Money Matters: November 11, 2017
- What’s the limit on contributions to our retirement accounts? 3:27
- Car payments are getting longer and delinquency is at its highest. 10:00
- Can I borrow from my 401(k) to pay off a balloon payment? 13:14
- Where should we invest our money for retirement? 19:59
- Should I sell my rentals to generate more income? 28:13
- We inherited $90,000, should we pay off our mortgage? 33:28
- Why your pension is not guaranteed. 38:49
- I'm 79, should I sell and rent to improve my standard of living? 44:31
On this week’s Hanson McClain’s Money Matters, Scott and Pat discuss a caller’s balloon payment due on a piece of property and how to make the payment, why your pension may not be guaranteed, and when a reverse mortgage makes sense.
Scott and Pat take a call from a couple who are great savers and want to know what the contribution limit is on their retirement accounts. The next caller wants to find out if he can borrow money out of his 401K to pay off a balloon payment on second property. A couple in their late 20’s is looking for advice on where to invest their money. A 75-year-old caller wants to know if he should sell his rental properties and draw from the profits for his monthly income to simplify his life. A caller and his wife inherited $90,000, and they need help deciding if they should pay off their mortgage. Lastly, a caller is wondering if she should sell her home and rent to help improve her standard of living.