Navigating Mortgage Complexity in Retirement and Financial Freedom

Exploring the nuances of managing mortgages during retirement, highlighting the importance of considering individual circumstances and comfort levels. A preview of the upcoming comparison between HSA's and FSA's is also provided.

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Want to know how to avoid capital gains on your next home sale? If you tune in, you may dodge a quarter-of-a-million-dollar bullet (or more!). What about investing in one of the most tax-advantaged accounts that almost EVERYONE should have but most people don’t? What do you do when a family member asks to borrow money from you but has a bad track record with keeping their personal finances together? We’re getting into it all and more on this finance FAQ with Amanda and Scott!

We get a ton of personal finance questions through the BiggerPockets Forums and our Facebook Page, so we decided to round up some of the most common ones and answer them for you. First, we’re talking about how to dodge capital gains tax when selling your home. Then, a concerned listener asks whether they should take out a loan on a family member’s behalf. A high-income earner wants to know whether renting or buying is their best bet, and we share whether paying off your mortgage early is a mistake!

Got a medical expense coming up, or just want to boost your retirement investing? We’ll answer whether an HSA (health savings account) beats an FSA (flexible spending account)—but make sure you get this one right. If you invest in one of these accounts the wrong way, you’ll be throwing money away. Finally, a debt-free chaser asks whether they should use their emergency reserves to pay off debt or keep slowly slogging away with the snowball method.

In This Episode We Cover

How to avoid capital gains tax when selling your primary residence

HSAs (health savings accounts) vs. FSAs (flexible spending accounts)

Whether or not to use your emergency fund to pay off credit card debt

Why you may want to reconsider loaning a family member money

Whether to buy or rent in today’s housing market (EVEN with low money down)

Pay off your mortgage early or invest the rest of your money?

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums

Finance Review Guest Onboarding