People will hunt all over town for the best prices on paper towels and peanut butter, and that’s great. A penny saved is a penny earned. But we won’t spend a minute comparison-shopping for the biggest purchase we will ever make. We’re talking about home buyers just taking the first mortgage interest rate that’s offered to them. Today on MoneyWise, Rob West and Steve Moore get to the bottom of this conundrum. Next, they answer your questions at (800) 525-7000 and Questions@MoneyWise.org about the following:
- I’m a retiree on fixed income. I just paid off my car loan, and I now have $300 per month extra. What should I do with it?
- My wife and I are planning on moving in a couple of years. We have our primary house and rental house. If I sell both houses and roll that money into a primary residence in our new city, will I pay capital gains tax on the rental?
- Can you tell me the pros and cons of annuities?
- I have always been self-employed. I recently sold a business, and the proceeds from the sale was $125,000. I have $50,000 in Roth IRAs. What is the best use of the $125,000?
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