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Money Guy Show
Are You Paying WAY Too Much for a House?
Apr 29, 2024
Exploring the challenges of buying a house, advice on financial planning, real estate investments, retirement strategies, life insurance decisions, and balancing consumption choices for long-term financial security.
41:22
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Quick takeaways
- Maintain financial peace by setting appropriate down payment & ensuring housing costs <25% of gross income.
- For retirement savings without 401(k), consider traditional/Roth IRAs, HSA contributions, after-tax accounts.
Deep dives
Consideration for Homebuying and Financial Peace
When buying a home, it is crucial to maintain financial peace by following key benchmarks like setting the appropriate down payment, ensuring housing costs are less than 25% of gross income, and committing to long-term decisions. Understanding the affordability indicators and considering factors like timeline and appropriate down payments can help prevent financial strains.
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