WCI #362: Recasting a Mortgage and Beating a Non Compete

6 snips

Apr 11, 2024

Topics discussed include getting rid of a gifted timeshare, using student loan money for downpayment, paying off mortgages early, and recasting mortgages. Non-compete contracts are also covered, highlighting the legal and ethical considerations. The episode also features information on SOFI services and the Financial Educator Award.

Ask episode

AI Snips

Chapters

Transcript

Episode notes

ADVICE

Timeshare Avoidance and Disposal Advice

Avoid buying new timeshares; buy used or get them for free if needed.
Use the Timeshare Users Group forum for selling or advice, and disclaim unwanted timeshares if possible.

ADVICE

Student Loans and Residency Housing Advice

Do not use student loan money for non-education expenses; it violates the loan agreement.
Generally, renting is more financially prudent than buying a home during residency.

ADVICE

Mortgage Payoff and Home Equity Advice

Paying off high-interest debt gives a guaranteed return equal to the interest rate.
Remember that saving on rent is a separate benefit from paying off your mortgage.

Get the Snipd Podcast app to discover more snips from this episode

Get the app

Today we are answering your questions about how to get rid of a timeshare that was gifted to you, if it is legal or a good idea to use student loan money for a downpayment, if you should pay off your mortgage early and what recasting a mortgage is and if it is a good idea. Dr. Dahle also answers a few questions about non compete contracts.

No more wading through dozens of books at the library, scrolling through hundreds of blog posts on dozens of blogs, or checking in daily with online forums trying to gain a financial education the way the hobbyists do. For a fraction of the price of hiring a professional financial planner, the Fire Your Financial Advisor online course will take you from feeling anxious and having no plan to having a written financial plan you can follow the rest of your investing career as a professional and a retiree. This course is the material that should have been taught to you in college, medical school, or residency but never was. Fire Your Financial Advisor also has a version eligible for CME credit. Get your financial life in order today. Go to https://www.whitecoatinvestor.com/courses to sign up. You can do this and The White Coat Investor can help.

The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!

Main Website: https://www.whitecoatinvestor.com YouTube: https://www.whitecoatinvestor.com/youtube Student Loan Advice: https://studentloanadvice.com Facebook: https://www.facebook.com/thewhitecoatinvestor Twitter: https://twitter.com/WCInvestor Instagram: https://www.instagram.com/thewhitecoatinvestor Subreddit: https://www.reddit.com/r/whitecoatinvestor Online Courses: https://whitecoatinvestor.teachable.com Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter