{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/65675c71c3ca8a0012804645/6adb7f5728324fc86a6849e9?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"Inherited Money? Here’s What to Pay Off First","description":"<p>Take Farnoosh&#39;s <a href=\"https://www.jotform.com/build/262556781257063\" rel=\"noopener noreferrer\" target=\"_blank\">midlife survey</a></p><p><br></p><p>What if the retirement you’re saving for isn’t the life you actually want?</p><p><br></p><p>This week on Ask Farnoosh, we unpack a story about Gen X’s willingness to “blow up” their lives—from downsizing to moving overseas—to make room for more freedom. Plus, a closer look at a headline about retirement savings at age 84, what those numbers really tell us, and this week’s mortgage-rate news.</p><p><br></p><p>Then, three questions adapted from public Reddit conversations:</p><p><br></p><ul><li><strong>I inherited $25,000. Should I pay off debt, invest—or enjoy some of it?</strong> How to prioritize competing goals, weigh a nine-percent car loan, and make a thoughtful decision without making a joyless one.</li><li><strong>We want to pay our nieces’ and nephews’ college tuition. What if one doesn’t go?</strong> Setting clear expectations, supporting different paths, and understanding a useful gift-tax distinction.</li><li><strong>Someone sent me money through Zelle by mistake. Why shouldn’t I just send it back?</strong> Sending a new payment doesn’t undo the original transaction—and that difference could leave you paying for someone else’s fraud.</li></ul><p><strong>Stories discussed</strong></p><ul><li><a href=\"https://www.upworthy.com/gen-x-is-redefining-what-retirement-means-were-not-afraid-to-blow-up-our-lives/\" rel=\"noopener noreferrer\" target=\"_blank\">Upworthy: Gen X is redefining what retirement means</a></li><li><a href=\"https://financebuzz.com/average-retirement-savings-84-year-old\" rel=\"noopener noreferrer\" target=\"_blank\">FinanceBuzz: Average retirement savings of 84-year-old Americans</a> — The cited figures cover households age 75 and older <strong>with retirement accounts</strong>, rather than specifically all 84-year-olds.</li><li><a href=\"https://www.freddiemac.com/pmms/archive\" rel=\"noopener noreferrer\" target=\"_blank\">Freddie Mac: Weekly mortgage-rate survey archive</a></li></ul><p><br></p><p><strong>Mailbag sources and resources</strong></p><p><br></p><p><strong>The inheritance question</strong></p><ul><li><a href=\"https://www.reddit.com/r/personalfinance/comments/1x0eetk/just_got_25k_from_inheritance_what_to_do_with_it/\" rel=\"noopener noreferrer\" target=\"_blank\">Original Reddit discussion</a></li><li><a href=\"https://www.investor.gov/introduction-investing/investing-basics/save-and-invest/pay-credit-cards-or-other-high-interest\" rel=\"noopener noreferrer\" target=\"_blank\">Investor.gov: Paying off high-interest debt</a></li><li><a href=\"https://www.investor.gov/additional-resources/general-resources/publications-research/info-sheets/lump-sum-payouts-questions-1\" rel=\"noopener noreferrer\" target=\"_blank\">Investor.gov: Making the most of a lump-sum payment</a></li></ul><p><strong>The college-gift question</strong></p><ul><li><a href=\"https://www.reddit.com/r/personalfinance/comments/1w7d1c4/how_to_pay_for_niecesnephews_college_tuitions/\" rel=\"noopener noreferrer\" target=\"_blank\">Original Reddit discussion</a></li><li><a href=\"https://www.irs.gov/instructions/i709\" rel=\"noopener noreferrer\" target=\"_blank\">IRS: Gift-tax guidance, including the educational exclusion</a></li></ul><p><strong>The Zelle question</strong></p><ul><li><a href=\"https://www.reddit.com/r/personalfinance/comments/1wecuzg/whyhow_is_zelle_reversible_and_non_reversible_at/\" rel=\"noopener noreferrer\" target=\"_blank\">Reddit: Why are some Zelle payments reversible?</a></li><li><a href=\"https://www.reddit.com/r/Scams/comments/1x3j9fu/us_banks_fraud_department_told_me_to_send_500_to/\" rel=\"noopener noreferrer\" target=\"_blank\">Related Reddit discussion: An unexpected $500 payment</a></li><li><a href=\"https://dfr.oregon.gov/news/news2026/Pages/20260902-DFR-warns-consumers-about-growing-payment-app-scams.aspx\" rel=\"noopener noreferrer\" target=\"_blank\">Oregon financial regulator: “Payment sent by mistake” scams</a></li><li><a href=\"https://www.zelle.com/support/report-scam\" rel=\"noopener noreferrer\" target=\"_blank\">Zelle: Reporting fraud or a scam</a></li></ul><p><br></p><p>Have a money question or a midlife decision you’re wrestling with? Visit <a href=\"https://somoneypodcast.com\" rel=\"noopener noreferrer\" target=\"_blank\">SoMoneyPodcast.com</a> and click <strong>Ask Farnoosh</strong>.</p>","author_name":"Farnoosh Torabi"}