Ep.51- Q&A with James Gilbert

Welcome back to another episode of the Wealthy Homes Podcast! I'm your host, Conor Bauserman, joined by James Gilbert, another financial advisor here at PFG. Today, we're diving into some anonymous questions submitted by our listeners.

First up, we discussed a couple considering having one parent stay at home with their kids. With a solid financial foundation, including no debt except for a manageable truck payment, we encouraged them to go for it, emphasizing the priceless value of spending time with young children.

Next, we shared our thoughts on the current state of the real estate market and the dilemma of buying below the 20% down payment threshold. We advised not to obsess over timing but rather to focus on finding a home that fits your needs and financial capabilities.

Moving on, we addressed a listener's question about how much to contribute to their 401k after a pay raise. We recommended aiming for around 10-15% of income, emphasizing the importance of long-term financial planning and aggressive investment strategies for growth.

Then, we tackled the issue of handling student loan debt, emphasizing the urgency of paying it off as quickly as possible. We discussed strategies like the snowball and avalanche methods to efficiently tackle multiple loans with varying interest rates.

Finally, we delved into the topic of managing finances as a married couple, stressing the importance of combining finances to work towards shared goals. We suggested regular financial meetings and open communication to ensure alignment and accountability.

It was a great discussion covering a range of important financial topics. Remember, if you have questions of your own, feel free to submit them anonymously through our link tree on Facebook or LinkedIn, or here. Thanks for tuning in, and we'll catch you in the next episode!

 

The advice given is not personalized financial advice but rather general guidance based on the information provided. This episode is for informational and educational purposes only. Securities & Advisory Services offered through Harbour Investments, Inc. Member SIPC.