The best thing you can do with your children is to make sure that they don't have to take care of mom and dad later on. I would not have borrowed against your 401k. Even though the windows are at 0%, I still want to pay cash because now it's hanging over your head. You've already been college hacking, there's probably more that you can do in a non-financial way to help them get college accomplished.
#197: Should Bret invest in a Traditional IRA or a Roth IRA?
If Amanda gets married, how will her child support be affected? What about her student loan forgiveness?
Joe is investing in bonds, which average a rate of return that’s equal to the interest rate on his mortgage. Should he switch to all-equities and redirect his bond investments into mortgage payoff, instead?
Taunia has a car loan, a 401k loan, a home improvement loan, a primary mortgage, and a second mortgage. She also has an emergency fund that only covers two months of expenses, and she’s trying to save for college for her two children. What should she prioritize?
Mickey has a six-month emergency fund. Should he leave it in a savings account or invest in bond ladders?
David made $10,000 from a side hustle last year. Can he open a Solo 401k or SEP-IRA for his side hustle business? If so, which one should he choose?
Should Andy invest in a Target Retirement Date fund, or should he split his money between a U.S. index fund and an international index fund?
Former financial planner Joe Saul-Sehy and I answer these seven questions in today’s episode.
For more information, visit the show notes at https://affordanything.com/episode197
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