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Reply to "What to do with an extra $750K?"
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[quote=Anonymous]I would do the addition first (and plan for it to cost more than you estimate). There's no use making this kind of money if you aren't doing something to enjoy it, and the addition provides both enjoyment for your family on a daily basis and supports practical concerns like having more space. I wouldn't pay off my loans with the remainder; you already have a good interest rate and if you are already getting by with the monthly payments, why not leave them for the time being. Instead, I would put $10K in each kids college account, put 75% of the remainder in low risk mutual funds, and put the 25% in an emergency fund. BTW, this is morbid, but if you or your husband die, your respective student loans are absolved. Wouldn't it be awful if you or he paid $50K to get it paid off early, then one of you died in 10-15 years and you could have had that money go to your kids? You will make more putting the money into investments than paying off the loans.[/quote]
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