870-Friday Q&A: 60-day Rollovers, Digital Nomading, Childcare, Cash-Out Refi, Etc.

Radical Personal Finance

Joshua J. Sheats, MSFS, CFP, CLU, ChFC, CASL, RHU, REBC, CAP

Finance, Retirement, Insurance, Business, Money, Education, Self-improvement, Financial, Independence, Growth, Advice, Investing, Family, Personal, Radical, Christian, Faith

4.4 • 1.9K Ratings

🗓️ 26 May 2022

⏱️ 93 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today's Q&A we cover:

1:38 Can I borrow my retirement money by doing a 60-day rollover?
16:15 How do I become a digital nomad in Europe? (*I mistakenly said "Greece" in this answer when I meant "Cyprus.")
40:01 How can we provide awesome childcare at home when we both have full-time jobs?
58:23 Should I do a cash-out refi or take a home equity loan?
1:03:49 How should I do a career change into financial services?
1:17:15 Should I join a startup, especially given that I have to put in my own money?

To join me on next week's Q&A go here: https://patreon.com/radicalpersonalfinance

Enjoy!

Joshua

Transcript

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0:00.0	Today on Radical Personal Finance, live Q&A.
0:19.0	Welcome to Radical Personal Finance, a show dedicated to providing you with the knowledge
0:21.6	skills, insight, and encouragement you need to live a rich and meaningful life now, while
0:26.1	building a plan for financial freedom in 10 years or less. My name is Joshua Sheets,
0:30.0	I'm your host and today we do live Q&A. Call in and talk about anything that you like.
0:50.8	If you're new to one of these Q&A shows, welcome. I am glad that you are here. Basically,
0:54.5	it's called Ask Joshua Anything or talk about anything that you want to talk about.
0:58.4	These shows are available to patrons of the show to do that. Go to patreon.com,
1:02.3	slash Radical Personal Finance, search patreon for Radical Personal Finance, sign up to support
1:06.4	the show there on Patreon, and then you'll gain access to these Friday Q&A shows, which I record,
1:11.2	I record, each week that I'm able to arrange the appropriate technology. Call in, ask about
1:16.4	any questions you want, talk about anything that you want to talk about, don't censor, don't block,
1:21.1	but doing it to the Patreon page gives me a convenient way to just meter the flow just a little
1:25.4	bit and make sure I don't have too many calls. We begin today with Tim. Tim, welcome to the show.
1:30.5	How can I serve you today, sir? Can you hear me? Sounds good. Good. So I just changed
1:38.5	up and I'm moving my retirement to, but I think it would be the best option in the pension versus
1:47.6	a 401k. And I first wanted to know whether it's more valuable to move it to the 401k versus
1:56.0	to an IRA and then whether it's worth it to pull the funds out as an indirect 60-day rollover to
2:03.7	leverage the market downturn or whether it's too high risk. All right, so let's do with the first
2:09.9	one first because it's fairly simple and fairly straightforward. Generally speaking, when you leave
2:16.3	an old company, generally speaking, you will want to move your money from the old 401k into a
2:23.4	traditional IRA that you control in the open market. There is one exception to that, one reason not
	...

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