What Happens When You Inherit a House? The Great Wealth Transfer Is Hitting Home
The largest transfer of wealth in history is not coming. It is here. Cerulli Associates projects about $124 trillion changing hands through 2048, with trillions already moving every year and the pace accelerating toward a peak in the mid-2030s. Visa's economists put boomer holdings at more than $93
How to Avoid Being House Poor (Even When Everyone Says You Can Afford It)
I was talking with a client about his situation. Good income, nice house, and every month still felt tight. Savings never grew. Every repair went on a card. Vacations kept getting pushed to next year. A friend listened to me describe it and said, "You know you're describing being house poor, right?"
What Happens to Your Family's Home If You Die Without Life Insurance?
A while back, a woman I will call Rachel lost her husband, Paul, to cancer. (Her name and his have been changed here, out of respect for their privacy.) They had two kids and a home and the same mortgage most families carry. What they also had, because Paul set it up before he ever got sick, was a l
How Lenders Actually Count Overtime, Bonus, and Side-Gig Income
A friend of mine, Jason (this is actually his real name, but I think there are too many to know for sure who he is), spent weeks fighting with his lender over money he had actually earned. He works overtime. A lot of it. But the lender he picked did not really understand how his income worked, so Ja
Can I Buy a Rental Property While Still Paying Off My Own Mortgage?
A friend of mine, I will call him Tom (and yes, you better believe that's not his real name), was about to move into a new home and had a decision to make about the house he was leaving. He could sell it, or he could keep it and rent it out. On paper it looked like easy money. He had built up equity
How to Buy and Sell a House at the Same Time (Without Getting Stuck)
A while back I worked with a couple, John and Jane Smith, who were ready to move up. (And I'd be really impressed if you know the movie reference used to protect my client's names.) Good income, plenty of equity, and a house that would sell fast. We found three homes they loved. They missed on the f
Should I Refinance My Mortgage? How to Know If It Actually Makes Sense
A friend named Lenny (and yes, his name has been changed to protect the innocent) refinanced his mortgage to lower his monthly payment. On paper it looked like a clear win. Lower rate, lower payment, why not. What his mortgage rep never explained was that the closing costs were getting rolled into t
How Much Life Insurance Does a Homeowner Need?
My wife's friend lost her husband unexpectedly. He had a $1,000,000 life insurance policy. That policy is not going to take care of their family for the rest of their lives. But it gave his wife something that most people in that situation do not get: time. She does not have to sell the house immedi
How Does a HELOC Work and Should You Get One?
My wife and I are planning to buy before we sold and move into a bigger home. We have a second child on the way and we want more space. We also have investments we have been building for years, index funds purchased at prices from four or five years ago, and we did not want to liquidate them to cove