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Reply to "Tell me what to do with a $120,000 unexpected windfall"
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[quote=Anonymous]My plan for this money: In the next 1-2 years, I may pull out $20,000-$25,000 to buy a car. In 10ish years, I may use some of it to pay for my kids college expenses (2 kids, their grandmother has started 529s for them at birth and continuously funds them, so they might not need my help). If my kids don't need it for college, I'm not sure how I'll use it. Other details: married, both in early 40s, about $1 million in 401k savings, mortgage left on house is about $200,000 and 17 more years, very low interest. The house is also potentially income generating (we can rent out a nice 2-bedroom apartment within our house in DC once the kids leave for college, as we did before we had kids). So, I'm not too worried about retirement, between savings and rental income. Where should I put this money? I don't want it to be that accessible so I'm not tempted to spend it down. [/quote]
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