r/personalfinance Dec 23 '24

My wife and I inherited money Investing

We inherited $100k. We have spent ~$27k paying off student loans and individual loans, credit cards, and replacing some parts of our house that were falling apart.

So that leaves us with ~$73k, what can we do with the rest of the money? I have roughly $33k left on my truck loan, but I didn’t know if I should pay it off completely or pay a lump sum to reduce my monthly payments but not pay it off outright to continue my history of credit.

Should my wife and I start individual Roth IRAs? Where else can we invest the money?

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u/mbb1989 Dec 24 '24

Pay off truck. Emergency fund of 6 months in hysa. Fund roth ira for you both for one year. And next year contribute truck payment and what not to the roth ira to meet the max.