Whether you’ve never purchased a home before or just don’t know much about the process, we’ve got a treat for you today. We’re going to dive into everything mortgages 101 today, like PMI, the negotiability of fees, and the lie that everyone quoting rates is telling (those rates “might not be what you think they’d be.”) On today’s show we welcome the guy who’s teaching us everything millennials need to know about mortgages, Jeff VanNote.

During our headlines segment, we’ll start with one piece detailing how Americans would spend a life changing sum of money. Do you know how you would spend yours? In our second headline, we talk to head of retirement research from Carson Wealth, professor Jamie Hopkins. Could you be on the hook for your parents’ long term care? Plus, in a special third headline, one Florida man received a $980,000 tax refund. Before you start asking how you can cash in like he did, you’ll want to find out the rest of that story.

Later on we’ll field a Haven Life Line call from Michael, who has $5,000 in savings. He’s put in about $500 into Acorns so far to start investing, but should he be doing more? And in our letter segment, Allen tells us how he’s been socking away $100 per month since his daughter has been born. She’s going off to college in a couple of years, and Allen wants to keep socking away $100 for her in a Roth IRA once she graduates. Where’s the best place to start the account?

As always, we’ll still save some time for Doug’s (completely epic) trivia.

MagnifyMoney

Thanks to MagnifyMoney.com for sponsoring Stacking Benjamins. MagnifyMoney.com saves users on average $450 when they compare, ditch, switch and save on credit cards, student loan refinancing, checking, savings and more. Check out MagnifyMoney.com for your savings.

Thanks to LinkedIn for supporting Stacking Benjamins.  Go to LinkedIn.com/sb and get a $50 credit toward your first job post.

Show Notes:

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Thanks to MagnifyMoney.com for sponsoring Stacking Benjamins. MagnifyMoney.com saves users on average $450 when they compare, ditch, switch and save on credit cards, student loan refinancing, checking, savings and more. Check out MagnifyMoney.com for your savings.

LinkedIn

Thanks to LinkedIn for supporting Stacking Benjamins.  Go to LinkedIn.com/sb and get a $50 credit toward your first job post.

Check out LinkedIn

<> Headlines

• This is how Americans would spend a ‘life-changing’ sum of money (NY Post)
• Florida man who self-prepared his taxes received a $980,000 refund, U.S. attorney says (USA Today)
• A big thanks to Jamie Hopkins for helping us out with our headlines today. You can find his piece that we discussed on Forbes: You Might Be On The Hook For Your Parents’ Nursing Home Costs

<> Jeff Vannote

Thanks to Jeff for stopping by the basement. You can find more from Jeff at his site: TheMortgageQuarterback.com

Looking for Jeff’s book, The Mortgage Playbook for Millennials? Click below:

<> Haven Life Line

• Michael has about $5,000 in savings. He’s starting to test out the Acorns app for investing. So far he’s put in about $500. Should Michael be doing more with his savings?

<> Letter

• Allen has been saving into his 16 year-old daughter’s college fund since she’s been born. Allen plans to continue to invest $100 a month for her in a Roth IRA once she graduates high school. Where would be the best place to start the account?

Join us Wednesday!

We keep tackling your letters, and the mailman keeps delivering them by the truckload. (No complaints here!) We’re taking on everything from big investment questions and real estate, to ETFs and social security… and that’s just our letters. Tune in for a big one on Wednesday!