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Money and Finances
Reply to "Money advice after kids gone to college"
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[quote=Anonymous][quote=Anonymous]Our youngest is about to go to college. We have a house worth around 4.3 million (1.6 million outstanding), Investments, 529, etc. around 800K and 1.5million in 401k. House is very big and considering what we should do with it since we're not sure we want to stay around the area (major city). Husband consulting and income varies. Last few years it's been slow and he hasn't brought in enough so we've had to dip into savings. What would you do? Sell house and buy something smaller in same location/different location? Rent house (should make a decent profit if we rent as mortgage is low) and try out a different location? Sell house and invest the $. We are mid 50's.[/quote] I would definately sell the house and downsize! Your house is worth way more than your retirement plans. You need to get that money out of the house and invested (and not tied up with your place to live). [/quote]
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