My grandmother just past away and I am inheriting 10,000$. I want to use it to pay of debt specifically a student and car loan. I owe about 4000$ on each loan and paying 200$ each a month. So there would still be about 2000$ to save, pay bills, or spend on something else. I would also have 400$ a month in my pocket to save or pay other expenses.
My wife wants to invest the money in mutual funds I believe to start making money on it. Is this really possible? Won't I have to then pay taxes on any money we make? How long would it take to even be financially worth it?
Debt vs invest?
Submitted May 25, 2019 at 11:09PM by BigBabyTom http://bit.ly/2YN8Q6X
