Ask Paula: Which House Should I Pay Off First?

Published: July 1, 2019, 5 a.m.

#201: Ross and his wife are both in the Navy. They bought a home while they were stationed in Hawaii. Then the Navy sent them to Virginia, where they currently live; they\u2019ve purchased a home there, too. They kept the Hawaii home as a rental property, and they\u2019d like to move back into it when they retire. Which home should they repay first?\n Mike is 33, debt-free except for his mortgage, and earns more than $200,000 per year. He saves half of his income. What should he do with his savings? Pay off his mortgage? Invest?\n Josh has a nervous habit of checking his investment account balances daily. How can he break this habit?\n Amanda and her husband live in a duplex. They have $115,000 in equity in their home, and another $115,000 remaining on the mortgage. They\u2019d like to move. Should they hold the duplex as a rental? Or should they sell and use the proceeds to buy a cheaper home, with a goal of being mortgage-free?\n Christy wants to know how to compete with other aggressive real estate investors who are bidding on homes.\n I answer these five questions in today\u2019s episode. Enjoy!\n For more information, visit the show notes at https://affordanything.com/episode201\nLearn more about your ad choices. Visit podcastchoices.com/adchoices