What do to with 150K?

[wincrasher]

I'm self-employed and getting a mortgage was no picnic - even with 20% down.

To consider buying at the price level you are talking - you will need to show after tax income for 2 years near the 200k level.

Most everyone working on a salary gets the benefit of using thier gross salary in the calculation. Us self-employed do not.

Also, total debt payments must not exceed 41% of your adjusted gross.

Roomates, I believe, cannot be calculated in as income for getting your mortage.

[puck36]

If I had $150k, I would work the baby steps. At this point I would pay off my house $86k. Then I would add another $20k to my FFEF. The rest of the money I would save for a car or a vacation.

[m3racer]

SEP-IRA is a must for you. Especially in CA where state taxes + federal taxes= insanity.