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Ask HTM - Mass Government Layoff Triage, If Declining Rental Income Is Still Worth It, and Generating Passive Income #958

10 snips
Mar 17, 2025
Listeners dive into pressing financial queries! Discover steps to take after a job loss due to mass layoffs. Is holding onto that rental condo wise amidst declining income? Explore investing options for generating passive income, like REITs or ETFs. The hosts share insights on the worth of the Costco Visa and weigh the pros and cons of buying versus renting a home. Finally, enjoy some light-hearted banter on personal grooming, beer ratings, and the importance of professional financial guidance.
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ADVICE

Job Hunting

  • Don't feel pressured to accept the first job offer after a layoff.
  • A robust emergency fund allows you to be selective and find the right fit.
ADVICE

Debt and Retirement During Unemployment

  • Maintain minimum debt payments but halt retirement contributions during unemployment.
  • Prioritize cash on hand and liquidity when income is uncertain.
ADVICE

Selling Rental Property and Taxes

  • Consider selling a rental property before a tax deadline to avoid capital gains.
  • Weigh the benefits of tax-free gains against long-term income potential.
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