Investing after a home sale. Where to put the proceeds?

[Newtosavage]

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so, in what form is that emergency fund?

 

[Newtosavage]

So that really means to make it worth it in this scenario you need to gross 7% or more to make it worthwhile.


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And that's going to be hard to do over the short term, knowing no more about investing than I do.

 

[Newtosavage]

Talked with the wife some more, and we think we have about $20K we want to spend on house remodel/improvements, and once those are done and we are happy, the rest will go toward the principal on the house. That should get us 100% debt-free 1-2 years before we retire, with a retirement income that's about 80% replacement. If we can't live comfortably on that, we're idiots. LOL

 

[Farmingdale's Finest]

And that's going to be hard to do over the short term, knowing no more about investing than I do.

You sound like you are in an enviable place but need some advice based upon your specific situation. That includes your income, debt. short and long term goals, what your looking for from an advisor and your risk tolerance to name just a few things.

I am a financial advisor but I can’t advice you what to do without knowing a while lot more about you. It’s both unethical and illegal.


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[Newtosavage]

You sound like you are in an enviable place but need some advice based upon your specific situation. That includes your income, debt. short and long term goals, what your looking for from an advisor and your risk tolerance to name just a few things.

I am a financial advisor but I can’t advice you what to do without knowing a while lot more about you. It’s both unethical and illegal.


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We know a few financial advisors, and one that specializes in the career field my wife is in, so that's our next step. But I have learned a lot here for sure, and love hearing the ideas.

 

[Qchunter]

Listen to a few of the Dave Ramsey Podcasts. Follow the simple steps and get debt free ASAP.
3-6 months of expenses as emergency fund and pay off all debt. Retirement/savings will grow quickly after the house is paid off.
I personally would not take out any lines of credit, it’s too easy to use and can suck you into debt.

 

[Ching]

I would seek out a financial advisor. There is other personal sensitive information that you do not want to share on the Internet forum that should be considered in making these decisions.

 

[Where's Bruce?]

Asking strangers on the internet how to invest your money is like asking Whoopie Goldberg how Trump can help America. No educated investor will place all the eggs in the same basket...diversification between real estate, precious medals, stocks, and other portfolio options should be determined with a financial advisor and your accountant present. Plus you need to be aware when to dump one thing in order to jump on another. I dumped some stock in favor of physical gold and especially silver some years back and boy am I glad I did. Learn to minimize your tax liability and maximize your liquidity if/when necessary. Not everyone has an informed opinion and common sense is not common enough.

 

[GotDraw?]

I spent a career as a financial advisor-- at the biggest firms,

Never had one client that was unhappy when they either paid cash for a house or paid it off early.

End of story.

Forget all the other ways to "maximize" return, etc, etc. Forget all the tax analysis and optimization...

"KISS" method. Just do it.

JL

 

[FLAK]

Gotdraw nailed it.
'bout to pay mine off.
Finally, @ 54 y/o.

 

[GotDraw?]

Gotdraw nailed it.
'bout to pay mine off.
Finally, @ 54 y/o.

Hearty and heartfelt congratulations!
JL

 

[Htm84]

One word, pumpkins. The price has been climbing all month. I got a feeling they’re gonna peak right around January.

 

[AngelaDavies]

I'm not a specialist but I guess that the smartest decision will be to invest this money in a house. No matter whether you have already one. You can buy it and give it for rent it is a monthly income. Think about the area where you are living and how much have you paid for that rent when you were a student. I have a friend who was in pretty the same situation and he found a Mortgage Advice London and with their experience and advice he bought a house. He needed to invest a big amount from the beginning but at the same time, he bought a gorgeous house in London. So think about it!

 

[Beendare]

Beware of the mentality to let that money burn a hole in your pocket.

You can out earn your mortgage rate pretty easily....but you have to be comfortable with doing that as with any investment there is some risk. In a few years you will probably be able to do it in Treasuries.

My prediction; Locking in a low rate mortgage right now will seem like a absolute genius move in another few years with the current admin accelerating inflation.

Good advice to keep a cushion for emergencies...beyond that do what you feel most comfortable doing...but there is no hurry.

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