Build Financial Independence, Escape the 9-to-5, and Live Your Boldest Dreams
Morgan Housel has spent thousands of hours reading about investing.
As a former columnist for the Wall Street Journal and The Motley Fool, he’s spent more than a decade reading, interviewing, thinking and writing about how to manage money.
And he’s come to a simple conclusion: less is more.
Doing nothing is often the best course of action.
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Former financial advisor Joe Saul-Sehy joins me to answer audience questions about investing strategies, early retirement, and tax planning.
Whitnee asks:
I’m 31, and my husband and I save half of our combined income. We’ve maxed out our H.S.A. accounts and we’re getting an employer match in our 401k. We have $80,000 stashed as cash in a checking or low-yield savings account.
We’re paying nearly $2,000 per month for insurance policies, most of which is a whole life insurance policy. We have a rental property that cash flows $210 per month; we pocket $150 and use the other $60 as an extra principal payment.
What should we do differently? How can we learn about investing? What funds should we focus on? Should we sell our rental property and invest the proceeds, or hold onto this? If we hold, should we focus on repaying the mortgage as quickly as possible?
