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Apologies for my assumptions...but my guess is that you are retired, and your wife is a bit younger and will still be working for a few more years.
At this point...if you have something left on a mortgage - pay off as much as you can (hopefully all of it) while still leaving you with something. Then pay down as much as you can on any higher interest accounts (credit cards, et al), as these truly suck dollars away needlessly.
Hopefully you will still be able to sock something away (30 to 50K?) for emergencies. Anything left after this? Your choice...a few stocks very low right now if you want to gamble. Do an upgrade to your dwelling that you've been putting off, but which will hopefully add some value. Anything left after this? Be creative! Fix up your favorite ride...plan a great trip...etc.
My guess also is that I don't have quite the amount of liquidity as you...I am recently retired and my wife still works as a nurse practitioner. When I recently received a long-awaited, long past due divorce settlement, I put most of this into what was left of our home mortgage, and paid down as much as possible on interest heavy accounts.
Money left over has gone into a large DIY v-groove ceiling installation (nearly completed), and a partial tear down and rebuild of my 1987 944. On top of this...we've carefully socked away as much as possible towards our health savings account.
The 401K? My wife still contributes the maximum allowable amount to hers...although to be honest its been a bit nerve-wracking to even open the statement envelopes lately! A bit of cash rolled up in the mattress might actually make some sense these days!
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