Goal: Do the smartest things with the money.
This windfall is from a medical payout where husband was hit by a car. He has scarring and some positions (like sitting straight on the ground) seem to be off the table but is otherwise currently running 9-15 miles a week. So short term is looking great. I assume this will be something that bothers him 10-20 years from now.
Mortgage debt of 29k (3.5% interest) but no other debt. My 401k will be maxed a month from now irregardless of this money. I front loaded my IRA earlier in the year. Husband is giving significant funds to his HSA and is getting his match from his 401k. I already have 5 digits in my bank account that I was wondering if it was too much to be sitting on, and husband keeps a solid 4 digits in his since the last payout. Between chubby bank accounts and a credit card with a 20k limit, I feel an E fund is covered.
Things I've thought of doing with it:
-pay off the rest of the mortgage (the interest is so low, but it would be kinda freeing to declare Debt Free with no Asterisk)
-Stocks ( but aren't we in a boom that is about to bust or something?)
- Hawaii trip next year we would have been able to fund anyway
-pay pro's to finish up our fixer upper home we've worked two years so far on. In that same vein, I probably need a new roof and the furnace/water heater is 10+ years old
- college (I've been thinking of getting a bachelors in something else but money has been a big deterrent)
something I'm not thinking of? Should there be other questions I ask myself?