The Moneyist: I sold my late mother’s home for $250,000. I make $80,000 and have $220,000 in student debt. I want to buy a house. Should I use all my inheritance for a down payment?

by | Dec 9, 2022 | Stock Market

Dear Quentin,  My mom passed away, and left me her house, which I just sold and will net $250,000. I’m 41 years old with no real retirement savings. I make $80,000 a year, and I am maxing out contributions to my employer-matching retirement account. I own my car, pay off my credit cards in full every month, and my only real debt is $220,000 in federally funded, consolidated school loans. (I only took out $100,000, and have been making income-based repayments for 13 years). 

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