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!

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