Yesterday, 02:47 PM
An extra $500K up front minus 37% tax would allow him to pay cash for a $315K house for his mom saving over $400K in interest on a 30 year mortgage assuming an interest rate of 7%.
A potential savings of > $400K seems like a win to me if you’re giving a client financial advice.
A potential savings of > $400K seems like a win to me if you’re giving a client financial advice.