Ask Paula: I Doubled My Investments During the Pandemic. What Should I Do Next?

Published: May 11, 2021, 5 a.m.

#316: Pauly from Portland doubled the inheritance money he received from $50,000 to $100,000 during the pandemic. Now he\u2019s wondering if it\u2019s okay to use this $100,000 as a downpayment on a home in Portland. Is that a wise use of the money?\nPreethi accidentally withdrew funds from her Roth IRA as an excess distribution, and she\u2019s already filed her taxes. What should she know for tax time next year?\nMichele wants to reach financial independence (FI), and her grandparents are leaving her their house. She already owns a home, and she\u2019s torn between six potential options that will propel her toward FI. What should she do?\nCasey is in the market for a second rental property and wants to know: would we recommend purchasing a rental in a complex where she already owns a condo? Or should she diversify into a different complex in a different, nearby, more stable town?\nFred doesn\u2019t have access to a workplace retirement plan. Besides opening a Roth IRA, what else can Fred do to juice up his retirement savings?\nMy friend and former financial planner, Joe Saul-Sehy, joins me to answer these questions on today\u2019s show. Enjoy!\nFor more information, visit the show notes at https://affordanything.com/episode316\nLearn more about your ad choices. Visit podcastchoices.com/adchoices