We have saved some money over the time. We also bought home few years back and have 2 school going kids. Wondering if it is good idea to pay mortgage or invest. We have $150k in our individual IRA accounts and another 25k in 401k. In bank, we have total $150k balance in our bank accounts. Getting 2.5% interest on 100k balance with reward checking accounts. House mortgage is around $250k (House is probably $500k worth).
We are saving decent money from our earnings. But our problem is not making any money from the saved money. Is it good idea to pay up mortgage. I have refinanced it to 15 year mortgage with 2.75% interest. I need to start learning about investing and doing it myself. Any guidance is appreciated. My age is 40+. Not sure if it is too late to invest and build wealth. We have some fixed assets in another country which are illiquid and not completely in our control (managed by in laws and parents). Probably, that is where i am going to spend after my retirement. My immediate concern is to make some money out of our savings and retirements accounts.