How old is carmen wong ulrich legs

  • Carmen Wong Ulrich is a personal finance expert and author of "The Real Cost of Living" and "Generation Debt." She joined us for a live chat.
  • How old is Carmen Wong?
  • “Mami?” I had on my sweetest most grown-up voice as I sat on the kitchen counter, eight-year-old legs dangling and swinging as I watched my mother cook.

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    When you should wait quick pay go to seed student loans

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    • how old is carmen wong ulrich legs

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      I need cash. Is it better to sell a home or liquidate a 401k?

      Question:

      I have been unemployed or underemployed for several years now. I’m ineligible for unemployment and not likely to be hired anytime soon. I am 54 years old and own a home with an adjustable-rate mortgage. The monthly mortgage payment is far lower than rent would be if I were to move. I also have some money in a 401K retirement account.

      The sad fact is that I need money for living expenses, and that means either sell stock from my 401k or sell my home. But I have no idea how to quantify which of these bad options is worse. Can you help?

      Response:

      Carmen Wong Ulrich Dec 9, 2013 Former Host
      This question is about a lot more than money. But let’s tackle that part first, shall we?

      In choosing the lesser of two evils here, know that there is one thing that even bankruptcy won’t take away: Your retirement savings. However, I’m sure it’s much more appealing to liquidate a 401k rather than sell a home that you’re most likely attached to, not to mention the financial and emotional costs of moving. And you raise a solid argument against selling your home — you say that rent would be much higher than your mortgage.

      Let’s look at the costs of going after eithe

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      Ulrich: Why parents shouldn't help pay for daughter's wedding

      Carmen Wong Ulrich is a personal finance expert and author of "The Real Cost of Living" and "Generation Debt." She joined us for a live Web chat Wednesday morning after the show's Money 911 segment.

      Here are two of her answers and a complete archive.

      Question from Michelle: 

      We're helping a son with his student loan debt and we have retirement funded. Now our daughter is planning to get married. We can only stretrch our paychecks so much. We have no personal debt and and don't want to put anything on credit. What do we tell our daughter?

      Carmen's answer:

      Michelle - Tell her that I paid for my own wedding out of my own savings!

      You sound like you're in great financial shape and you do need to take care of yourself and your retirement before your kids' student loans and wedding.

      It's tough love -- but they don't want to end up taking care of you, right?? That's what would happen if you jeopardize your retirement to take care of them now.

      Good luck - they'll be OK and have many more years to pay off their debts and save for retirement.

      Question from Kathryn:

      Our house is worth $250,000, we owe $134,00 and have a 20-year mortgage at 4.375 percent. We're considering going to a 15-year mortgage.