Inheritance
I may have about 35k from a very kind Aunt. My Mortgage is about 59k 5.90% car loan 22k 5.84%.
Pay off most of condo? Or car? not sure which would be best decison.
Thank you love your participation and common sense on WGN
Terry Says
Let me add a third alternative. Do you have any retirement savings? I don’t know your age or financial circumstances, or if you’re working. But if your income drops are, consider putting $7000 in an IRA. If your income drops do it by April 15, you’ll get a tax deduction for 2025. Just call Fidelity or Vanguard and they will help you open the account and invest it in a S&P 500 stock index fund.
You’re fortunate to have such low interest rate debt. So I’d keep some in the bank for liquidity, and chip away at the car loan.
