Catherine

Hi, Rachel and Jade. Thank you for taking my call. I am beyond thrilled to have the two of you answer my question.

Hi, Rachel and Jade. Thank you for taking my call. I am beyond thrilled to have the two of you answer my question.

OK, so I have a scenario that I have not heard and I have been wanting to pick your brain for a long time. I my question is basically simply what is the next best move to make based on your advice? And my situation is I am 63 years old. I have moved back into a property I've owned for 28 years to establish. I had it. It was a rental property.

OK, so I have a scenario that I have not heard and I have been wanting to pick your brain for a long time. I my question is basically simply what is the next best move to make based on your advice? And my situation is I am 63 years old. I have moved back into a property I've owned for 28 years to establish. I had it. It was a rental property.

OK, so I have a scenario that I have not heard and I have been wanting to pick your brain for a long time. I my question is basically simply what is the next best move to make based on your advice? And my situation is I am 63 years old. I have moved back into a property I've owned for 28 years to establish. I had it. It was a rental property.

I moved back in to establish it as my primary residence to save $80,000 in taxes. Okay. Okay. Because of it not being my primary residence, I wouldn't. Okay.

I moved back in to establish it as my primary residence to save $80,000 in taxes. Okay. Okay. Because of it not being my primary residence, I wouldn't. Okay.

I moved back in to establish it as my primary residence to save $80,000 in taxes. Okay. Okay. Because of it not being my primary residence, I wouldn't. Okay.

Now, I don't own another property. I have $50,000 in retirement. I have an account that has $200,000 non-retirement. I spent $30,000 plus... Well, actually $40,000, $50,000. I've spent $60,000 so far and I'm a year in. Like your living expenses. Is that what you're saying, Lori? It takes $60,000 for you to live. Is that right?

Now, I don't own another property. I have $50,000 in retirement. I have an account that has $200,000 non-retirement. I spent $30,000 plus... Well, actually $40,000, $50,000. I've spent $60,000 so far and I'm a year in. Like your living expenses. Is that what you're saying, Lori? It takes $60,000 for you to live. Is that right?

Now, I don't own another property. I have $50,000 in retirement. I have an account that has $200,000 non-retirement. I spent $30,000 plus... Well, actually $40,000, $50,000. I've spent $60,000 so far and I'm a year in. Like your living expenses. Is that what you're saying, Lori? It takes $60,000 for you to live. Is that right?

Oh, I spent $60,000 above and beyond what I bring in on my income because I actually put the house on the market because I thought this is ridiculous and upside down and against my money philosophies. And, uh, it fell out of escrow twice cause there was a repair, just, you know, things happen in real estate. So I had to spend money.

Oh, I spent $60,000 above and beyond what I bring in on my income because I actually put the house on the market because I thought this is ridiculous and upside down and against my money philosophies. And, uh, it fell out of escrow twice cause there was a repair, just, you know, things happen in real estate. So I had to spend money.

Oh, I spent $60,000 above and beyond what I bring in on my income because I actually put the house on the market because I thought this is ridiculous and upside down and against my money philosophies. And, uh, it fell out of escrow twice cause there was a repair, just, you know, things happen in real estate. So I had to spend money.

Well, a part of that was fixing it. And part of that was, uh, you know, just, um, an additional to just keep the house running with insurance and, um,

Well, a part of that was fixing it. And part of that was, uh, you know, just, um, an additional to just keep the house running with insurance and, um,

Well, a part of that was fixing it. And part of that was, uh, you know, just, um, an additional to just keep the house running with insurance and, um,

uh you know uh utilities and whatnot so what is it costing you now to live there like what's the payment or is okay it okay so uh it cost me thirty eight hundred dollars to maintain the house a month and a month okay and that's rent and what that's what is that rent and utilities or is there something else we need to know about that goes into maintaining it

uh you know uh utilities and whatnot so what is it costing you now to live there like what's the payment or is okay it okay so uh it cost me thirty eight hundred dollars to maintain the house a month and a month okay and that's rent and what that's what is that rent and utilities or is there something else we need to know about that goes into maintaining it

uh you know uh utilities and whatnot so what is it costing you now to live there like what's the payment or is okay it okay so uh it cost me thirty eight hundred dollars to maintain the house a month and a month okay and that's rent and what that's what is that rent and utilities or is there something else we need to know about that goes into maintaining it