Submitted by Josh Patrick on Thu, 10/02/2014 - 12:00pm
How often do you think about paying off the mortgage? Retirement may be harder if you still have debt. Ideally, you should enter retirement as free from a mortgage as possible. Here’s why and how.
Not having a mortgage reduces your overhead. That is to say, you need less money to live. You lower your personal break-even point. With limited income in retirement, this is always a good thing. Say your mortgage is $1,500 per month. If you pay it off before you retire, you have $18,000 more per year in your pocket.
Submitted by Lewis J. Walker on Fri, 09/12/2014 - 9:00am
The West African Ebola outbreak this summer generated fear and anxiety, particularly when two infected American aid volunteers were treated at Atlanta’s Emory University Hospital. What does Ebola have to do with your personal investment policy and meeting your goals? Plenty: It provides a useful lesson in the psychology of fear.
Seen The Money Pit? Tom Hanks and Shelley Long buy a $1 million distressed sale fixer-upper mansion for $200,000. What happens next? Maybe the same catastrophes you envision if you renovate your house while living in it. Is residing somewhere else for a while a smarter move and how do you pull it off?
Submitted by Sophia Bera on Tue, 08/05/2014 - 3:00pm
You probably go through many days feeling invincible. Bad things – or even just the weird and unexpected – happen to other people, not you. Wrong. When life throws you curves, almost always when you least expect, you need ready cash.
One possible curve: You come home to a wild turkey in your living room. A few months ago, one of my clients took a weekend trip with her boyfriend. On Saturday, they got engaged. On Sunday, they received a call that the patio door on their apartment “blew out.”
Submitted by Dan Crimmins on Tue, 07/01/2014 - 3:00pm
We almost all seem to know someone who helps older family members with financial affairs. If legally appointed to help someone with their money, find out all you can about the potentially confusing role.
Submitted by Sterling Raskie on Tue, 05/13/2014 - 3:00pm
As you pursue the American Dream of buying your first or next home, is it a good idea to pay down your mortgage – depleting part of your investment portfolio to eliminate the debt – or keep making the normal monthly loan payment and have more money in a stock market that offers potentially higher long-term returns? Both moves offer advantages depending on your unique situation.
Submitted by Brenda P. Wenning on Tue, 03/18/2014 - 9:00am
The U.S. economy has plenty of weaknesses. But compared to elsewhere, we are doing pretty well. The downside is that, in a global economy where everyone is connected, trouble in one spot can spread rapidly over borders. That’s why weaknesses in China, Japan and Europe are worrisome.