In this Mailbag, Jean talks to Alyce about how to pay for home renovations for her special needs daughter and whether it's reasonable to adjust her retirement savings. She and her husband have a home equity line of credit (HELOC) and are concerned about the high interest rate. They also discuss whether they should consider a TSP loan or reduce retirement contributions to pay off the HELOC. 

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Takeaways:

• Consider using a TSP loan or reducing retirement contributions to pay off high-interest debt.
• Consult with a financial advisor who specializes in special needs planning.
• Set up a special needs trust and consider other estate planning options for a child with disabilities.
• Take advantage of employer-matching contributions for retirement savings.
• Evaluate the performance and usefulness of random investment accounts and consider selling them for immediate needs.

Chapters:

00:00: Introduction

01:44: Alyce's Family and Home Renovation Needs

07:28: Comparing Mortgage and HELOC Rates

11:04: Retirement Savings Overview

18:38: Considering a TSP Loan

21:48: Selling Stock and Brokerage Account

23:33: Final Advice

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