This or that? Depending on who you listen to, you may have heard a variety of opinions on these financial debates. Eric shares his thoughts on debt, mortgages, life insurance, and mutual funds.
(Click the featured times below to jump forward in the episode)
[1:06] – IN THE NEWS: STUDENT LOAN DEBT
- Bernie Sanders wants to forgive about $1.6 trillion in student loan debt. Is this a good idea or realistic?
- Who is going to pay for it?
- The first rule you should learn about taking out loans.
- Eric gives his take on the topic.
[3:55] – PAY OFF DEBT OR BUILD UP SAVINGS?
- Both are important but here’s how you treat yourself.
- Strategy you should use in your life.
[5:00] – KEEP A MORTGAGE OR PAY OFF HOUSE AS QUICKLY AS POSSIBLE
- Why do people say mortgage debt ‘better’ than other types of debt?
- Eric shares a client example of someone wanting to pay off their mortgage with retirement account money.
- Is it advantageous to refinance?
[7:11] – TERM LIFE INSURANCE VS PERMANENT LIFE INSURANCE
- What is term life insurance?
- When would term life benefit you?
- What type does Eric carry?
- What is permanent life insurance?
- Both have advantages and disadvantages.
[8:54] – MUTUAL FUNDS: GOOD OR BAD?
- What can mutual funds provide and are they still as solid as they used to be?
- Are exchange-traded funds better?
- With mutual funds, the actions of others can impact you.
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