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Afford Anything | Make Smart Money Choices

Q&A: Sell Your Home or Stay Put?

Afford Anything | Make Smart Money Choices

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Investing, Business

4.73.6K Ratings

🗓️ 18 June 2024

⏱️ 60 minutes

🧾️ Download transcript

Summary

Jessica and her husband are juggling two home sales and one home purchase within the next two to four years. How do they execute wisely while navigating a tight real estate market? Zerai works two jobs that both offer a pension and retirement plan. Can he take advantage of everything at his disposal or must he make some tough choices? Emily and her husband bought their home a year ago. But a national builder tempts them to sell and upgrade using a 3-2-1 buydown mortgage. Should they do it? Former financial planner Joe Saul-Sehy and I tackle these three questions in today’s episode. Enjoy! TIMESTAMPS: Please visit the show notes at https://affordanything.com/episode515 Resources Mentioned: https://www.irs.gov/retirement-plans/how-much-salary-can-you-defer-if-youre-eligible-for-more-than-one-retirement-plan https://www.irs.gov/retirement-plans/irc-457b-deferred-compensation-plans https://www.stackingbenjamins.com/start-2024-right-with-goals-jon-acuff-1459/ Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Joe have you ever advised people who are taking out a mortgage that has certain dangers that they're unaware of.

0:06.8

Dun, Dun, right?

0:09.2

I don't know what dangers are we talking about?

0:11.8

Well, you know, you're familiar with the 3-2-1 buy-down mortgage.

0:15.0

Oh.

0:16.0

That ominous countdown timer.

0:18.0

Right, yes, yes, yes.

0:21.0

And there are some surprises that can lurk ahead. Oh, we're going to talk to a caller who is

0:28.7

interested in getting a three-two-one buy-down mortgage,B-1-Downdon's.

0:35.0

But before we get to that question, we're also going to talk to a caller who has both a full-time and a part-time job

0:45.6

and wants to max out their retirement contributions and is wondering whether or not they can do so.

0:50.1

And we're also going to talk to someone who currently has a primary residence in the Midwest.

0:56.0

They have a rental property in Brooklyn and they want to move to a different home in the Midwest.

1:02.0

And so there's some juggling that needs to happen

1:03.7

and we're going to figure out how to put those puzzle pieces together.

1:06.3

Sweet!

1:07.3

Welcome to the Afford Anything Podcast.

1:09.8

This is the show that understands you can afford anything but not everything every choice

1:14.4

carries a trade-off and that applies to your time your money your focus your energy

1:18.7

to any limited resource that you need to manage this is a show that's all about optimizing those

1:24.8

limited resources so that you can build wealth and live a more optimal focused life.

1:30.9

My name is Paula Pant, I trained in economic reporting at

...

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