So Money with Farnoosh Torabi 1815: Are You Overinvesting? Home Equity Loans and Finding a CPA
Apr 18, 2025
Is it possible to overinvest in assets? Discover the pros and cons of home equity loans when eyeing a second home. Learn how to select the right CPA for your financial needs, essential for effective tax strategies. The discussion also delves into financial dilemmas faced by late-in-life parents, highlighting the balance between saving for retirement and funding children's education. Plus, insights on how young adults can manage finances while living at home and the importance of fostering boundaries.
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Planning for Late Parenthood Finances
- Balance 529 contributions with retirement savings to ensure your future security.
- Open a brokerage account for flexible access to investments before retirement age.
Adjust Investments When Cash Is Tight
- If investing 20% of your income feels cash-strapped, consider reducing it temporarily.
- Aim to at least meet your employer's match and plan to increase contributions as finances improve.
Use Home Equity Loans Strategically
- Using a home equity loan can give you quick cash to seize good second home deals.
- Continue saving to pay down the loan as soon as possible to maintain financial health.