Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It might make more sense to put it into a high interest savings account for now.

Klang?


Which one? Never had one

There are probably about 5 people here who get this, but it's hilarious.

You found no. 3.

Anonymous wrote:

Anonymous wrote:How much is the inheritance? That $150k mortgage is so low if he inclined to just pay it off and put the rest in fdic insurers accounts at 5%

This. I don't care what the interest rate is. The balance is low enough that you should just wipe it out and be rid of the bank forever.

Why do you hate math?

Anonymous wrote:

Anonymous wrote:It might make more sense to put it into a high interest savings account for now.

Klang?


Which one? Never had one

There are probably about 5 people here who get this, but it's hilarious.

I inherited $144K last year. Kept it in mutual funds.

Put it in JEPI. It will make a reliable 5-10% return via monthly dividends. And will likely be even higher if this sideways market continues.

Anonymous wrote:I am receiving an inheritance and am trying to figure out what to do with the money.

Does it make sense to pay off current mortgage? There is a possibility that I might move in 3-5 years, so if I save/invest, I’d need to have access to it quickly. What would you do?

The r/personalfinance flowchart from reddit is always a good place to start


https://i.imgur.com/lSoUQr2.png

But yeah, mathematically it doesn't make sense to pay off your 3% mortgage. We'd have to know a lot more about your financial picture and goals for anyone to provide a good answer but putting the money in a HYSA earning 4% is a good place to start while you figure it out.

Anonymous wrote:How much is the inheritance? That $150k mortgage is so low if he inclined to just pay it off and put the rest in fdic insurers accounts at 5%

This. I don't care what the interest rate is. The balance is low enough that you should just wipe it out and be rid of the bank forever.