I am 57, will retire in 10 yrs. I have about $7000 from a matured CD. My 'portfolio' consists of a 401b with my job, no matching funds, worth about 25,000.
My house will be paid off in 8 yrs. I have a home equity line of credit at $18,000 right now. Both have interest rates below 5%. I have credit card debt of about $5000. No problems paying the bills, keeping CC debt low is imperative.
There are some home repairs necessary this year, what we can do ourselves is limited, so the equity line of credit may need to be accessed.
I am not savvy with investing in stocks on my own. I was hoping to invest the 7 grand. Would this be the best use of the money and what is the best way and/or place to do this?