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CIL | These are all great questions for your lender. As others have pointed out, cash flow, debt to asset ratio are all very important, but so is having a timely conversation with your lender....even if you don't need their money. Check with them first, because they'll be the first person you'll call if you get in a pinch. I don't know if you have a good financial advisor or not, but a good CFP, is worth their weight in gold to tailor a plan just for you. Thanks to mine, I've got liquidity in the form of principal of a ROTH IRA. I can pull the principal out if I need it suddenly with no fees or taxes since it was all post tax dollars. Now I'm pushing my employer to offer a Roth 401k which would let me put even more into a similar plan. This is all thanks to the foresight of my CFP. Bottom line, I've got some extra funds to tap that are liquid IF the need ever came but are earning me some return while they're not being used. | |
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