Ask HTM - Roth vs. Trad 401k, Lower Credit Score After Paying Off CC Debt, and Talking with Parents About Investing Episode #244
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Episode Highlights
Sale Proceeds
Joel Larsgaard and Matt Altmix tackle the question of how to best use the proceeds from selling a home. They highlight the importance of considering transaction fees and the benefits of allocating funds to avoid PMI payments 1. Joel emphasizes that while investing proceeds can be beneficial, personal preferences and financial goals should guide the decision.
Whether you choose to invest or put more money down, it's going to be okay. It comes down to personal preference.
--- Matt Altmix
Matt also shares his experience with paying off lower interest debt for emotional and psychological benefits 2.
Mortgage Options
Exploring mortgage strategies, Joel and Matt discuss the advantages of leveraging low mortgage rates and investing in tax-advantaged retirement accounts 3. They suggest that taking advantage of low rates while putting down 20% can be a smart move. Joel also mentions the benefits of prepayment options and the flexibility they offer.
My preference is to see you invest more for the long term while letting that loan ride out over the full term.
--- Joel Larsgaard
Additionally, they touch on innovative mortgage options like Navy Federal's no refi rate drop, which can simplify home ownership for military members 4.