In this episode of Friends Talk Financial Planning, John and Bridget talk about whether a 50-year mortgage is a financially smart idea, and if so, who would benefit the most from it. Some people argue in favor of 50-year mortgages for increased accessibility and inflation protections. Others argue against them for concerns about equity and other underlying issues. Don't miss this opportunity to parse through the advantages and disadvantages of 50-year mortgages! Resources:

Thinking about refinancing your mortgage? Bridget and John dive into the pros and cons of refinancing and help you determine if it's the right move for you. Join us as we discuss adjustable rate mortgages (ARMs), the benefits of a fixed 30-year mortgage, and key considerations when deciding whether to refinance. If you found this video helpful, please give it a thumbs up and hit that subscribe button. And be sure to check out the Alliance of Comprehensive Planners for more f

In this episode of Friends Talk Financial Planning, John Scherer and Bridget Sullivan Mermel dive into the intricate balance between making financially sound decisions and honoring our emotions and personal values. They discuss the scenario of paying off a mortgage early, the importance of liquidity and emergency funds, the emotional attachment to concentrated stock positions, and the significance of being intentional with financial choices. As they share their insights, they

In this episode of FTFP, John and Bridget discuss the challenges of selling a house and offer their insights and advice. From pricing strategies to considering carrying costs, they delve into the emotional and financial aspects of selling a property. Join them as they explore the decision-making process and the importance of taking into account the value of time and effort. Don't miss out on their valuable tips! Episode about Bridget selling her house: https://youtu.be/6dxsm

In this episode of Friends Talk Financial Planning, Bridget shares her personal experience of buying a house and the financial planning lessons she learned along the way. With the current real estate market characterized by low inventory and high interest rates, Bridget breaks down these factors and their impact on the buying process. She also discusses the unique circumstances of sellers in today's market and the challenges they may face in transitioning out of their homes.

Should you pay off your mortgage before you retire? Is it best to pay of your mortgage before retiring? What are the pros and cons of keeping your mortgage? What does the latest happiness research say about mortgages and happiness? By the end of this episode you should have insight into the plusses and minuses of paying off your mortgage. In this episode we talk about when retirees should not pay off their mortgage, the pros and cons of paying of your mortgage befo

Inflation is high; we discuss the strategy we both use to help clients understand and plan for it. We haven't seen inflation figures like this in 30 years. Before figuring out your investment strategy, the first step is to look at the underlying emotions evoked by talk of inflation. The #1 question to ask yourself is: what is it that I’m ACTUALLY afraid of? a. …of being dumb with my money? b. …of not being able to afford things in the future? c. …of running out of money

Mortgage interest rates are at record lows, so we're getting this question a lot, and encouraging a lot of people to look into it! Our main example is a 500K mortgage that you got 10 years ago. Is it worth the effort to refinance now, when you've paid a lot of the interest already? We go over the advantages and disadvantages of refinancing with another 30 year mortgage or refinancing with a 20 year mortgage. Also check out t his related post that covers--what to ask mortga

Saving money on state income tax, property tax and other Chicago fees when you retire in Chicago--that's what Kyle Harvey and Anne...

Originally published in 2009, the author updates this with new information periodicaly

The biggest mistake people make when buying a house is over-buying.

Terri and David came in for a meeting with me. They were expecting a baby and wanted to buy a house. They had their eye on a $500,000...

Don't buy real estate because you think it's an easy way to make money while in your underwear watching TV while eating Cheetos.

Following up on my post about what to ask mortgage brokers, the Wall Street Journal has an interesting article on the current state of...

I'm not very interested in predictions about how long the current economic downturn is going to last. What I'm interested is in the...