conversation: User (DrWhoverse): "Husband 36, me 31.\n\n\nCurrent balances:\n\nmy checking: $56,000\n\nmy savings: $26,000 (at 0.15%)\n\nhusband's checking: $20,000\n\n\nOther funds:\n\nWe each have a Roth IRA that we contribute the max $5500 each every year. We also have 401k retirement accounts, plus some other investment accounts we're using for retirement. All that is sitting at about $375,000.\n\n\nI also have a mutual fund investment account at about $57,000. \n\n\n\n\nI know the money I've got in my checking and savings accounts aren't earning me anything- I just can't decide how much of it I should be moving out and where it should be going. "
  Self: "The amount of money you should have in checking and savings accounts is an emergency fund of 3-6 month's expenses, plus any savings for specific fairly short term (less than 5 years) goals, such as, vacations, next car, house downpayment, etc.\n\nIf you have more than this in checking and savings accounts, you should move some to investments with a higher expected rate of return.\n\nIn your case, boosting your husband's 401k contributions towards the maximum of $18k/yr, would probably be your best investment of extra funds.  The mutual fund investment account would probably be the second best bet.\n\nGood luck."
  User (DrWhoverse): "is it $18k/yr for each of us or combined? Is the amount we contribute to our Roth IRAs counted towards that amount as well?"
  sarajoy12345 (sarajoy12345): "Each of you can put up to $18K in your workplace plan, and I would recommend doing so.\n\nRoth IRA contribution limits are separate and are $5,500 each/year.\n\nOnce you have taken care of raising your 401K contributions, I would move the excess in your checking to your mutual fund investments."
  