Young widow looking for advice.

[Anonymous]

I'm sorry, in advance. Normally, I'd do all my research, but I'm feeling overwhelmed.

May I ask some questions?

I have a windfall, due to being a widow. It's life insurance.

So far, I've paid off all credit cards, my highest (rate and compound interest) group of student loans. I maxed out an IRA via Vanguard. I've set aside living expenses. What now? Do I pay the rest of my loans? I have 5k left on my car payment and 18k left in federal loans which are still technically in deferment. What would you do?

[driftless]

I am sorry for your loss.  I would stop and catch your breath and take the time to decide where your future is headed.  

[Anonymous]

Thanks for that! I've done that, and I'm ready to do something

[Anonymous]

More detail: I am early 30s, with a young son, and my own early professional career.

[driftless]

While not knowing your income, expenses, etc., I would recommend keeping as much of your windfall in reserve or cash cushion, as possible.  

[Anonymous]

Thank you so much for helping me fill in details I have a year of living expenses set aside in a high yield savings account

[Anonymous]

Hi wolf and sorry for your loss, sincerely!

Would help if you can list what all the debt you have vs savings/available funds.  Balances/credit limiits and your cards etc

[driftless]

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@Anonymous wrote:

Thank you so much for helping me fill in details I have a year of living expenses set aside in a high yield savings account

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That is a very good start.

Do you work?  Can you maintain your lifestyle on your income?

[Anonymous]

Yes! Okay, can do.

I have 30k in credit limit, spread out in Amex/MC/Visa cards that are all decent and paid off. I will probably be able to get better cards eventually, but my credit is still mediocre because I had high utilization for a minute due to having to survive while I was finishing school and my husband was ill.

I have 18k in federal student loans. 4 groups; all 4% or less interest.

I have 5k in a car loan via a CU, again, about 4% interest.

I have a reserve of 100k in a high yield savings account.

I have 200k in a short term CD.

I have 300k sitting there looking me in the face.

[Anonymous]

Yes! I have my own career. I'm honestly dealing with some PTSD, but my work is willing to be really patient with me, and even if they weren't, when I was ready I could easily get another job (computer science).