What to do with $10K?
Hi everyone! I have $10,000 (one time thing, sold a lot of personal items) that I am struggling to decide what to do with. I am trying to figure out what would be the most impactful to my life, either short term or long term. Some ideas I currently have:
Recast mortgage: I currently owe 71,000. 4.75% interest. I am seeing conflicting information on the benefits on doing this. I've run some numbers through online calculators, and I'm not seeing a huge difference in the monthly payments. Just anything would help at this point *gestures broadly at 2026*
Just making a big payment toward the mortgage principal?
Starting a low risk investment through Fidelity?
Anyone have any other ideas?
I live in a relatively low cost of living area, however my income reflects that. My 401k is doing ok, and I do not have any debt outside of the mortgage. I have $14k in savings right now. I just really need some guidance, I don't have anyone in my life to turn to for advice. Thank you ❤️