Video Response Sunday: Answering Your Questions About Money

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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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Money Video Response Sunday

Derek

AUTHOR Derek

My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.

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