Renting is probably a better idea than buying, says Paul. He owns seven rental properties and collects rent from all the tenants. The bank made six percent when you bought your house; that was passed on to you 12%. When you sell it, that's two point three % every year to the state. So if you own the house 20 years, that's forty four per cent. And who's really making the money on that? The bank. Your house doesn't pay you, that makes it a bad investmentt my jet makes me more money than a house will rit cause it can get me places.
#399: Bella is SO CLOSE to reaching F.I.R.E and is worried about her withdrawal rate if the stock market drops. If the stock market does drop, can she withdraw as much as she had originally planned?
Sam has been investing for several decades and thinks that he should stay invested in his portfolio, despite the recent drop in value…but he is still wondering if there’s a chance that he should sell.
Meisha is making more money at her new job but can’t contribute to her 401(k) for the first six months - what should she do with her extra money in this interim??
Kyria is a young investor with multiple goals: she’s wondering how to best save for a downpayment without it being eroded by inflation and also whether her investment choices should take on more risk, since time is on her side.
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/episode399
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