Hey guys,
Long time r/personalfinance follower but created a new account because you all have taught me not to let people know that I have money.
My husband died. He was murdered in our house. As his wife, it appears I will be getting around 900k in various life insurance and accidental death policies. What do I do with that kind of money??Banks can't insure that kind of money.
We were just renting our house, but I cannot live there ever again. I was thinking about buying something small? Him and I were actively looking for our first home together and I think he would like me to have a house instead of an overpriced apartment. In my market, I could get a good house for about 350k - would it be wise to pay cash for the whole thing? Or a large down payment? I know I am not to make a major decision like a house right now, but I do need start considering where I will live. The only debt I have is about 50k in student loans.
This is more money than I ever thought I would see. My husband and I would joke about why can't some long lost relative die so we can put 20% down on a house to avoid the mortgage insurance....and suddenly I can afford 2 houses cash...it's weird.
I will probably contact a financial advisor of some sort?
I was just hoping you guys could give me some things to look into or consider in the meantime. Nothing has hit my account yet.
Submitted April 19, 2018 at 07:41PM by Birdquestionmark https://ift.tt/2vt9VqR
