How to Money Ask HTM - Special Roth Accounts, Investing During A Sabbatical, & Reverse Mortgages #985
May 19, 2025
Listener questions spark lively discussions about financial strategies. Discover the benefits of establishing Roth IRAs for kids, promoting early investing. The hosts tackle the complexities of reverse mortgages, shedding light on their risks. Explore how to effectively manage investments during a sabbatical and the importance of maintaining an emergency fund. Tips on spousal contributions to retirement accounts and choosing the right savings accounts round out valuable advice for navigating personal finance.
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Bulk Dishwasher Purchase Win
- Joel bought four Bosch dishwashers during a sale and plans to sell the extras for profit.
- He resolved his dishwasher issues while gaining financial benefit through resale to friends and family.
Youth Roth IRA Setup Tips
- Keep detailed records of your child's earned income to avoid excess Roth IRA contributions.
- Fidelity is recommended for youth Roth IRAs due to low fees and diversified investment options.
Reverse Mortgages Are Costly
- Reverse mortgages involve high fees that reduce the equity accessible from a home.
- Consider alternatives like selling, downsizing, or cash-out refinancing before a reverse mortgage.