"I Paid Off My House Early - Did I Do It Wrong?"
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 30 January 2023
⏱️ 23 minutes
🧾️ Download transcript
Summary
Transcript
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| 0:00.0 | It's Brian Preston, the money guy, restoring order to your financial chaos, retirement, |
| 0:07.0 | investing, taxing. |
| 0:09.0 | You've got financial questions, he's got financial answers. |
| 0:12.6 | It's Brian Preston, the money guy. |
| 0:15.9 | All right, Taylor has a question. |
| 0:18.1 | How do you decide it's time to get a new car? |
| 0:21.4 | We have a paid off car right now, 2005 Ford Taurus with about 200,000 miles on it, but a |
| 0:28.2 | baby's on the way. |
| 0:29.8 | So when do you consider a car not safe and when is it time to just pull that trigger |
| 0:35.0 | and get the new car? |
| 0:36.7 | You said it was a 2005 Ford Taurus with 200,000 miles on it. |
| 0:42.2 | 200,000 miles. |
| 0:43.2 | Ruby, I'm curious, before baby I got here, did you and John have car conversations around |
| 0:48.8 | like, oh, we need to think about a different car situation, different car circumstance? |
| 0:53.4 | We did, but it was more like the size of the vehicle and it was more like down the road. |
| 1:00.7 | So our cars are like, okay, they're a bit newer than 2005. |
| 1:04.8 | We determined that they were fine and they are paid off. |
| 1:08.3 | So that is my favorite thing about them. |
| 1:10.8 | So I get this question, it is true. |
| 1:13.0 | How do you decide to do this? |
| 1:14.6 | When you and your wife were thinking about having babies and all that kind of stuff, |
| 1:19.0 | did the car, was it a, was getting a new car thinking about a car because the family |
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