Should You Pay Off Your House Early or Save for Future Expenses?
Money Guy Show
Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors
4.7 • 3.1K Ratings
🗓️ 7 December 2022
⏱️ 27 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, |
| 0:07.2 | 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. |
| 0:16.0 | Let's move on to General Aviation Guru's question. |
| 0:19.5 | He says the food specifies the amount we should target for our own housing costs, right? |
| 0:25.8 | But what about a side hustle turned big? |
| 0:29.1 | What are some good guidelines to stick with when financially assessing a commercial |
| 0:33.7 | space? |
| 0:35.0 | That's a hard one, right? |
| 0:39.4 | Because it varies so much. |
| 0:40.8 | Because when you're looking at commercial properties, it's different. |
| 0:44.1 | Are you buying a single property that's going to house you? |
| 0:47.8 | Maybe you have a small business, maybe you're a plumber, and you just need a warehouse |
| 0:52.2 | facility where you can keep your stuff and you can have some employees. |
| 0:55.7 | That's different. |
| 0:56.7 | You go buy a commercial property that has four floors and I'm going to take up A suite |
| 1:00.7 | and I'm going to have tenants all over. |
| 1:02.5 | There are some different conversations and thoughts you need to have around how you |
| 1:08.2 | underwrite this. |
| 1:10.2 | The one piece of advice that comes to my mind, Brian, and I'm thinking about what Tommy |
| 1:14.0 | told us is no matter what you're doing, whether it's that big endeavor where you're going |
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