Pay off the kitchen.
Replenish the emergency fund, get it up to 4-6 months cash on hand.
Start the "Wally fun day" fund and stock it with enough to enjoy life now whenever you get the opportunity. Retirement is great and all but enjoying the journey is crucial.
Invest the rest.
Honestly I think that cash money is about to be worthless, so I would pull it now and pay off the debts. You can always get loans against them after the crash for a much lower rate.
If you have a lawyer ask, or ask him/her to point you.
When it comes to investing etc., I bought silver just before the Hunt brothers tried cornering the market and then lost $200k in 2008.
Ask a professional Wally. This is important.
In reply to 914Driver :
I'm going to
If you spend most of it on coke and hookers, you won't care how the kitchen looks, how the Jeep runs, or live long enough to retire.
Just pointing out option C.
In reply to Steve_Jones :
It's probably the best option at this point.
Just a thought , based on my own experience with some money (severance) that I got in November 2008. I took a buy-out and retired. The severance money was paid out in early January. The money went into the stock market in the last few days of February and the stock market hit bottom a week or so later. It was bargain shopping for stocks and that lump of money has grown a lot since. You might consider waiting to see if the stock market drops appreciably through the next 6 -12 months and invest it if it drops with an eye to paying off your debts (kitchen aside) after a rebound. Multiply your money. ...and since I'm a retired engineer and not a financial guru I'd advise you to sit down with a fiduciary and run through several scenarios and see what their input is.
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