How often do we dream of winning the lottery or getting uber wealthy from some other form of windfall. Let's face it, it is fun to think about, but you have a better chance of being struck by lightening than winning the Powerball! However, getting an inheritance, a life insurance settlement or some other form of sudden windfall is common. When this happens, I am often asked “should I pay off my mortgage?” The answer is “maybe”. In the following article written by Broadridge Investor Communications, they go over some of the common questions and challenges that face folks that come into sudden money. Read on to see if you should pay off your mortgage.
So, let me ask you, what would you do if you won the Powerball?