• Sudden Wealth, Vacation Homes, and New Year's Resolutions: The 2024 Finale

  • Dec 20 2024
  • Length: 35 mins
  • Podcast

Sudden Wealth, Vacation Homes, and New Year's Resolutions: The 2024 Finale

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  • Summary

  • In this final episode of 2024, hosts AJ and John explore the complexities of handling sudden unexpected windfalls, major financial decisions like purchasing a home (or vacation home), and some last-minute year-end planning tips.

    Key Moments & Topics:

    0:00 Show introduction and 2024 wrap-up

    • The psychology of sudden wealth and how to avoid common pitfalls

    4:35 Handling unexpected windfalls

    • Smart strategies for managing capital injections without lifestyle inflation

    9:15 Home purchasing strategies

    • The 20% down payment rule and affordability considerations

    16:05 The vacation home debate

    • The "6 weekend rule" and why rental income shouldn't factor into your decision

    20:33 Year-end financial planning

    • Last-minute FSA spending and charitable giving strategies

    25:56 Looking ahead to 2025

    • Personal reflections and intentional goal setting

    Plus, they share their own experiences transitioning roles at BKFi and lessons learned from 2024.
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