4 Ways to Tap Your Home Equity (And Why You Shouldn’t Do It!)

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Investing, Education, Business

4.7 • 3.1K Ratings

🗓️ 28 September 2022

⏱️ 27 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

For many Americans, their home is their biggest asset. There are a few ways to take advantage of the equity in your home without selling. We’ll discuss how to tap the equity in your home, pros and cons of doing so, and why it may not be a great idea. Pre-order our new course, Know Your Number! Watch more exclusive content only on YouTube! Visit our website - Get our FREE financial resources - Sign up for our Financial Order of Operations course - Get easy to understand answers to your financial questions Follow us on social media! -Instagram -Twitter -Facebook -TikTok Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Four ways to tap your home equity, but maybe shouldn't.
0:04.4	It's Brian Preston, the money guy, restoring order to your financial chaos.
0:10.4	Retirement.
0:11.2	Investing.
0:12.2	Taxing.
0:13.2	You've got financial questions.
0:14.8	He's got financial answers.
0:16.8	It's Brian Preston, the money guy.
0:20.0	I'm excited about this show because I hope that we are going to save our folks a lot of
0:25.3	a heartache. I mean, right now, it is no surprise if you happen to be on the home ownership
0:30.6	side of the equation and you've been in a home for longer than a year, odds are you've
0:35.6	done pretty well now.
0:36.6	You've seen some equity build up.
0:38.1	You've seen the value of your home increase and you've started having these thoughts in
0:41.6	your mind about, man, it seems like there's a lot of trapped value in my home.
0:48.2	Maybe should I think about a way to go capitalize on that, to go tap into that?
0:52.6	You know, people buy lottery tickets because they love to daydream about what they do
0:57.0	if they won the lottery.
0:59.5	We all know that that's a pipe dream.
1:01.6	Yeah, but you're not winning the lottery.
1:03.4	But it is one of those things where if you actually owned a house pre-2019 or even bought
1:09.0	it through 2019, you have made probably an incredible rate of return because of inflation
	...

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