Ask Paula: My Income Is Dropping From $190,000 to $40,000; What Should I Do?
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Does She Go Debt Free or Does She Take Out a Mortgage?
She's talking about taking the 500 thousand dollars and either invest it or put it into making sure all her debts paid off. She has a 12 month cash reserve, correct? So does she invest it, or does she go debt free? And i'm saying there may be a difference. Maybe she takes out a small mortgage. Why would she take out a mortgage? Why wouldn't she? Cause it's a different house. Butshe's already in that house, so she doesn't need to take out a new mortgage. Now, this is when she's moving. She's already moved. She had a former primary residence, but she's currently in her new home. I would definitely
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