White Coat Investor Podcast

WCI #160: What State is Best for Real Estate Investing?

May 28, 2020
Guest
James Turner
In this discussion, James Turner, a physician and co-host of the Money Meets Medicine podcast, shares insights on the best states for real estate investing, highlighting the importance of local investment. He also dives into retirement strategies, comparing Roth and tax-deferred 401(k) options. The conversation touches on strategies for financial freedom without strict budgeting, answering listener queries about mortgage forbearance and tax implications. Additionally, he discusses investment funds, estate planning, and the complexities of managing multiple retirement plans.
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ADVICE

Roth vs Tax-Deferred 401(k) Guidance

  • Contribute to tax-deferred 401(k) accounts during peak earning years for tax benefits.
  • Use Roth or tax-free accounts when income is lower, like during training or leave years.
ADVICE

Balance Income Rise with Caution

  • When income increases, balance saving, spending, and giving instead of increasing lifestyle drastically.
  • Avoid lifestyle inflation to prevent needing more savings for retirement.
ADVICE

Know Mortgage Forbearance Terms

  • Understand mortgage forbearance details, as interest still accumulates during the period.
  • Verify if missed payments are due at once or simply extend the loan duration.
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