Ask Paula: I Want to Travel After I Retire; How Much Should I Save?
Listen now
Description
#308: Ziggy purchased an $890,000 property in San Mateo, CA in 2016. After living there for a year, he had to move, so he rented it out. Unfortunately, it’s cash flow negative. Is this property worth holding onto, or should he sell? Vivek has a paid-off primary residence that he’s interested in renting out for a few years, before selling. He’s worried about capital gains tax – does turning the home into a rental impact the amount he’ll pay? Anonymous in Virginia wants to travel after retiring, which will increase her expenses for the first seven or so years of her retirement. How can she plan for a higher withdrawal rate at the beginning of retirement, and a lower withdrawal rate in the middle of her retirement? Given the talk around student loan forgiveness, Jess wants to know: should she pay the minimum on her student loan debt and save the payments she would otherwise make? Or should she keep throwing extra at her higher interest loans? My friend and former financial planner, Joe Saul-Sehy, joins me to answer these questions on today’s show. Let’s dive in! For more information, visit the show notes at https://affordanything.com/episode308
More Episodes
#504: Brian Kelly faced a harsh reality during the Great Recession – $65,000 in income and crushing credit card debt.  He started a simple side hustle, a website called The Points Guy, as an attempt to earn a few hundred dollars a month.   Fast forward to today: The Points Guy boasts 11 million...
Published 05/10/24
#503: Lindsay’s husband struggles with a mental disability. She’s worried about the impact on her family’s finances. How does she maintain harmony in her marriage and protect her kids’ future? An anonymous caller is stoked about her young nephew’s interest in saving for retirement. What’s Paula...
Published 05/07/24
Published 05/07/24