Why I used part of my $50,000 inheritance to buy a house - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 51%

대한민국 뉴스 뉴스

'I still feel that using part of the inheritance to help purchase a home outweighed whatever potential the money could have had invested or the interest I would have saved on my low-interest student loans'

While in Ireland he was able to travel, and took my two brothers with him for a three-month long trip around Europe. Because of the diligent saving in hisAfter he passed, he left the remainder of his 401 to me and my two brothers. Although I inherited around $50,000 and had roughly the same amount of student-loan debt, I decided to keep most of that money invested instead of paying off my loans in full, and I'm glad I did.

My then-boyfriend and I were renting a small one-bedroom apartment and before our lease was up we needed to decide if we were signing on for another year or purchasing a home. I had been saving in my ownand knew there was a special rule that allowed me to withdraw $10,000 without penalty or additional taxes to put towards a first-time home purchase.

When we bought our first home we paid $210,000. Five and a half years later we sold it and netted roughly $80,000. That money helped us purchase our next home as well as, which ended up being great timing with the COVID-19 pandemic a few months around the corner. Also, taking the money that was invested in the stock market to pay off loans that had much lower interest rates than the rate the market was returning seemed like an irresponsible thing to do. I wanted the money to continue to earn and know that if I needed it down the line for something else I could access it.

 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.
이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 729. in KR

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Inside the wealthy's weird, pricey pandemic purchases - Business InsiderBusiness Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
출처: BusinessInsider - 🏆 729. / 51 더 많은 것을 읽으십시오 »

Photos show pro-Trump rioters inside Senate chamber - Business InsiderBusiness Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. Where tf is police?
출처: BusinessInsider - 🏆 729. / 51 더 많은 것을 읽으십시오 »

Photos show the destruction inside of the US Capitol Building - Business InsiderBusiness Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. Attempted coup? You mean that band of idiots taking selfies wanted to take over the government?
출처: BusinessInsider - 🏆 729. / 51 더 많은 것을 읽으십시오 »

Inside Arbol Market, a climate change-focused insure-tech startup - Business InsiderA new start-up run by a former Citadel quant is trying to create a better way for farmers to protect their crops from climate change
출처: BusinessInsider - 🏆 729. / 51 더 많은 것을 읽으십시오 »

How a year of rising tension inside Google led to its first union - Business InsiderGoogle once stood for 'Don't be evil.' Insiders describe how it spiraled into a culture of mistrust that helped build a union aiming to keep management in check. thanks Google is EVIL. They may try to show it otherwise, but ask the black folks and other minorities who work there how they feel about working in this Gulag. It’s too big, needs to be regulated.
출처: BusinessInsider - 🏆 729. / 51 더 많은 것을 읽으십시오 »

Inside Red Cedar, a new quant hedge fund from Alexander Chernyy - Business InsiderHow this new hedge fund led by a former WorldQuant and Jefferies executive is uncovering new datasets to avoid the pain that hit quants in 2020
출처: BusinessInsider - 🏆 729. / 51 더 많은 것을 읽으십시오 »