31, stable income (15-20k per month) from job pre tax so im grossing about 10k. I will have about 160k after selling the house. Spouse is taking half my 401K so im left with about 180k in there. My company does 15%DC and a 3% match so I'm not worried about retirements yet.
My plan is to pay off about 30K worth of Credit Card debt. Yeah stupid I know but thats one of the reasons we are getting divorced because they cannot control their spending habits and expectations. So after I'm debt free, I will have about $130K left. I figured 10K to furnish the new apt.
So what do I do with this 120K? I'd like to keep maybe a reserve of 60K cash always in a high yield. But what kind of investments or businesses can I start with the other 60K?
Getting Divorced. Don't know what to do with house proceeds.
byu/Independent_Meat3333 inpersonalfinance
Posted by Independent_Meat3333
2 Comments
It is not stupid to pay off CC debt, that is actually very smart. The interest will kill you.
At the very least, until you figure out what you want to do with it, put into a high interest savings account.
Save for a future home, perhaps
After my first divorce and expenses were met, I funneled the extra into my retirement over the next year or two (was less than yours). I didn’t intend to buy another house… but changed my mind after the second divorce six years later. So maybe don’t do that like me.