Thinking about buying a condo? Derek Mazzarella, CFP® and Kelly Turner break down everything you need to know before you sign on the dotted line. From HOA fees and special assessments to how the 2021 Surfside condo collapse completely changed condo mortgage lending, this episode covers the real pros and cons of condo ownership.

Derek and Kelly dig into why condos are often 10-20% cheaper per square foot than single family homes, what an HO-6 insurance policy actually covers, and why your HOA fee doesn't build you equity (even though it's not money down the drain). They also get into the messier stuff: HOA mismanagement horror stories (including Derek's own condo association drama), how reserve funding and insurance scrutiny have tightened up since Surfside, what happens when a complex has multiple HOAs, and why some condos are flat out "non-warrantable" for a mortgage.

Whether you're a first time homebuyer considering a condo as a smarter alternative to renting, or you're weighing a condo against a single family home, this episode gives you the real, practical breakdown, not just the highlight reel.

Topics covered:
What is an HOA and why Connecticut is different than most of the country

Condo pros (lower price, less maintenance, amenities, cheaper insurance, building equity)

Condo cons (HOA fees, HOA rules, special assessments, privacy)

The Surfside condo collapse and how it changed condo lending

Reserves and reserve studies

FHA vs conventional condo approval

The condo resale package process

Self-managed vs professionally managed HOAs

Multiple HOA complexes

Who condos are (and aren't) a good fit for.

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💬 Got a condo question? Drop it in the comments — we might answer it on the show.

We all made money mistakes in our 20s. The question is whether we learned from them.

In this episode, Derek and Kelly are joined by guest Maggie Garden to talk about what they wish they knew at 25. From skipping the 401(k) to buying the wrong car to completely ignoring their credit scores, they get real about the financial decisions they'd do differently — and what you can do right now so you don't make the same ones.

This one's part therapy session, part financial planning crash course.

What's covered:

• Why your 20s are actually your most valuable investing years (and what it costs you to wait)
• The car mistake almost everyone makes — and why it matters more than you think
• Credit scores: what they are, why they matter, and how most people find out the hard way
• Health insurance gaps that can wreck your finances before your career even gets started
• How lifestyle inflation quietly sneaks up on you
• The case for taking more risks early — in life and with your money
• Real talk on housing: what they got right, what they got wrong, and what they'd tell their younger selves

Whether you're in your 20s right now or just wishing you could go back, this episode has something for you.

Chapters

00:00 Reflecting on Our 25-Year-Old Selves
01:33 Life at 25: Personal Experiences and Financial Realities
07:51 Lessons Learned: Regrets and Aha Moments
10:31 Financial Mistakes and Health Insurance Woes
11:57 Navigating Credit Scores and Financial Awareness
16:55 Traveling and Keeping Up with Friends
23:54 Big Financial Decisions: Cars and Investments
32:51 Advice to Our Younger Selves: Key Takeaways

The conversation delves into the challenges and considerations of college planning, including the looming cost of college, the evolution of college, the impact of college reputation, the rise of trade schools, and the importance of flexibility in college planning. It also explores the various college savings and investment accounts available, the role of FAFSA in college planning, and the importance of exposure to career options for effective college planning.

Takeaways

• College costs are increasing drastically, and it's important to plan for the financial implications of higher education.
• Flexibility in college planning is crucial, and exposure to various career options is essential for effective decision-making.
• Understanding the different college savings and investment accounts available can help in creating a comprehensive college funding strategy.

Chapters

• 00:00 The Looming Cost of College
• 05:17 The Value of College Education
• 10:31 College Savings and Investment Accounts
• 15:37 The College Experience and Career Paths
• 21:17 The Utma Account and College Savings
• 26:24 The Flexibility of the Utma Account for College Savings
• 31:34 The Realities of FAFSA and College Funding

In this episode of Millennial Money Matters, Kelly and Derek explore the challenges and rewards of merging finances with a partner. They discuss whether to combine bank accounts, how to handle debt as a team, and ways to set joint financial goals without sacrificing independence. With practical tips and real-life insights, Kelly and Derek help couples navigate the tricky terrain of love and money. If you’re preparing to share your life—and your wallet—with someone, this episode is a must-listen!

Reach out to Kelly Turner at kturner@totalmortgage.com and Derek Mazzarella at dmazzarella@mygfpartner.com

Hosted on Ausha. See ausha.co/privacy-policy for more information.

Welcome to the first episode of Millennial Money Matters! We're diving into the unique financial landscape that defines our generation. From the 2008 mortgage crisis and the Great Recession to the impact of COVID-19, we'll explore how these events have shaped our money habits.

In this episode, we'll discuss the long-term effects of economic turmoil on millennial finances, managing student loans and housing costs, and balancing side hustles and digital wallets. We'll also share practical tips for saving and investing.

Join us as we tackle the realities of millennial money relationships with practical advice and a dash of humor. It's time to take control of your financial future!

Hosted on Ausha. See ausha.co/privacy-policy for more information.

We went to Reddit so you don't have to.

Derek and Kelly (plus producer Justin, making a rare on-mic appearance) pulled the most common financial questions people are actually asking on Reddit and answered them straight. No jargon. No vague advice. Just real answers.

In this episode:

What's the right amount to spend on a car? (Kelly just bought a Rivian, so we're starting here)

Student loans vs. 401k — where does your money go first?

What actually happens to your 401k when you change jobs?

Building an emergency fund when you're living paycheck to paycheck

How to talk to your partner about money without it turning into a fight

What does a financial planner actually do — and do you even need one?

Is it too late to start saving for retirement at 35?

How to start investing with only $100 a month Individual stocks vs. index funds — what the numbers actually say

Real estate vs. index funds: the "it depends" answer Is it worth buying a home right now with these interest rates?

How to negotiate your salary (including the advice nobody talks about) $30,000 in credit card debt — where do you even start?

Is life insurance worth it if you don't have kids?

If you've ever typed a financial question into Reddit and gotten 47 conflicting answers, this episode is for you.

🎙️ Millennial Money Matters is hosted by Derek Mazzarella, CFP® and Kelly Turner, Mortgage loan officer

📩 Have a question for a future episode? Drop it in the comments.

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Reach out to Kelly Turner at kturner@totalmortgage.com and Derek Mazzarella at dmazzarella@mygfpartner.com

Hosted on Ausha. See ausha.co/privacy-policy for more information.

Everyone’s throwing around the word recession—but what does it actually mean? And how do we know if we’re in one… or headed for one? In this episode, we break down the real indicators economists look at (like GDP and unemployment), the not-so-obvious ones (consumer confidence, anyone?), and why vibes sometimes do matter. If you're confused by all the mixed messages about the economy right now, this episode will help you make sense of it all—without the jargon.

Reach out to Kelly Turner at kturner@totalmortgage.com and Derek Mazzarella at dmazzarella@mygfpartner.com

Hosted on Ausha. See ausha.co/privacy-policy for more information.

In this episode of Millennial Money Matters, Kelly and Derek dive into the world of mortgages, focusing on the unique challenges millennials face in today’s housing market. From navigating the post-pandemic economy to juggling life with kids, they explore how these factors shape the home-buying experience. Whether you're a first-time homebuyer or just curious about how your peers are managing, tune in as Kelly and Derek share personal stories, practical advice, and expert insights to help you understand what it really takes to secure a mortgage in 2024.

Hosted on Ausha. See ausha.co/privacy-policy for more information.