XY Planning Network and Cashing Out 401k to Pay Off Debt

Exploring the XY Planning Network and discussing whether cashing out a 401k to pay off credit card debt is a viable option, along with alternative solutions.

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Financial advisors are supposed to look after your money, but sometimes, their profits come first. We’ve had many questions about which type of financial advisors to use, which aren’t worth the fee, and whether you even need one in the first place. On this Finance Friday episode, Mindy and Scott are taking questions directly from listeners like you, and one of the top ones finally answers the question: what are these “fees” financial advisors are charging me!?

You’ve got money questions. Scott and Mindy have answers. In this episode, they’ll touch on topics like which type of financial advisor to hire, whether cashing out your 401(k) early is ever worth it, what to do when your bank messed up your interest rate, when (and when not) to use LLCs for real estate investing, and how to start investing in stocks when you’ve only got $1,000!

Got a money question you want to ask Mindy and Scott? Head over to the BiggerPockets Money Facebook group, or click here to submit your question on our next Q&A episode!

In This Episode We Cover

How to start investing in the stock market with $1,000 (or less!)

Rental property LLCs and why you’re probably wrong about “tax write-offs”

Financial advisor fees and the ONLY type of financial advisor we’d recommend

Cashing out your 401(k) early when you need to pay off credit card debt

Return on equity explained and signs it’s time to sell/refinance a property

And So Much More!

Links from the Show

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