How to Money Ask HTM - Responding to a Rental App Denial, Crummy 529 Plans, and Buying Land as an Investment for Family #961
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Mar 24, 2025 Listeners get savvy advice on responding to rental application denials and the role of credit scores in securing housing. There’s a deep dive into whether state 529 plans, despite higher fees, are worth the tax breaks. The conversation also touches on purchasing land as a family investment, highlighting innovative uses for land and potential pitfalls. Plus, practical tips are shared on balancing 401k contributions with emergency funds, along with the surprising costs of cell phone bills and the benefits of affordable plans for saving money.
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Emergency Fund Before Retirement
- Prioritize building a 3-month emergency fund before aggressively saving for retirement.
- Reduce 401k contributions to the match level until the emergency fund is established.
Handling Rental Application Denials
- If denied a rental application, ask the landlord for specific reasons.
- Address those reasons directly, like offering a larger security deposit or providing more references.
529 Plans: State Tax Breaks vs. Fees
- Prioritize 529 plans with state tax benefits, even if fees are higher, if you are doing well with other investments.
- You might move the funds to a lower-fee plan later, but ensure your state doesn't have clawback rules.