Opinions on recent windfall

I’m looking for some outside opinions on what to do with a recent windfall of about $175,000. I’m 36 years old, married, and my first child is due later this year. I own a home worth roughly $725,000 and currently owe about $580,000 on the mortgage. The mortgage payment is high (around $5,800/month including taxes and insurance), and I have about 14 years remaining at 5.5% interest. My current net worth is approximately: $655,000 stock market $50,000 money market $340,000 in real estate equity $