Navigating Finances with Aging Parents

This chapter explores the complex financial dynamics when aging parents move in with their adult children, focusing on merging finances and the impact on marriage. It also discusses the pros and cons of paying off a mortgage versus retaining it for tax benefits, celebrating a 72-year-old man's newfound financial freedom after paying off his mortgage.

Transcript

chevron_right

Play full episode

chevron_right

Transcript

Episode notes

🤔 ⁠⁠⁠⁠⁠⁠⁠Think you’re good with money? Take our Money in America quiz!⁠⁠

George Kamel and Ken Coleman answer your questions and discuss:

"Should we keep a rental if we're losing money on it?"
"I just found out I'm pregnant, how can I financially prepare?"
"I took out a pension loan, should that be first in my debt snowball?"
"Should we pull from savings to pay off debt?"
"Should I buy a house with 0% down?"
"Should surplus investing go into a brokerage or a Roth IRA?"
"I lost my job a month ago. When should I sell my house?"
"Is my boyfriend's lack of interest in getting a job a red flag about getting married?"
"Should I buy a house with my parents when my wife is totally against the idea?"
"Should I pay off my mortgage with my brokerage account?"
"How do I balance living for today and saving for the future?"
"Can I invest in a side hustle while paying off debt?"