Ep177 “Why Include Buying a Home as a Part of Your Financial Portfolio?”
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To wrap up our discussion for this month on financial planning, today we take some time to discuss why owning your own home is a very crucial aspect of your financial plan and why renting should never be the long-term game plan when it comes to your financial portfolio! TALKING POINTS (3-5):
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- Introduction
- Include that next week is our traditional Halloween episode, which is why this week is the last week we will be talking on financial planning!
- Why do you need to have your own home as a part of your financial portfolio?
- Building equity in a home
- Options available to you if you need cash throughout your life:
- Cash out re-fi
- HELOC
- Home equity loan
- When you sell your home, you get to keep the net proceeds
- If you own your home free and clear, that is a great deal of money coming back to you at closing!
- Options available to you if you need cash throughout your life:
- Appreciation
- Tax deductions and capital gains exclusions
- Adds to your net worth!
- Your mortgage payment will be more set than a rental payment
- Building equity in a home
- Final thoughts
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