67-Year-Old with $1.4M. Can They Afford a Second Home?

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Mike and Tammy, aged 67 and 62, have saved $1.4 million and are considering purchasing a second home in Florida. In this video, we break down their financial situation and explore whether buying a home outright or financing makes the most sense for them. We discuss the factors they need to consider, such as taxes, mortgage options, and additional expenses of owning property in Florida. Watch as we guide Mike and Tammy through their decision-making process and reveal their "green light" verdict on whether they can afford to make this move in retirement.
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DISCLAIMER: This video is for informational and educational purposes only. It does not contain investment advice or constitute a recommendation of any investment strategy. Investing involves risk of loss and past performance is never a guarantee of future results/returns. The strategies discussed may not be right for you, and your personal circumstances should be considered before the adoption of any investment or tax strategy. You should review all tax decisions with your accountant, counsel, or tax advisor. Investment advisory services provided by Great Lakes Retirement, Inc., an SEC-Registered Investment Advisor. Insurance and tax planning services provided by W.A. Smith Financial, LLC. You can read more here: wasmithfinanci...

[@USMCAllTheWay]

HOAs and H.O. insurance are going up substantially in Fla.,and will continue to do so.