FIL passed away - Financial advice?

Hatorade

Hatorade

A nice asshole.
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Kithani said:
Everyone always says they will pay off the mortgage and then invest the extra cashflow but very few people ever actually do that they often end up with lifestyle creep.

Throw it all into VTI tomorrow or DCA it in over the next year if you really want to and leave the remainder in VMFXX while you do.

If your household income is near 300-600k+ then feel free to take more risks I guess
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Life style creep is definitely a thing, I looked around a couple years ago and told they wife we need to stop buying things or we will need a bigger house. Ended up reigning it in, selling some stuff and keeping with the plan.
 
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TomServo

TomServo

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OU Ariakas said:
I want to stop and make sure that the two of you remind yourselves that this is a life blessing from her father and a gift that is not wasted no matter which way the two of you choose. Do not take this thing that he worked his whole life to enrich his children past when he would see the results into a point of contention between you. Ultimately, it was her father so she (as a woman) is going to feel like her decision should carry more weight, right or wrong. If you pay off the house and that is less stress monthly or you invest it and that is less stress thinking about retirement; either way it is a gift that 90%+ of people will never receive.

Great men plant trees whose shade they know they shall never sit in.
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it's her call. period. pay the house off if she wants. so what if it gains 3 to 7 percent more in a semi safe investment. it ain't the end of the world.
 
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Fogel

Fogel

Mr. Poopybutthole
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Tide27 said:
we will spend about $900k for a $300k house.
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Another thing to take into account is you're looking at future interest paid and the current asset price. What will that house be worth at the end of the mortgage life and does that make it easier to sway you to invest instead of pay off the mortgage.

Here's average house price increase over 30 years which just about cancels out your interest rate

YoY growth data is updated quarterly, available from Mar 1992 to Dec 2024, with an average growth rate of 5.4%
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T

Tide27

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Just way to say thank you for everyone's knowledge and perspective on this, as this is not something that happens except once, maybe twice in our lifetimes.

Losing a parent sucks, and a void will certainly be created in our lives. I'm just thankful that my wife and her brother are amicable with things and both wants what's best for all involved. I went through a similar situation with my parents, however there were a ton of people with their claws out thst didn't care a single bit about the loss...just what they could gain financially.

A close family friend managed to find a way to convince my mom to sign every single thing over to them for " safe keeping ", as she started to deteriorate. Once she passed away, the entire family came out of the woodwork...only to find she had be conned out of everything.

It was so brutal and ugly that my mom's passing was never really given a proper mourning period, and everyone ended up hating one another.
 
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