What Should I Do???? Please Help...

I just received an 80K inheritance. I have a car loan 8K (7%), 1st MTG 37K (6%)and HELOC that just ended it's 5yr draw @ 23K (5%). I plan to pay all these off and open a new HELOC with a zero balance as a safety net as like everyone else, job security is at a premium. I do that or sit on the cash....I would really like to p/o the car & home...What do you think? I live alone and would appreciate your input. Thank you.

My opinion is that you should pay these off, and you'll have $12k left over for a nice emergency fund. Plus you will have all that cash you WOULD have been spending on those monthly payments to sock away in an emergency fund, or put more into your 401K and/or IRA.

I think you'll find that, like most people, your ability to get another HELOC is going bye-bye for the foreseeable future. Depend on yourself, your cash reserve, and your ongoing ability to save huge chunks of money, to save you in case your job security becomes a problem.

Emergency fund/IRA would be the way to go on your new found money after you
pay off your debt and become debt free,financially independent.
Don'T go living like Bill Gates for a year or you'll be asking us on how to get out of debt.
Oh and you say you live alone,does that mean no sugar honey?
Best