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Listeners explore the challenges of retiring early with debt, updating investment strategies, and leveraging credit card benefits. Financial planner Joe Saul-Sehy tackles these topics with host Paula. The episode delves into the nuances of revolving debt, installment debt, credit scores, and credit card rewards. Strategies for early retirement planning, college savings tips, and financial decision-making are also discussed.
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Quick takeaways
- Consider alternative wealth-building approaches to preserve financial growth instead of resorting to high-interest debt for real estate investments.
- Review and optimize 529 college savings plans regularly to ensure financial readiness for future educational needs.
Deep dives
Rob's Plan for Cash Out Refinance and Building Credit
Rob, a 31-year-old aspiring to retire in three and a half years, seeks advice on a 40-50k cash-out refinance strategy for partnership two of his rental properties. With 325k saved and living on 3k per month, the plan involves replenishing reserves and recuperating costs. However, Joe and Paula advise caution due to potential higher interest payments and suggest considering a HELOC or alternative wealth-building approaches to preserve financial growth.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode