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Reply to "If you inherited a million dollars, WWYD?"
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[quote=Anonymous][quote=Anonymous]I'm not seeing as many people who say they would pay off their mortgage as I would expect. Is there a reason? Not a smart idea? I would pay off mortgage (500k), and then split the rest between college and retirement. Fun ways to spend the money would come monthly, since I would have reduced our expenses/amt going to savings by thousands each month. [/quote] My mortgage is at 3.5%. A lot of investors can make a percentage return that exceeds that, which is why they're saying they wouldn't. I don't think I would. I would finally get rid of our last student loan, buy a couple of investment properties, do some updates to our current house, get a convertible, and throw the rest at college and retirement. My husband wants to buy a boat eventually, so we would have to have that fight. [/quote]
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