This Spring, I was very excited about the possibility of my brother selling his first house, now a rental. In April, I offered my own opinions of what he should do with his expected windfall.
With the drop in the real estate market, it took longer than expected for the sale to finalize, but the day has finally arrived.
I figured my brother would be on easy street: no more carrying costs or paying for repairs for his old house. Not to mention, he has better cash flow with his youngest finally out of day care.
When he told me he was meeting with a financial advisor, a class mate of his wife’s, to help decide how much of their profits they could use to improve their current home, I didn’t think too much of it.
After years of reading blogs in the personal finance space, I forgot that not everyone swims in this stuff. Then we spoke last weekend, and I shocked at some of the things he told me.
I think there are some personal finance lessons to glean from his situation.
Continue reading “Still My Brother’s (Money) Keeper”