Ask Paula: Should We Drain Our Brokerage to Make a HUGE Down Payment?

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.6 • 3.4K Ratings

🗓️ 10 January 2024

⏱️ 68 minutes

🔗️ Recording | iTunes | RSS

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Summary

#482: A caller named “M” wonders if liquidating stocks for a larger down payment makes sense in a high-interest rate environment. An anonymous caller wants to take a pay cut to pursue his passions. But 75 percent of his net worth is in real estate. Is this too risky? Tiffanie hasn’t saved enough for early retirement, but she has a plan to use home equity to accelerate her goals. Is this going to work? Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode. Enjoy! P.S. Got a question? Leave it at https://affordanything.com/voicemail For more information, visit the show notes at https://affordanything.com/episode482 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Joe have you ever drained the money into your brokerage accounts for any reason?
0:04.6	No, but, but back when I was really bad with money, I would have been happy to have had a bank account to drain.
0:13.0	Instead I just drained all my credit card limits.
0:15.0	Oh, even worse.
0:18.0	Even worse. Okay, well.
0:20.0	Well, we're going to be answering some questions from this community today, kicking off with,
0:26.1	I guess someone who's in a better situation than you were.
0:28.4	So we're going to start with that.
0:31.6	Welcome to the Afford Anything Podcast, the show that understands you can
0:35.0	the A4 Anything Podcast, the show that understands you can afford anything but not everything.
0:36.6	So every choice that you make carries a trade-off and that applies to any limited
0:40.4	resource that you need to manage, whether it's your time, your money, your
0:43.7	focus, your energy, and so this is a show all about figuring out what matters most and
0:49.7	how to make decisions accordingly. I'm your host Paula Pan. Every other episode we answer
0:55.1	questions that come from you, the community, and my buddy the former financial planner
0:58.9	Joe Saul C. High joins me to answer these questions. What's up Joe? I am ready to serve.
1:05.2	Ah, I think we're gonna have some fun with these. We're gonna have an amazing time.
1:10.4	So a little sneak peek of what's coming up. We've got our first caller who is thinking about
1:18.0	draining her brokerage account in order to make a bigger down payment on a very expensive property in today's high
1:25.7	interest rate environment. We've got another caller who wants to take a pay cut in
1:29.9	order to pursue his passions, but 75% of his net worth is in real estate.
1:36.3	So is he ready to take a pay cut?
	...

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