Ask HTM - Buying a Used Mattress, Best Use of an Inheritance, & Disqualified from a Roth #988
May 26, 2025
Explore the do's and don'ts of buying a used mattress—is it frugal or just cheap? Debate the best use of an inherited $150,000: pay off your home or invest? Learn how to handle excess Roth IRA contributions if you no longer qualify. Delve into car warranties and why understanding your coverage is crucial. Finally, get insider tips on switching brokerage firms for better investment options. Tune in for practical advice on making smart financial decisions!
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volunteer_activism ADVICE
Smart Inheritance Use Advice
Consider personal financial goals carefully when using inheritance money.
Avoid rushing decisions and balance paying off mortgages with investing and saving.
volunteer_activism ADVICE
Inheritance Tax and Liquidity Importance
Remember to account for state inheritance taxes.
Prioritize liquidity and use high-yield savings accounts to keep options open.
volunteer_activism ADVICE
Manage Inheritance With Care
Do not make emotionally charged decisions with inheritance money.
Consider spending a small, intentional portion to relieve pressure and honor the giver.
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This book recounts Cathy Freeman's journey from a little girl who loved to run to a world champion athlete. It includes her experiences growing up in a loving family, her relationship with her severely disabled sister who inspired her, and her rise to the top in athletics. The book also touches on the challenges she faced, including racism and personal losses, and how she overcame them through hard work, self-belief, and the support of her family. The narrative is honest and simple, making it relatable to young readers. The book is accompanied by black and white photos, some of which are family shots, adding a personal touch to the story[2][4].
Let’s kick off the week with some fresh listener questions we have lined up for you! And don't just stand on the sidelines- if you have a question you’d like us to answer, toss your voice memo our way. It only takes about 90 seconds to record and you can find a step by step guide over at HowToMoney.com/ask . Regardless of how random or bizarre you might think it is, we want to hear it!
1 - Should I use an inheritance to pay off my house?
2 - Buying a used mattress- frugal or cheap?
3 - What should I do with Roth IRA contributions that I’ve already made, if I no longer qualify by the end of the year?
4 - Is it worth paying extra for an extended warranty on our new electric vehicle?
5 - How do I go about switching brokerages if I’m wanting investment options at a different company?
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