Turning Inheritance into Passive Income Potential
Eleanor's primary concerns were understanding the financial implications of a $300,000 land loan, ensuring it aligned with her retirement income needs, and mitigating risk associated with a large debt at her age. She needed a clear picture of monthly payments, interest accrual, and the loan's impact on her overall estate plan.
Using Golden Door Asset's Land Loan Calculator, we projected Eleanor's monthly loan payments based on various interest rates and loan terms. We also incorporated data from the Loan Calculator to analyze total interest paid over the life of the loan. By stress-testing different scenarios, we demonstrated that a 15-year loan term at 6.5% would result in manageable monthly payments that could be comfortably covered by a portion of her IRA distributions, while still allowing for sufficient retirement income and estate preservation.
The Land Loan Calculator was integrated with Eleanor's financial plan, providing a real-time view of the loan's impact on her cash flow and net worth. Data was automatically updated when interest rates or loan terms were adjusted during the planning process.
$75,000 projected net annual income from lavender farm operations after loan payments, increasing Eleanor's overall income and estate value.
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