In the near future my wife and I will be gaining a lump sum of about 400k. We owe 200k on our house and our mortgage is 2k a month.
Would it be more wise to pay off the house and invest the rest of the money into mutual funds, making 2k a month payments into the mutual funds, or to just invest all 400k and keep the mortgage?
If we pay off the mortgage our only debt will be student loans (two vehicles both new and both paid off) and normal miscellaneous things.
We are both in our forties. My wife has recently gone back to school, however I am the only one currently working. She will be done with school in the next year-and-a-half and should be making approximately 120k a year in the healthcare field when she is done. I hate having a mortgage but don’t know if now with everything going on it’s a good time to invest.
Sorry if this is the wrong subreddit to ask this! Any help would be appreciated.