This week, my buddy Joe Saul-Sehy joins me to answer another round of listener-submitted questions.
Our first question comes from Hillary:
She’s a recent college graduate in an entry level job. She’s saved up an emergency fund, but keeps depleting it as things pop up. She’s also going to law school in a year and a half, which means massive student loan debt.
She wants to know: does she have to put her financial planning on hold during this time? Is there anything else she can do now to set her up for crushing debt in the future?
A listener from California asks:
My husband and I will be inheriting money, which we plan to invest in index funds. We believe that our inheritance will eventually make us financially independent. However, I feel guilty about the fact that this money is unearned. Do you have any thoughts on this?
Eric wants to know:
Should he stick with a high-deductible health insurance plan if he’s starting a family?
He has a second question, as well: He and his wife did a cash-out refi on a rental property which resulted in $50,000. How should he use this money after beefing up his emergency fund: pay down student loans, auto loans, the primary mortgage, or use it for the down payment on another rental property?
Hailey says:
I just graduated from college; I’m making $30,000 per year, but I only work 30 hours per week, so I have time to work on side projects. I’m working on two small businesses, and I’m also interested in buying a rental property. Where should I focus my time and dollars?
Enjoy!
Resources Mentioned
- Question 2:
- Jim Gaffigan – Food A Love Story (Check out the chapter about Hot Pockets)
- Jim Gaffigan – Hot Pockets video
- Robert Kiyosaki – Rich Dad Poor Dad
- Question 3:
- Should You Pay Cash for a Car? – Afford Anything post
- Question 4:
- Question 5:
- Additional resources:
Wanna leave a question for me to answer? Head to this link and record using your phone or computer.
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