I’m receiving a small guaranteed tax-free income of $260 (U.S. Dollars) a month for the rest of my life.
The guaranteed income will go up at least 1.67% annually if not more.
I’m feeling a bit guilty throwing away this money every month for the past 5-years. How should I invest this guaranteed monthly income?
A couple of things to note:
1) I do decent in regards to income, I’m somewhere in the top 11-15% of income earners, depending if you look at individual or household.
2) I'm in my mid-30's. Annual physicals say I'm 100% healthy and fit, so hopefully I'll be collecting this money for a while and if I do pass-away my family would get 3x more a month, so maybe dying is the best way to maximize the results, but I'm not purposely pursuing that option...LOL.
3) Other than my $1400 mortgage, I have no other debt (no credit-card, no car payment, no student loans, nada, zero, zip).
4) I already invest a good amount in my 401k.
5) Please don't say donate to charity!
6) If Social Security is around by the time I retire I will still be able to collect and it will not affect my Social Security checks.
7) The monthly income does not have any restrictions. Meaning, I can work, start a business, etc.
8) Married with children.