The Money Mustache Community

Learning, Sharing, and Teaching => Ask a Mustachian => Topic started by: DK on August 10, 2016, 09:39:15 AM

Title: 15Kish windfall - what to do?
Post by: DK 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?

Title: Re: 15Kish windfall - what to do?
Post by: 2Birds1Stone 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.

Title: Re: 15Kish windfall - what to do?
Post by: Catbert 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.

Title: Re: 15Kish windfall - what to do?
Post by: DK 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.

Title: Re: 15Kish windfall - what to do?
Post by: ysette9 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.

Title: Re: 15Kish windfall - what to do?
Post by: mountains_o_mustaches 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.