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Reply to "Question about managing a large amount of money "
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[quote=Anonymous]I recently came into some money....more than I have ever had and it's a little overwhelming. I really want to be smart about it and not waste it. Some background: I'm a disabled single mom, I own a townhome but have only made a small dent in the mortgage. The money would be enough to buy a nicer but still small townhouse and pay it off completely but then I would still struggle with my regular expenses plus the property taxes and repairs and things that may come up. what I would like to do is spread it out over time and sort of have a set amount each week as an allowance/salary to improve our quality of living. This will allow me to out my kids in extra curricular activities for instance and not live on such a tight budget. Is there a certain type of account I need to set up? How would I go about this? Do you have any other ideas as to how to best invest or make use of this money?[/quote]
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