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The Money Mustache Community
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15Kish windfall - what to do?
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Topic: 15Kish windfall - what to do? (Read 2305 times)
DK
Stubble
Posts: 237
15Kish windfall - what to do?
«
on:
August 10, 2016, 09:39:15 AM »
Probably not go to the casino and put it all on red, right? Any suggestions...seems just popping it in the market might be the best move?
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2Birds1Stone
Walrus Stache
Posts: 7958
Age: 1
Location: Earth
K Thnx Bye
Re: 15Kish windfall - what to do?
«
Reply #1 on:
August 10, 2016, 09:40:26 AM »
Invest it according to your IPS, or if you have any debt @ more than 5% interest...pay it off.
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Catbert
Magnum Stache
Posts: 3324
Location: Southern California
Re: 15Kish windfall - what to do?
«
Reply #2 on:
August 10, 2016, 11:31:14 AM »
Pay off debt >5%, up your 401k contribution, fund an IRA, put in brokerage account. Hard to know which is best without knowing a lot more about your situation. Any of these would be good.
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DK
Stubble
Posts: 237
Re: 15Kish windfall - what to do?
«
Reply #3 on:
August 10, 2016, 12:45:55 PM »
Touche'.
No debt outside of mtg. 4.375%, 27ish yrs left on it. Already maxing 401k, Roth, just opened an individual account. 1 month emergency fund.
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ysette9
Walrus Stache
Posts: 8930
Age: 2020
Location: Bay Area at heart living in the PNW
Re: 15Kish windfall - what to do?
«
Reply #4 on:
August 10, 2016, 01:02:12 PM »
https://www.bogleheads.org/wiki/Managing_a_windfall
I like the Bogleheads wiki personally as a good source of info on all things financial. Happy reading.
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mountains_o_mustaches
Stubble
Posts: 158
Re: 15Kish windfall - what to do?
«
Reply #5 on:
August 10, 2016, 06:10:17 PM »
Treat it like any other type of income - pay off emergency debt, set up a safety fund, and then invest.
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15Kish windfall - what to do?