Congrats on the sale of your business! Personally, if you have an open mortgage, i'd take the works and pay down all debt. If you're set on keeping debt to invest the windfall, then i'd do what the others suggest and invest with a HELOC after paying everything off.I've got a scenario on which I'd appreciate some PF blogger input:
I posted this question to another forum but then realized that this might be an even better place to get a response!
I've currently about $72,000 in debt, roughly $20,000 in student loans and $52,000 mortgage debt. Interest rates are low and debt is being paid down aggressively. I've also got total assets of roughly $300k, and a small business that I've been playing around with for several years just sold (literally closed today!) with net proceeds of $90k.
My initial plan was to take the sale proceeds and eliminate all debt- I've long said that being debt free and truly financially independent is a goal, and this is a great opportunity to accomplish this. At the same time, my business was a great source of side income and it would be nice to replace one income producing asset with another.
I'd like to hear opinions on whether I should use this cash to eliminate debt or invest it. I'm not saying that I'm going to listen, but I'd still like to hear your thoughts!