San Diego Home Buyer Alert: Does Your Plan 'A' Need a Plan 'B' in 2021?
In this video I offer suggestions on what might be a great idea for those invested in the stock market, are seeing horrible returns, are tired of the up and down roller coaster, and want to take advantage of incredibly low interest rates.
Before I go on, a client with a great job, good income, and putting some money in stocks today, as well as their 401(k) for later contacted me, was frustrated, and wanted a second opinion.
(And, I am not licensed to deliver pizza, amputate your pinky, offer complicated tax advice, or fly to the moon, just sage observations after seeing hundreds and hundreds of different scenarios...)
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Here's their overall scenario:
They were "playing" the stock market and always seemed to choose the wrong stock and have been down for several years (even though the news says stocks are at all time highs.)
They are invested in their companies 401(k) but with such limited options available it has barely moved past 0.07% return for years.
They have credit card debt over $30,000 at 27.99%
They rent a 3 bedroom/2 bathroom home for $3500 per month
(In the video I go over some ideas and suggestions they might want to think about, go over, and run by their significant other.
And, here's the steps they decided to take after I recommended them:
Get your latest statement and check your returns
On your statement is a phone number to the company - give them a call and see if taking out money is possible
Ask them what the fees are, the terms of the loan, how its paid back, and how quickly you get the money
Wire the money to your bank account, get a copy of your terms from them, apply for your mortgage loan.
Once you know your loan, and terms, search for real estate
What do you think?
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