Ask Paula: I Came Into A Lot of Money. What Should I Do With It?

Published: Nov. 8, 2023, 10 a.m.

#471: Bob split a $350,000 windfall between savings and paying down his mortgage. But now he\u2019s wondering if he made a good choice. Can Paula and Joe do the math to justify his gut-driven decisions?\nJulia wants to tap the equity from a second home to buy a third home in Texarkana, Texas. Is this a good plan?\nJoey Jr. wants to retire early, put two kids through college and buy a vacation home within the next five years. How can he afford to do it all?\nAn anonymous caller wonders if $1 million is a good budget for a retirement pad.\nFormer financial planner Joe Saul-Sehy and I tackle these four questions in today\u2019s episode.\nEnjoy!\n\nP.S. Got a question? Leave it at https://affordanything.com/voicemail\nFor more information, visit the show notes at https://affordanything.com/episode471\nLearn more about your ad choices. Visit podcastchoices.com/adchoices