Jimmy the Greek’s answer is the correct answer.
Buy a gym membership for your sons and son in laws, and any nephews and any of their friends you can find. And martial arts training, and firearms training.
Then put the rest of the money on the street and make a 8% a week vig, end up owning a bunch of distressed businesses and properties in your area.
Jimmy was a smart man.
....
For the rest of us... by this time next year, we’ll have 30 yr bond rates at either 1% or 8% ... and now that TIPS as an investment class has failed... the chances that 600k can provide enough interest and tax free fixed investment income to live off of is no longer a reasonable retirement strategy.
Investment acumen here will provide the answer. IT takes a boom to create wealth, and a depression to consolidate it, if you have a strong hand in investment knowledge, do not pay off loans at a low rate such as the example above.. but if you do, you didn’t need an anonymous freeper to tell you that. If you have to ask... best to pay down the mortgage unless you are willing to gamble on the performance of an investment advisor.
who would do the collections? Furio Giunta?