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Answering Your Top Money Questions: Retirement, Home Equity, and Smart Investing (#353)
Manage episode 445385591 series 3320629
Contenuto fornito da A.B. Ridgeway, CPWA®️, MBA, A.B. Ridgeway, and MBA. Tutti i contenuti dei podcast, inclusi episodi, grafica e descrizioni dei podcast, vengono caricati e forniti direttamente da A.B. Ridgeway, CPWA®️, MBA, A.B. Ridgeway, and MBA o dal partner della piattaforma podcast. Se ritieni che qualcuno stia utilizzando la tua opera protetta da copyright senza la tua autorizzazione, puoi seguire la procedura descritta qui https://it.player.fm/legal.
In this episode of Financial Advisors Say The Darndest Things, A.B. Ridgeway, your host and favorite Christian Financial Advisor, dives deep into some of the most pressing financial questions from our listeners. From navigating the differences between a home equity loan and a home equity line of credit, to choosing the right short-term investments for retirement, A.B. offers sound advice and practical insights. Whether you’re near retirement or just starting to invest, this episode has something for everyone.
Key Takeaways:
- Short-Term vs. Long-Term Investments: Understanding the right investment for your time horizon is crucial. Short-term investments like CDs or money market accounts are ideal for those nearing retirement, while longer-term investments are better suited for those with time on their side.
- Home Equity Loan vs. Line of Credit: A home equity loan gives you a lump sum at a fixed rate, while a line of credit works like a credit card, allowing you to borrow against your home's equity as needed.
- Start Investing Early: For young professionals in their 20s, starting to invest in a 401k or other investment vehicles early can build long-term value, even if their employer doesn’t offer matching contributions.
Notable Quotes:
- "The biggest mistake that investors make is putting long-term money in short-term vehicles and short-term money in long-term vehicles." – A.B. Ridgeway
- "When it comes to home equity loans, you get the money all at once, while a line of credit allows you to use it as needed, almost like a credit card." – A.B. Ridgeway
- "Make sure you're aware of your company's benefits. Many contribute to their 401k assuming there's a match, but 75% of companies don't offer one." – A.B. Ridgeway
Disclaimer: The information shared in this episode is for educational purposes only and should not be considered financial advice. For personalized guidance, please seek a certified financial advisor.
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*Disclaimer: This communication is not intended as an offer or solicitation to buy, hold or sell any financial instrument or investment advisory services. Any information provided has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets or developments mentioned. This is strictly for information purposes. We recommend you speak with a professional financial advisor.
Video/Audio Credit: CBS Pittsburgh
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