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liquidity: You Want to Own Your Own Home, But Do You Own it the Right Way? (Part 2) - 06/11/07 11:38 AM
This is a continuation of You Want to Own Your Own Home, But Do You Own it the Right Way? (Part 1). In the previous post, we compared Smart Stan and Timid Tom and how well their mortgage plans played out. We ended at the five year mark with Stan and Tom laid off and looking for new jobs. Stan had plenty of money to hold out for the best job, while Tom was stressed out since he had no money and was potentially facing foreclosure.
In this part, we are going to change things around a bit. Let's assume that they … (1 comments)
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liquidity: Is Your Nest Egg Cracked? - 12/26/06 01:49 PM
When it comes to your retirement nest egg, are you certain that you will have enough. There are a few things that may causecracks in your nest egg that you may not have planned for. Things like rising health care costs, your planned life expectancy and social security (or lack thereof). So what effects are we likely to see? How big of a crack will your nest egg have (and is it already cracking?)
Health care costs are on eof the big areas of concern. Long term care is one of the areas of concern regarding health care. But I am sure you … (2 comments)
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liquidity: Need Long Term Care? Mortgage Planning May Help - 12/20/06 03:16 PM
About a month ago, an issue of Investment News contained an article discussing the importance of long term care options for clients. According to a study by the American Society on Aging, more than 70% of all Americans reaching age 65 will need long-term care at some point in their lives.
Common health issues that are driving this are heart problems, hip fractures, strokes and alzheimer's disease. These conditions, and others, are likely to place large financial burdens on seniors and their families. Since the majority of people are living longer, there is added financial strains that have not created a large … (5 comments)
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liquidity: Don't Read This! (Unless You like Money) - 12/06/06 08:51 PM
Many people keep hanging on to the old beliefs about money. The truth is that they don't know how easy it is to make it. I don't mean those "get rich quick" schemes, but making money slowly and safely over time doing what the banks do.
That's right, the banks do the same thing as I describe. Just look at their advertised rates on their products and it will be very clear how they make their money, so why can't you?
In fact, it is so easy to do, the example I am going to use will show you how you can make … (15 comments)
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liquidity: Millions Now Love Their Mortgage Even Though It Requires Monthly Payments - 11/16/06 09:36 PM
If you had enough money right now to pay off your mortgage, would you? Most Americans would, since that has always been the American Dream. The reality is that following the "old" dream can be detrimental to your financial health. In fact, millions now love their mortgage because it is working for them.
Let's start with the reasons why the goal may be to pay off the mortgage. Many financial advisors/planners and other "experts" advise paying off the mortgage to reduce risk. ThePersonalFinance.com even runs articles advocating this "risk" management, and will lead you to believe that paying off your mortgage and … (12 comments)
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liquidity: Planning to Retire a Few Years Later? - 11/10/06 09:08 PM
Most financial planners will lead you to believe that your only hope of being able to retire is to delay your retirement a few years in order to gain full social security benefits. The extra time also allows your 401(k), IRA, or other retirement investments to grow more. They will tell you that it is prudent to pay off your debts, including your mortgage, prior to retirement and extra time helps accomplish this as well. But could there be a better way to retire and possibly avoid extra work years?
When you properly manage your home's equity, it is possible to achieve … (4 comments)
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liquidity: How Much Money Would You Deposit in this Investment? - 10/31/06 09:48 PM
Many Americans have been maximizing their contributions to this investment and don't even know it. Additionally, the ones that realize they are doing it, don't realize the truth!
So, I ask you, how much money would you put into this investment?
The customer determines the amount and length of time for monthly contributionsThe customer can pay more than the minimum monthly contributions, but never less.If the customer pays less, the financial institution keeps all previous contributions.The money depostied in the account is not safe from loss of principal.Each contribution to the account results in less safety.The money in the account is not liquid.The … (4 comments)
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liquidity: Exotic Loans Being Mistreated... - 10/22/06 09:10 PM
This topic seems to be hot and rather than post comments on others blogs, I decided just to post an article I wrote a while back and released via PRWeb. I titled the article Are Interest-Only, Option ARMs, and other "Exotic" Loans Really any Riskier than Fixed Rate Loans? Here is the article...
The National Association or Realtors (NAR) and other organizations have issued warnings against these types of loans. It is true that many consumers have misused them and that many mortgage brokers have sold homeowners these types of loans that really shouldn’t be using them. But are they just getting … (2 comments)
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liquidity: Become a Banker! - Well not literally... - 10/16/06 10:11 AM
According to R. Nelson Nash, author of Becoming Your Own Banker, The Infinite Banking Concept, the average American is losing 35% of their net income to interest paid on various loans (auto, home, credit cards, etc.). Even if a person saves 10% of their income, they still have a 3.5 to 1 ratio of interest paid to savings.
This is probably the main reason why many Americans never achieve financial success. Rather than fighting to obtain a higher rate of return on their savings and investments, it might make more sense to change the environment in which their money operates and capture … (4 comments)
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liquidity: A Tale of Two Brothers - 10/14/06 02:50 PM
I wanted to do a follow up on my $25,000 mistake post and present another example straight from my seminars. This topic is titled "A Tale of Two Brothers" and shows the different ways of thinking and the benefits of adapting to today's rules of money. In fact, it is an adaptation from the book, New Rules of Money by Ric Edelman.
Brother A Brother BBelieves in the "Old Way" - Believes in the "New Way" -paying off your mortgage Carrying a big, long mortgageas soon as possible and keeping it
15-Year Mortgage at 5.875% APR 30 Year interest-only loan at 6.375% … (32 comments)
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liquidity: Can a Mortgage Actually Save Your Life? - 09/27/06 08:11 AM
Almost everyone has savings in the bank, right? Well, the data from the Bureau of Economic Analysis (BEA) shows that despite our personal income increasing, our personal savings has decreased .2 percent during the months of October and November of 2005. That was even before the Christmas season.
What does this data mean? It means that on average, the typical American family is spending more than it earns. That amounts to increased use of credit cards or reducing our savings accounts. Ultimately, we are heading down the path of destruction.
Did you know that financial planners and those books you read … (2 comments)
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liquidity: Is Home Equity Safe? - 09/25/06 10:23 PM
Would it be better to have $400,000 in Home Equity or $400,000 in a safe, conservative investment account? Many Florida and Gulf Coast homeowners no longer need to pause and think about it, they can easily answer that question now.
One of the least publicized lessons from hurricanes Katrina, Rita, and Wilma taught us concerns personal finance and the best way to own your home. Most Americans strive to pay down or pay off their mortgages. However, those that followed this advice were worst hit when the hurricanes arrived, including Senator Trent Lott.
Senator Lott was living the “American Dream” by … (0 comments)
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Robert D. Ashby
Miramar,
FL
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Address: 11758 SW 26th CT, Miramar, FL, 33025
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