Video Response Sunday: Answering Your Questions About Money

Ever have a question about money, but not quite sure who to ask? Your mom is broke, your best friend is broke, heck even your financial advisor is broke (hint: if this is you, fire your financial advisor)!

I don’t have an official piece of paper that gives me the title of “Advisor”, but here are my credentials:

  • Bachelors in Finance, Masters of Business Administration
  • Completely debt free by age 29 (including the $140,000 house)
  • Bought a rental property with cash at age 30
  • Already have a 6-digit retirement account
  • My wife and I are on pace to buy our next rental property with cash by December 2017

Good enough for you?

Enjoy the video response below. Be sure to submit your questions via email to derek [at] lifeandmyfinances [dot] com. I can’t wait to hear from you!

Questions answered today:

  • “My wife and I are 52 years old. We’re debt free except for our house that has a $75,000 mortgage. Should we take out a loan from our 401k to pay it off?” — Craig
  • “My daughter is 16 years old. She’s smart and wants to go to college, but I don’t have any way of providing that for her. What should we do?” — Denise
  • “I can’t seem to get any traction on my debt and I always end up living paycheck to paycheck each month. How do I get out of this hamster wheel?”
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