Afford Anything

Tag: homeownership

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#494: My Husband Makes Double My Income, But Saves Nothing! Should I Be Worried?

Tatyana is about to pay off her house at age 39! What’s next? Her husband, who earns twice as much (and whom she met after she bought the home), has no savings. They want a boat. Should she focus there?

Matthew recently ended a relationship that resulted in a real estate buyout with an 8.1 percent interest rate. With rates expected to decline, how long should he wait to refinance the loan?

Rachel’s friends know her as the finance gal, but she’s stumped about closed-end funds. What should she know about these investments?

Erin and Angelique call in with a loan strategy to tackle Steve’s double mortgage dilemma from Episode 487.

Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode.

Enjoy!

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#487: Ask Paula: “Should I Put My Dreams on Hold … and Buy a House Instead?”

Luis’s wife is killing it at her side hustle. The unexpected income has led Luis to YouTube for hacks to capitalize on their surplus. Can a 529 plan double as long-term care savings?

Elizabeth is frustrated with the housing market. She’s been saving for years but isn’t anywhere near her goal. Should she give up and spend it on a dream pottery course instead?

Steve has a dilemma. He doesn’t borrow money on principle. And his wife doesn’t want to sell their current house until they’ve closed on the next one. How is he going to make this work?

Greta wants to “reverse” rollover an IRA into a 401k to avoid the pro-rata rule. Is that a thing?

Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.

Enjoy!

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#463: Ask Paula: Student Loan Deferment HACK – How Christina Saved $60,000 in Interest

Christina recently slayed her debt and put herself on track for financial success. But now she’s bored. How can auto-investing be more exciting?

Speaking of debt, Christina shares a creative HACK to SAVE $60,000 in student loan interest payments. 

Mary is struggling to compare two job offers: one from a large corporation and another from a tiny business. How should she decide?

An anonymous caller wants to buy a different home, and convert his current home into a rental. How should he finance this move?

Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.

Enjoy!

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#458: The Reality Behind High Home Prices, with BiggerPockets CEO Scott Trench

Today we chat with Scott Trench, the CEO and President of BiggerPockets, a real estate investing education company with more than 2 million members.

He joins us to share cutting-edge insights on today’s real estate market. We discuss economic trends, demographic shifts, and talk about how interest rates impact home buyers.

Whether you’re a potential homebuyer, an investor, or simply curious about the housing market, this conversation will shield light on what’s REALLY happening in today’s confusing real estate market.

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#457: Ask Paula: I Sold All My Stocks Last Year. Now I’m Kicking Myself.

Angie sold all the stocks in her retirement account last year. And now the market’s climbing. What should she do with her $500,000 cash position?

Christina will be graduating with six figures of student debt. Should she refinance out of a federally protected loan to lower her interest rate?

An anonymous caller wonders how Paula and Joe handled their primary residences when they moved out of state.

Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.

Enjoy!

P.S. Got a question? Leave it here.

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#455: Ask Paula: I’m Recently Retired. Do I Pay Off My Rentals Or Buy More Real Estate?

Yvette recently retired with the goal of reaching a $10,000 monthly income from her real estate investments. Should she put her money toward debt payoff or portfolio expansion?

Carly wants to buy a second home and convert her current home to a rental. What are the pros and cons of tapping into existing equity versus saving cash for a down payment?

An anonymous caller plans to move back to her touristy hometown in six to seven years. Is it smart to buy something now and take advantage of a thriving Airbnb market?

I tackle these three questions in today’s episode.

Enjoy!

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#449: Ask Paula: Should You Buy Real Estate in Today’s Economy?

Jackie is a 42-year-old paralegal with two rental properties. She wants to buy three more. She asks for Paula’s thoughts about today’s economy. Should she buy under these economic conditions?

Jen’s husband will retire with a pension that pays twice their living expenses. Does she still need her own retirement account?

Rachael just bought a duplex, which she wants to househack. But she’s having second thoughts. Did she bite off more than she can chew?

“Minouche” is a return caller with new information: she believes that borrowing from Dad is her only path to home ownership. Does this change Paula and Joe’s advice to her? (And is it even true?) And Molly, a concerned mom, shares some thoughts about this situation.

Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.

Enjoy!

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#440: Ask Paula: Am I Saving Enough For Retirement?

“Barbara,” an anonymous caller from Episode 422, is struggling with a scarcity mindset. How does she stop worrying about the future and build the confidence to enjoy life now?

Samantha and her partner have lived out of their truck for 20 years. They sorta-kinda feel ready to buy a house and settle down. But they’re hesitating. What if they hate it?

An anonymous caller wants to retire and travel in 20 to 30 years. How does she know if she’s saving enough?

Trace plans to take a mini-retirement next year. Where should she keep her savings until then?

Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.

Enjoy!

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#370: Ask Paula: My Income Is Dropping From $190,000 to $40,000; What Should I Do?

Michelle makes $190,000 and is going to switch to a career that pays $40,000 on average. To prepare for this lower salary, she’s selling her current home and buying a different one. Should she pay off her new home with the proceeds from the old one? Or should she invest her profits?

Kristen is 32, and she and her husband want to retire in less than 20 years. They make too much to contribute to a Roth IRA. Should they use back door Roth conversions to speed along their path to early retirement?

Anonymous lives in a high cost-of-living area and is wondering where to keep her down payment and emergency funds. Should she use I-bonds, TIPS, or some combination of these two?

In today’s episode, former financial planner Joe Saul-Sehy and I tackle these tough situations.

Enjoy!

Do you have a question on business, money, trade-offs, financial independence strategies, travel, or investing? Leave it here and we’ll answer them in a future episode.

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By Paula Pant

#270: Ask Paula – Buy a Home, Buy Investments, or Pay Off Debt? How Do I Decide?

Briana and her husband want to buy a home, but they don’t have enough saved for a downpayment. They also have student loan debt and a car loan. Which should they prioritize?

Javier is sick of being in debt. What can he do to put himself in a better situation?

Tracie wants to buy her first rental property, but she has student loans and a car loan to pay off. If she receives $20,000 from a cash-out refi, how should she use this money?

Vanitha wants to start a non-profit organization in memory of her uncle. She wants to know: what does this process look like?

Margie went under contract on a primary residence listed as a six-bedroom property. She found out that, legally, it’s a four-bedroom home. Should she re-negotiate the price, or ask for credits at closing?

I answer these questions in today’s episode. Enjoy!

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Afford Anything