I’ve been saying this for years as I’ve worked with so many in this spot: Your 40s are the most stressful decade of your life.
Your income is at its highest point so far, your career and responsibilities are expanding.
The kids are growing up, they require your presence, your parents may be entering a stage where they need more support and you’re just hoping for 30 mins for yourself every night.
On top of it all, you’re reading the headlines:
- Where you should be
- What you should have
- What life should look like
“We’re doing a lot, but we don’t really know if we’re doing it well or if we’re on track?”
The best piece of advice I can give you, whether it’s working with us or another trusted financial advisory firm, please get a high-quality financial plan in order and you’ll feel an immense sense of relief.
I’ve seen it hundreds of times, watching stress literally disappear is one of the most gratifying moments in my job.
“Ughh, should we move or remodel?”
The most common conversation right now, by a landslide.
Families have their 3% mortgage and they’re not giving it up. They love their neighborhood, the kids are settled, school district’s perfect, moving’s awful..
But the house: It either doesn’t quite fit anymore and/or needs an upgrade.
1) Do we move, buy more house, and take on a 6–7% mortgage, or
2) Invest $200k–$400k and renovate?
Then comes the follow-up:
A) Should we use cash / brokerage?
B) Do we tap equity?
C) Does this delay financial independence?
For many of our clients, the home reno makes absolute make sense.
But before committing to the GC using your cash or selling investments, or hitting the bank for a ReFi, let us make this whole thing a part of your overall plan and figure out what’s best for your situation: Interest rates, flexibility, budget, taxes, liquidity, timeline, etc.
Stay disciplined. Trust the process.
–Nic
