So Money with Farnoosh Torabi

1770: (Encore) Ask Farnoosh: Am I Investing *Too* Much? Home Equity Loans and Finding a CPA

Jan 3, 2025
Is investing too much a real concern? Dive into the balance between saving for the future and enjoying life now. Discover the benefits of home equity loans for purchasing a second home. Learn tips on locating a qualified CPA to help with your financial goals. Plus, hear about the unique financial challenges faced by late-in-life parents juggling college costs and retirement. This discussion is packed with strategies for managing finances effectively!
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ADVICE

Balancing College and Retirement Savings

  • Prioritize retirement savings over 529 contributions if feeling financially strapped.
  • Explore other college funding options like loans, scholarships, and community college.
ADVICE

Brokerage Account for Flexibility

  • Open a brokerage account for flexible access to investments before retirement age.
  • Earmark these funds for long-term goals (7-10 years out) to navigate market fluctuations.
ADVICE

Managing Boomerang Kids

  • Set clear financial boundaries if adult children move back home after graduation.
  • Consider charging rent and saving it for them to help promote independence.
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