Is Buying a House a Waste of Money? (plus a discussion with Jean Statler from Alliance for Lifetime Income)

The Stacking Benjamins Show

Joe Saul-Sehy and Josh ‘OG’ Bannerman, CFP

Financial Planning, Cfp, Education, Business, Retirement, Personal Finance, Money, Investing

4.4 • 2K Ratings

🗓️ 16 August 2019

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today our roundtable discussion focuses on one set of homeowners who successfully sold their house, but realized that they could've saved $60,000 if they had instead rented and never purchased the home in the first place. Is buying a home a waste of money? Did the couple make some big mistakes that we can all avoid? Did they use professionals wisely or make some bad decisions? Discussing this headline with us are three veterans of the financial blogging and podcasting community: Tom Drake from MapleMoney.com, Paula Pant from Afford Anything, and Len Penzo from LenPenzo.com Halfway through the show, we'll take a break from our rent vs. homeownership discussion while Joe sits down with Jean Statler from the Alliance for Lifetime Income. The organization is working with MIT's AgeLab on an important issue: the risk that we might outlive our savings. Jean reviews the problems the public has had with annuities and dives into the discussion of what the industry is doing to clean up perceptions and simplify products. It's a very frank and enlightening conversation about an often maligned financial tool AND the issues surrounding living longer. During our Magnify Money segment, we'll take a call from Kurt, who has a question about his workplace tuition reimbursement. If Kurt doesn't stay with his employer for three years he owes back all of the cash his company gave him for school expenses. Right now he has the amount sitting in a savings account, what should he do with it? Should he invest it? Pay down debt? Leave it in savings? Our team bounces around several possibilities. Thanks to Grammarly for supporting Stacking Benjamins. Get 20% off a Grammarly premium account, go to Grammarly.com/sb. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	DelSugger Monday events, their biggest sale of the year, shop limited time deals on laptops like the stylish innovative XBS 13 engineered to do it all on the Intel Evo platform.
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0:15.6	Dell.com slash deals to take advantage of huge savings and free shipping again
0:21.1	that's Dell.com slash deals.
0:27.7	I mean you know you're living in your mother's
0:29.3	basement right in the blog on finance really you should stay off the computer son and get a job.
0:35.0	Seriously.
0:37.0	Live from Joe's mom's basement. It's The Stacking Benjamin Show. I'm Joe's mom's neighbor Doug and today is National Telejoke Day.
1:00.0	Well, today's show is no joke because we're talking about real estate.
1:04.0	Buying a house, one blogger says they lost a ton of money on their recent purchase.
1:09.5	Where did they go wrong?
1:11.0	We'll jump into this case study with the man behind maple money
1:14.7	Tom Drink. Plus from Afford Anything, Paula Pant, and finally from Len Penzo, it's
1:21.7	Boris Johnson.
1:24.0	No, he's busy trying to become the third Prime Minister to fire in the last five years.
1:30.0	Nah, it's just Len Penzo. And joining us from a group working with MIT's age lab to solve the risk that we might outlive our money
1:40.4	We welcome from the Alliance for Lifetime Income, Gene Statler.
1:45.7	Of course, we'll magnify someone's money and save time for my amazing trivia.
1:52.3	And now, the guy who's always up for a lifetime income stream,
1:56.2	if you're up
2:09.6	for giving me a lifetime income stream I'm in. Welcome to Friday on the Staky
2:14.4	Benjamin show. I am Joe Saul C. I like Doug said and we've got a crazy good panel
	...

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