Ask Paula: How Should You Invest a $1 Million Lump Sum?

Ask Paula: How Should You Invest a $1 Million Lump Sum?

#288: Karen and her wife are in their 50s, financially independent, and partially retired. They need $150,000 to buy a new home, and they aren’t sure which option is best. Should they take advantage of the CARES Act and pull money from their traditional IRAs? Raid their Roths? Or take out a mortgage? Ingrid’s mom is retiring this year. To fund her retirement, she’ll sell her property for $1 million. How should she invest this money so that she can live off of it in perpetuity? Elaine has saved $20,000 in a 529 plan for each of her two kids, but she realizes that they may not attend college. Should she keep the 529 plans, or save money elsewhere? Amanda is afraid to tap the equity in her home and use it to purchase a rental property. How should she think through whether this move is right for her? Lisa and her family plan to sell their home and move across the country. They might have the option to pay cash for a home, but they also want to buy an investment property. Should they get a mortgage on their new home or pay cash? My friend and former financial planner Joe Saul-Sehy joins me to answer your questions on this episode. Enjoy! For more information, visit the show notes at https://affordanything.com/episode288 Learn more about your ad choices. Visit podcastchoices.com/adchoices

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Episoder(782)

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Q&A: Would You Spend $60,000 on a Wedding Knowing It Could Be $800,000 Someday?

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24 Jul 1h 14min

Q&A: Her Brother Owns 3 Houses — Is That Why We Have a 'Housing Shortage'?

Q&A: Her Brother Owns 3 Houses — Is That Why We Have a 'Housing Shortage'?

#734: Depending on which source you ask, the U.S. is short somewhere between 1.2 million and 10 million homes — and the reason for that wild range says as much about who's counting as it does about th...

21 Jul 1h 23min

The Hidden Math Behind Every Venture Capital Fund, with former Wharton Prof. David Bell

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#733: Venture fund managers can collect years of fees before a single dollar comes back to investors — and the bar to hand over your money is lower than you'd think. David Bell spent 20 years as a ch...

17 Jul 1h 1min

Your Zip Code Is Quietly Deciding What You Buy, with former Wharton Prof. David Bell

Your Zip Code Is Quietly Deciding What You Buy, with former Wharton Prof. David Bell

#732: Where you live is already deciding what you'll buy today, before you've even made up your mind. And it turns out the customers your local stores ignore completely are often a brand's most valuab...

14 Jul 1h 2min

Is AI Making You Dumber? With Lorraine Marchand

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#731: What if the best way to test a new hire wasn't a resume, but a two-hour breakfast? One CEO built his entire hiring process around it — and it worked. Lorraine Marchand spent three decades in le...

10 Jul 1h 16min

Q&A: We Have $1.5 Million. Can We Stop Now?

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#730: What does it actually mean to have "enough" — and how do you know when it's time to stop optimizing and start living? AVOIDING THE REAL ESTATE MISTAKES IN THIS FREE GUIDE COULD SAVE YOU $10,000...

7 Jul 1h 3min

First Friday: Jobs Are Cooling, Prices Are Climbing, and NYC is Freezing the Rent

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#729: The U.S. added 57,000 jobs in June. Economists expected 115,000. Meanwhile, inflation hit a three-year high. The Personal Consumption Expenditures index - the Fed's favorite inflation gauge -...

3 Jul 1h 5min

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