BONUS call: Do You Need a Mortgage?
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 2 May 2017
⏱️ 7 minutes
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Summary
You're getting ready to buy a new home and have the cash to purchase it outright...should you? Or should you take on a mortgage? That's what Dwayne from Illinois was wondering and we answered his question on the latest BONUS call of the week. Have a finance question? We want to hear from you! Email us at askjill@betteroffpodcast.com and we'll arrange to get you on. Don't forget, a brand new episode of the Better Off podcast comes out Thursday so stay tuned for more listener questions plus an informative interview. Better Off is sponsored by Betterment. Please let us know what you think by leaving a rating or review in iTunes. Connect with me at these places for all my content: http://www.jillonmoney.com/ https://twitter.com/jillonmoney https://www.facebook.com/JillonMoney https://www.instagram.com/jillonmoney/ https://www.youtube.com/channel/UC_4j5YsSRTE6PuY0ZNhBFcQ/videos https://www.linkedin.com/in/jillonmoney/ https://soundcloud.com/jill-schlesinger http://www.stitcher.com/podcast/jill-on-money http://betteroffpodcast.com/ https://itunes.apple.com/us/podcast/better-off-jill-schlesinger/id431167790?mt=2
Transcript
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| 0:00.0 | Hi, this is Jill Schlesinger, and this is the Better Off Bonus Call of the Week |
| 0:07.0 | sponsored by Betterment. If you would like to get on the air live, all you have to do |
| 0:11.6 | is send us an email, ask Jill at better off podcast.com |
| 0:16.0 | and we'll be able to help you feel the most pressing financial matter in your life. |
| 0:20.6 | And I don't really care the topic. It can be investment. It could be real estate, |
| 0:24.1 | taxes, whatever's going on. Just give us a holler. Let us know. We'll get you on the air. |
| 0:29.2 | Don't forget that every Thursday we've got our longer form show to get everything and not even think about it. |
| 0:34.6 | Just download the show, subscribe. |
| 0:37.8 | It's so easy. |
| 0:38.7 | iTunes, Google Play, Stitchers, Sound Cloud. |
| 0:41.8 | So let's talk to Duane. He's on the line from Illinois. Hi |
| 0:44.8 | Dwayne welcome to Better Off. What can I do for you? Hi Jill the question I have |
| 0:49.9 | is I'm going to be selling my house and purchasing a new one and if I have the cash to pay for the new one |
| 0:57.3 | Should I pay cash for the house or should I take a mortgage? |
| 1:02.3 | Well, that's a good question. Tell me a little should I take a mortgage. Hmm. |
| 1:03.0 | Well, that's a good question. |
| 1:04.6 | Tell me a little bit more about yourself and you know, most importantly when you have that |
| 1:10.5 | question I'm most concerned with will you be depleting your available cash |
| 1:16.0 | assets, especially non-retirement assets? |
| 1:19.4 | The house I'm going to sell, I'm going to sell for approximately 175,000 okay and I'm looking at |
| 1:26.1 | buying a house for double that price about 350,000 okay so what I originally thought was I would take the 175,000 that I got from the sale of the house and used that. |
| 1:40.0 | But then I've got about 400,000 in savings, non-retirement, that I could use, you know, the other |
... |
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