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One of my goals for writing is to bring you a new and different perspective on personal finance, housing and economics. Often times these viewpoints don’t come directly from me, but from other people I pay attention to. No one has all of the answers. I would encourage you to listen to people who [...]
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It’s been 20 years since I received my securities license and began working in the financial markets. I’ve never denied my desire to reach financial independence. I always considered becoming wealthy a worthy goal for I don’t aspire “riches” for the millionaire status, I just want the freedom that comes with it.
For the first 3 [...]
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The following list are some of the more basic investment and portfolio management tips/concepts that you should find helpful in becoming a better and more informed investor. I am a believer in the basics and consistency. Before we dive into these, remember that learning to become a better investor takes time and effort, but the good [...]
ShareThe big debate now in the U.S. and Europe is whether to reign in spending to cut deficits versus continuing to spend heavily to promote economic growth. At some point the economy reaches an amount of debt where each marginal increase of debt has less and less of an effect on GDP. When this is [...]
ShareWhen you consider the avenues for achieving personal wealth or financial independence, it’s rare that a few million dollars are just going to drop in your lap. Even if it does, it can “poof” slip through your hands if you aren’t careful. Money success rewards those who prepare and expect it. But [...]
ShareWhen Bernie Madoff went down it was learned that
Harry Markopolos had been tailing Madoff for years, since 2001. Markopolos when asked investigate Madoff said it took him about 15 minutes to realize Madoff was a complete scam.
Markopolos brought the SEC Madoff on a silver platter. Their response? This is too much information to look [...]
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One of the most popular investment vehicles to gain traction in our electronic world over the past decade has been foreign exchange trading. The Internet has been the enabler, and countless forex brokers have come forward to give you access, train you, and unleash you onto the world’s largest market. Estimated at over $2.5 trillion [...]
ShareAt all times be aware of who is handling your money. Remember no one will ever be more concerned about your money than you are. You’ve worked for it, now protect it. Never assume your money is “safe” As Bernie Madoff reminded us, things aren’t always as they appear on the surface. Ask questions, kick [...]
ShareHere is a list of what I am reading and listening to this weekend.
The Housing Market – Mark Hanson Interview on King World News
“Mark Hanson is Founder and Managing Director of MHanson Advisors a 20 year veteran of the mortgage industry. Mark consults for investment funds and he has appeared on CNBC, Fox Business, Bloomberg, [...]
ShareIt’s human nature to avoid things we don’t understand. Then, there are those things we can’t avoid in life like the ending of a relationship, public speaking or learning how to use a computer. As the article below shows, people will go to great lengths to avoid these things, when inevitably, they need to be [...]
ShareIt’s pretty simple with housing…Remember Econ 101, Supply and Demand? Well, housing prices decline until people create more demand than immediate supply (foreclosures).
House Prices Still Have Another 10%-20% To Fall, Says Gary Shilling
Posted Jun 16, 2010 11:30am EDT by Henry Blodget
A year ago, house prices finally stopped collapsing after two years of brutal declines. Over [...]
ShareI mentioned this would happen sooner rather than later. This shouldn’t come as any big surprise. Watch the money.
NEW YORK (CNNMoney.com) — Foreign governments have been getting in on the recent gold rush, driven by continued fears about Europe’s debt crisis and the pace of the global economic recovery.
Those concerns have been propelling the [...]
ShareAccording to the article below, US Home Foreclosures for residential real estate reached a record for the 2nd consecutive month in May. This is “big news” in the sense that we’ve been told that the economy has turned the corner. Why is this?
The mainstream media typically applies “Management of Perspective Economics” while certain economic laws [...]
ShareHere is a list of the articles from other blogs I am reading this weekend. I hope you have a great weekend.
The Frugal Challenge – If you’re looking for a great way to get yourself going saving money, check out this article on Early Retirement Extreme.
Strength In Numbers With Goal Setting – another great [...]
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I’ve always been impressed with the success of the legendary UCLA basketball coach John Wooden. For those not familiar, John Wooden was the head coach of the UCLA men’s basketball team from 1948 to 1975. The John Wooden era is unrivaled in terms of national championships. Wooden won 10 national championships in 12 seasons.
After [...]
ShareThe following article appeared in Bloomberg on June 4th. You can not cure a problem that was brought on by too much debt by spending more. This is not a political statement but simply an economic reality. If you were a home buyer making $50,000 per year and you’re in foreclosure and headed into bankruptcy, [...]
ShareThis week I decided that I would subject myself to another 3 months of torture when I started “Day 1” of my third round with P90x. For those of you not familiar, P90x is a complete fitness program designed around various workout regimens and an eating program. The goal is nothing short of total fitness [...]
ShareThe Following is a list of what I am reading and listening to this weekend.
