Skip to content
Personal Finance

User Stats

240
Posts
298
Votes
Bill Ward
298
Votes |
240
Posts

What to do with $$ if I cash out

Bill Ward
Posted Jul 3 2021, 01:42

I have a single rental, considering selling due to appreciation and just not too interested in the landlord job anymore. My question is what I should do with the funds if I sell, should be roughly $70-80k after all fees. I have no outstanding debts outside of my current mortgage which is $156k Just refinanced with a 30 year. I have a 457 plan through work, I currently contribute $12k a year (max is 19.5 but I can't afford that now). I have no other investments.

One plan was to just hold the 80k in savings and draw from it as needed so I could bump my 457 deposits up to the max for the next 6 or 7 years. I'm 36 and hoping to retire in my early 50s. Maybe pick up a part time job for health insurance then. I can receive my pension at age 50.

Another option would be to invest the 80k immediately, but I'd need to get help as I'm no stock expert.  Any thoughts what you would do if you got out of real estate?

Thanks, 
Bill

Loading replies...