I am 35, father of two little girls(4yrs/3months), and my wife just passed away from her battle with cancer. She died march 16th so I still don't have the clearest mind, and am a bit overwhelmed with the situation. Our life insurance is $250k. I have in my mind that I would pay off the mortgage($85k),start a trust fund for my daughters(which I know very little about), and also maybe start Roth IRA's for each of them. All I have is a mortgage and utilities. No car payments. I am smart with money as far as purchases and simple saving but I don't know a lot about investing. With our savings account and the the few thousand from my wife's 401k I have about $52k. Once I receive her life insurance I will have a little over $300k before I do anything. I have been and continue to try and educate myself on how to invest, but I am just overwhelmed with all of the information on the interwebs and also with the recent situation of her passing. I want to do the best thing for my little girls. I'm just looking for some advise about some good options for me. What would your plan of action be if you were in my shoes? I never in my life thought I would be in these shoes, but here I stand. Thanks in advance for any help.
Submitted March 27, 2017 at 06:11AM by man_of_the_house http://ift.tt/2onsrsq
