Reply to Best use for 1.6 million inheritance

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Late 40s with such low retirement? I would invest it for retirement, OP.

This assumes that you can carry college costs solely on your income, as you've suggested.

I wouldn't pay down the house, unless you cannot cover college tuition and private school with your income. Of course this all depends on your mortgage rate, compared to rate of return you might get by buying at a low in the stock market. Expectations are that the stock market will hit hit bottom 3 to 6 months into the war in Ukraine, but we're not there yet, and there's a stagflation/recession looming for next year, so, the usual rule of thumb applies: don't try to time the market exactly, start buying solid company stocks if they've tumbled significantly from their 52 week high.

[/quote]

Seriously, only DCUrban would consider that low![/quote]

I mean, 2.8m with an average 7% annual rate of return would be 5.6m by their late 50s with no further contributions![/quote]

Time to move into a basement apartment in the far out exurbs and eat only Aldi rice and beans![/quote]

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