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

#471: Bob split a $350,000 windfall between savings and paying down his mortgage. But now he’s wondering if he made a good choice. Can Paula and Joe do the math to justify his gut-driven decisions?Julia wants to tap the equity from a second home to buy a third home in Texarkana, Texas. Is this a good plan?Joey 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?An anonymous caller wonders if $1 million is a good budget for a retirement pad.Former financial planner Joe Saul-Sehy and I tackle these four questions in today’s episode.Enjoy!P.S. Got a question? Leave it at https://affordanything.com/voicemailFor more information, visit the show notes at https://affordanything.com/episode471 Learn more about your ad choices. Visit podcastchoices.com/adchoices See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.