This chapter discusses the options for someone named Bob who has come into a significant amount of money. They talk about the idea of paying off the mortgage on their house versus investing the money. The chapter provides advice on what Bob should do with his money based on his specific circumstances.
#471: Bob split a $350,000 windfall between savings and paying down his mortgage. But now he’s wondering if he made a good choice. Can Paula and Joe do the math to justify his gut-driven decisions?
Julia wants to tap the equity from a second home to buy a third home in Texarkana, Texas. Is this a good plan?
Joey Jr. wants to retire early, put two kids through college and buy a vacation home within the next five years. How can he afford to do it all?
An anonymous caller wonders if $1 million is a good budget for a retirement pad.
Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.
Enjoy!
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For more information, visit the show notes at https://affordanything.com/episode471
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