Hi,

I am a 47M who recently divorced a few years ago, which wrecked my savings. I have a consulting business an recently got a lucrative contract that raised my income significantly, to $500k/year. The contract ends at the end of 2025 and given some uncertainty about the state of the law in this area, there is no guarantee that I will be able to get other business that generates that same amount of revenue. I think I could reliably count on earning at least $200k a year on my business in perpetuity.

I recently bought a house (I have two kids with 50% custody, 10 and 8) and owe $600k at 6.35%. I have $500k in retirement accounts and about $300k in stock indices in a brokerage account.

I will max my retirement contributions every year. Given my high income for the next few years, should I focus on using all extra money on paying off the house or building more index investments in the brokerage account? Like I said, my income is variable and may not stay at this level after 2025.

Thanks.