least, it needs to be examined just as rigorously as debt interest rates vs. investment interest rates. People who make less than that might not understand how important tax planning is for income like that.
Jim_Ohio has done a great job of laying out a plan for the OP. Thanks Jim!
In general, I think that <generic famous person>'s plan is great for people who are at their wits end, followers, risk intolerant, or not able to dig through all the details for themselves. Or that is the only way to get their spouse to agree. Once you are past the basics, though, you need to think for yourself and figure out what is best for you, not just blindly follow someone, no matter who it is.
|