My wife will be receiving an inheritance in the amount of 100k USD. We’re both employed making 150k annually. We owe 158k on the house (4.25% interest rate). We have 7k in credit card debt (0 percent interest rate until next year). And we owe 11k(4%interest rate) on one car and 29k (5.5%interest rate) on the other. She has around 80k in her 401k and I have about 30k in my 401k.
What should we do with the inheritance? Invest? Pay down the house? Pay off the cars? We just want to do the smartest thing we can with this inheritance and put ourselves in a good position.
original posted by Stardewismyname to r/personalfinance on Tue, 02 Apr 2024 15:56:18 GMT.