Ask Paula: What to Do with a Six-Figure Windfall?
Afford Anything
Navigating Financial Priorities with a Windfall
Prioritize financial goals by creating a timeline to understand the interrelationships and the steps needed to achieve them. Investing a windfall in a mortgage might not be the best option without clarity on the overall financial goals. Instead of using the windfall to pay off a mortgage, it may be more beneficial to allocate the money towards goals with higher priority and impact, as putting it in the house might restrict liquidity and overall financial growth.
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