Ask Paula: I Came Into A Lot of Money. What Should I Do With It?
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Analyzing Financial Considerations for Retirement and Purchasing a Second Home
In this chapter, the hosts discuss various financial considerations related to retirement and purchasing a second home. They talk about modeling pension and Social Security income, the potential income from a coaching business, and the importance of retiring early versus buying a house in Maine. They also mention the priority of saving $375,000 for their kids' college education and the need to determine a budget for the house in Maine. Additionally, they discuss the net income from the pension and explore the possibility of bridging the income gap with the wife's coaching business.
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