Move to Cash, Retirement Travel Spending, Real Estate & Taxes, Mortgage Tax Deduction – Mailbag Episode

<p class="MsoNoSpacing"><span style= "font-size: 14.0pt; font-family: 'Arial',sans-serif; mso-bidi-font-style: italic;"> We’re back with another mailbag episode today! Join us as we tackle a range of topics- from navigating investments during significant life changes to figuring out a retirement travel spending amount, this episode covers a lot of ground. Scott is here to answer your questions, so stick around to see what you can learn.</span></p> <p class="MsoNoSpacing"> </p> <p class="MsoNoSpacing"><strong><span style= "font-size: 14.0pt; font-family: 'Arial',sans-serif; mso-bidi-font-style: italic;"> Here are the questions we’ll answer on today’s show:</span></strong></p> <ul> <li class="MsoNoSpacing"><span style= "font-size: 14.0pt; font-family: 'Arial',sans-serif; mso-bidi-font-style: italic;"> I have a lot of major life changes occurring in the next six months that I think will affect how I should be invested. Should I just park my money in cash until life settles down?</span></li> <li class="MsoNoSpacing"><span style= "font-size: 14.0pt; font-family: 'Arial',sans-serif; mso-bidi-font-style: italic;"> How much is a reasonable amount to spend on travel in retirement?</span></li> <li class="MsoNoSpacing"><span style= "font-size: 14.0pt; font-family: 'Arial',sans-serif; mso-bidi-font-style: italic;"> My mom died two years ago, and my three sisters and I inherited her house. I've always wanted to sell it, but they're worried about the tax implications of selling the house. How do I explain that it won’t hurt us from a tax perspective?</span></li> <li class="MsoNoSpacing"><span style= "font-size: 14.0pt; font-family: 'Arial',sans-serif; mso-bidi-font-style: italic;"> I've been told that I need to make sure I have a mortgage when I retire because that will be the only tax deduction I'll have at that point. I've been paying extra for my house to have it paid off by the time I retire. But maybe I should slow down on that plan? </span></li> </ul> <p> </p> <p><span style="font-size: 14pt;"><strong>Want to get in touc