What Were Bo's Biggest Financial Milestones?

Money Guy Show

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

Education, Retirement, Moneyadvice, Investing, Savingmoney, Personalfinance, Business

4.6 • 2.8K Ratings

🗓️ 24 February 2025

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

"We have heard about some of Brian's financial goals and milestones (6 figure job by 30, $1M net worth, etc.)... But what were some of Bo's financial goals and milestones in the early going?" -Andrew G. We'll walk you through that question and more in today's Q&A episode! Jump start your journey with our FREE financial resources Reach your goals faster with our products Take the relationship to the next level: become a client Subscribe on YouTube for early access and go beyond the podcast Connect with us on social media for more content Bring confidence to your wealth building with simplified strategies from The Money Guy. Learn how to apply financial tactics that go beyond common sense and help you reach your money goals faster. Make your assets do the heavy lifting so you can quit worrying and start living a more fulfilled life. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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1:06.9	Keeping on the home topic, Aaron V has a question.
1:11.6	He says, what is the break-even point at which refinancing or rate adjustments of your home mortgage makes sense?
1:17.6	Also, do we expect mortgage rates to drop this year?
1:21.6	All right, I'll do break-even point.
1:24.6	Yeah, so a lot of people are surprised to hear this, Aaron. It's really a
1:29.8	mathematical calculation when you decide, does refinancing make sense or does it not make sense?
1:35.1	And here's the way that you want to recalculate it. Let's say that you bought a house and you
1:40.7	were in a 30-year mortgage and now you're five years into it. So you have 25 years left
1:46.1	on the mortgage. That's important because I'm going to come back to that. You decide I'm going
1:50.1	to refinance. Well, most of the times when you're refinance, you're going to refinance into a new
	...

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