Should You Turn Your House Into a Rental Property?

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Investing, Education, Business

4.7 • 3.1K Ratings

🗓️ 6 September 2021

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

You've got a house that you can either sell or keep to use as a rental property - what should you do? And what exactly is the 3 Bucket Strategy? We'll walk you through these questions and more in today's Q&A episode! Subscribe on YouTube! Download FREE Financial Resources from the show Sign up for our Financial Order of Operations course Let’s make sure you’re on the path to financial success - then help you stay there! The Money Guy Show takes the edge off of personal finance. We’re financial advisors that believe anyone can be wealthy! First, LEARN smart financial principles. Next, APPLY those principles! Then watch your finances GROW! Visit our site for more info. Instagram Twitter Facebook TikTok Learn more about your ad choices. Visit megaphone.fm/adchoices

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, taxes.
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	Yep.
0:16.9	All right.
0:17.9	Matthew on YouTube asked us a financial question.
0:20.6	He says he's 25 years old, both his wife and he and his wife have both Roth 401K options.
0:29.2	Is it smart to go straight for the full Roth 401K and IRA or should he contribute to the
0:35.8	three bucket strategy?
0:37.9	Can we max out all four accounts?
0:39.8	So let me just summarize this a little bit.
0:41.7	Should he go and max out the Roth IRA and the 401K or like all four of them or should
0:47.8	he go into the three bucket strategy now?
0:50.2	Point of clarification.
0:51.2	Was he asking should he max out all four accounts, meaning Roth 401K's, Roth IRA's
0:57.5	for him as well?
0:58.7	Or is he stating I am maxing out all four of these accounts?
1:03.2	He says we can max out all four accounts.
1:05.5	Oh, we can.
1:06.5	So they have the capability.
1:07.8	They have the capability, which is awesome.
	...

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