Comments on: Contemplating a Big Financial Move http://fabulousfinancials.com/2009/11/contemplating-a-big-financial-move.html A single woman on a mission to become healthy & wealthy. Sat, 13 Mar 2010 17:44:51 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: johnson http://fabulousfinancials.com/2009/11/contemplating-a-big-financial-move.html/comment-page-2#comment-72490 johnson Sun, 06 Dec 2009 06:58:40 +0000 http://fabulousfinancials.com/?p=3906#comment-72490 have u thought about buying a rental property? have u thought about buying a rental property?

]]> By: Ladya70 http://fabulousfinancials.com/2009/11/contemplating-a-big-financial-move.html/comment-page-2#comment-72409 Ladya70 Fri, 27 Nov 2009 12:59:52 +0000 http://fabulousfinancials.com/?p=3906#comment-72409 I'm in dang near the exact situation as you but I only have a first mortgage on my rental and the balance was $118K until I dropped $18K of my savings on it. Realiza this $18K was only part of my liquid savings but it's still alot of money to the single mother of a just turned 17 year old daughter. My main reason is because I want to start purchasing income producing assets as it talk about in Rich Dad Poor Dad. So if I were you I would at pay off the 2nd, build your account back up and then focus on paying the mortgage off completely. I’m in dang near the exact situation as you but I only have a first mortgage on my rental and the balance was $118K until I dropped $18K of my savings on it. Realiza this $18K was only part of my liquid savings but it’s still alot of money to the single mother of a just turned 17 year old daughter. My main reason is because I want to start purchasing income producing assets as it talk about in Rich Dad Poor Dad. So if I were you I would at pay off the 2nd, build your account back up and then focus on paying the mortgage off completely.

]]> By: Mz. Seoul2Soul http://fabulousfinancials.com/2009/11/contemplating-a-big-financial-move.html/comment-page-2#comment-72364 Mz. Seoul2Soul Tue, 24 Nov 2009 06:44:44 +0000 http://fabulousfinancials.com/?p=3906#comment-72364 I worked for A....( excuse me - clear my throat - a large financial outfit) and what got their panties in a bunch in the end was lack of liquidity. Nothing gives you more comfort and freedom than knowing you have access to quick cash on your own terms when you need it and want it. I don't think you ever want to be in a position where you have to borrow cash until you liquidate your assets. The real question for me would be " how much emergency cash do I need"? But I have a feeling you already made your decision - right? I worked for A….( excuse me – clear my throat – a large financial outfit) and what got their panties in a bunch in the end was lack of liquidity. Nothing gives you more comfort and freedom than knowing you have access to quick cash on your own terms when you need it and want it. I don’t think you ever want to be in a position where you have to borrow cash until you liquidate your assets. The real question for me would be ” how much emergency cash do I need”? But I have a feeling you already made your decision – right?

]]> By: Mz. Seoul2Soul http://fabulousfinancials.com/2009/11/contemplating-a-big-financial-move.html/comment-page-2#comment-72362 Mz. Seoul2Soul Tue, 24 Nov 2009 06:33:29 +0000 http://fabulousfinancials.com/?p=3906#comment-72362 Cash is King! Put a little more each month towards the second and keep the cash Cash is King! Put a little more each month towards the second and keep the cash

]]> By: dogatemyfinances http://fabulousfinancials.com/2009/11/contemplating-a-big-financial-move.html/comment-page-2#comment-72352 dogatemyfinances Mon, 23 Nov 2009 02:31:45 +0000 http://fabulousfinancials.com/?p=3906#comment-72352 I would wait until BG's college funding is said and done to implement the mortgage payoff, but it sounds good. I doubt that liquid cash would matter in the calculation because they look at the house equity and your retirement funds, anyway. A few months more on that mortgage is no big deal, right? <strong>Liquid cash is THE most important element, next to the family's AGI because it is an asset that is easily transferable to fund college expenses. And FAFSA does NOT include home equity (primary residence) OR retirement funds in the EFC calculation. However, the negative home equity on a rental would probably help us out. [-SM]</strong> I would wait until BG’s college funding is said and done to implement the mortgage payoff, but it sounds good. I doubt that liquid cash would matter in the calculation because they look at the house equity and your retirement funds, anyway.

A few months more on that mortgage is no big deal, right?

Liquid cash is THE most important element, next to the family’s AGI because it is an asset that is easily transferable to fund college expenses. And FAFSA does NOT include home equity (primary residence) OR retirement funds in the EFC calculation. However, the negative home equity on a rental would probably help us out. [-SM]

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