Inheritance windfall/High assets - LOW income

LongPrime
Mon, 19 May 2008 22:47:54 +0000

thumper1, has a good strategy. Although we did not receive inheritance, but had assets, we took loans and used the assets to pay the interest on the loans. This preserved assets and cashflow with the option of paying cash, or paying off the loan. As it turned out, our loans had interest rate reductions and the loans became increasing cheaper to maintain and payoff.

Take care of all insurance needs and living needs first, because you do not want those problems to arise when there is no cash.

For this type of money, get 3+ opinions, even if you have to pay for the service. Investigate why the different opinion is different-it may be the cheaper or the more expensive option. In either case you would eliminate the one or the two.