32y/o Male with Expected Inheritance

Hey everyone,

Looking for some financial advice and ideas on optimizing my situation. Here’s my snapshot:

💼 Income • Primary job (W2): ~$160,000/year • Side job (1099): ~$15,000/year

📊 Retirement & Savings • 457b: $150,000 • Roth IRA: $25,000 • Cash in bank: $20,000 • Pension: I’ll receive 80% of my salary for life when I’m in my mid 50s.

🏡 Real Estate • Primary residence: • Mortgage balance: $380,000 • Interest rate: 6.6% • Second home (rental in progress): • Mortgage balance: $60,000 • Interest rate: 4% • Will be rented in ~11-15 months • Expected net rental income: $1,400/month ($17,000/year)

🚗 Other • No car loans, no student loans • Credit card debt: $30,000 (all 0% interest until Nov 2026) • Used for home renovations instead of higher-interest loans • Plan is to pay it off before interest kicks in

💰 Big Change Coming

I’m expecting an inheritance of ~$500,000 in the next 6–12 months. I want to be smart and intentional with this windfall.

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What I’m Thinking About: • Paying down the 6.6% mortgage • Investing more in index funds or real estate • Possibly paying off the credit card early • Setting up a trust or financial protection measures • Maybe travel a little, but mostly want to grow and preserve wealth

Question: What would you do in my situation with the $500k? What should I prioritize — debt paydown, investments, real estate, or something else I might not be thinking of? I looked at a traditional IRA and possibly a backdoor Roth IRA.

Thanks in advance for your insight.