From King World News – Felix Zulauf Interview
“Felix Zulauf has been a member of Barron’s Roundtable for over 20 years. Investors have only read about Felix in Barron’s because he simply does not give interviews outside of Barron’s, but Felix [...]
ShareIf you’re in the process of getting out of debt, more than likely you’ll need to learn how to handle collection agencies. In this post, I will share with you some very effective techniques for how to handle those annoying collection calls while keeping those obnoxious hacks (aka The Collection Bully) at bay. But first [...]
ShareThis is Step 5 in the 5 Part Series, How To Achieve Financial Independence
Review of The Series
I hope you’ve enjoyed reading the first 4 steps in this series. Of course, once you’re finish reading all 5 steps, you will need to make the decision whether to put them into action or not. The goal [...]
ShareThis is Step 4 in the series, 5 Steps To Achieve Financial Independence.
If you’ve ever felt like you were stuck in the “rat race” – it is primarily because you don’t like what you’re doing right now. Why work in a profession you don’t like? Well, the reason you may have hesitated in taking action [...]
ShareFor the longest time, I have attempted to warn about the dangerous level of debt in the system. What is often overlooked is not what is posted and obvious to the naked eye, but rather, what lies beneath the surface of it all, derivatives. Derivatives are simply bets about the success or failure of a [...]
ShareA new survey from Robert Half shows that 46% of the respondents have made changes to their retirement planning. Specifically, the respondents have decided to put off their retirement date because of the recent recession. The good news is that 30% of the respondents are now saving more for retirement. Here are some of [...]
ShareToday we are going to look at STEP 3 in the Formula For Achieving Financial Independence, Accelerate Your Savings. First, lets look at the First 2 Steps:
Step 1 – You Must Earn More Than You Spend
Step 2) – Get Out Of Debt Now
I want to touch again on the importance of the ORDER of [...]
ShareThis is a guest post by Mr Credit Card from www.askmrcreditcard.com. Today Mr Credit Card is going to share with us what we can learn from the financial crisis in Greece, why we need to be very concerned about the state of our federal government finances and what we can learn as individuals. Please check [...]
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This is Step 2 of ‘5 Steps To Achieving Financial Independence‘ — Get Out of Debt Now
Have you ever had to experience something first before you realized its value? At some point in your life you may have said to yourself: “If I had only known then what I know now.” Well, Step 2 [...]
ShareThis is Part I of a 5 Part Series, How To Achieve Financial Independence
Step 1 – Earn More Money Than You Spend – (Monthly Earnings > Monthly Expenses) by 20% or more
Today we are going to talk about the first step in The Formula For Financial Independence, Earning More Money Than We Spend. I [...]
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There is a particular formula for how to achieve financial independence. It’s not a dollar amount per se, but a process with an order to it. Over the next week, I will write in detail about each of the 5 steps. For now, here is The Formula for Financial Independence. These are the steps I [...]
ShareI am sure you’ve heard about the problems in Greece as well as today’s crazy stock market action. The following clip by Jim Sinclair on King World News gives perspective to the situation. Jim Sinclair on King World News
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2 Free (Unconventional) Tools To Track Your Mutual Fund Performance
In my last post I talked about the importance of defining and respecting your Risk Tolerance before you begin blindly throwing money at the market. It’s important that your investments aren’t so aggressive that they keep you up at night. Maybe you learned a valuable lesson [...]
ShareTime for something a little different and uplifting. If you ever needed proof of how similar people around the world really are.
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Have you ever found yourself in the middle of a project only to realize you left out the most important parts that should have come sooner? To use an example, imagine that you are going to bake a cake for one of your best friend’s upcoming birthday. You go to the local grocery store, [...]
ShareIn my last post, I wrote about Index Mutual Funds as an investment strategy. To index or not to index? This has been a long debated question among investors for years. Specifically, is it easier to simply buy and hold a basket or stocks or bonds? Or should you take your chances and buy [...]
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Index Mutual Funds
The other day one of my friends was asking me about investing in mutual funds. He wanted to know if I knew of any good fixed income mutual funds that I could recommend for him. So, I asked him if he prefers a “passive” or “active” approach to mutual funds. He asked me [...]
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Here are a couple “hand chosen” clips for you to watch and listen to over the weekend. Listen to and watch them. These will improve your investment IQ and success. The majority of investment success comes from your ability to make decisions for yourself. You have to learn not to think with the crowd. [...]
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Looking at Real Estate, “Post Crash”
I believe we are in a very long term bear market for real estate. There are a number of factors influencing this trend. When I look at these factors, I can’t build a case for a Real Estate recovery anytime soon. And I am okay with this. Why? Prices need [...]
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Leaving a job may present you with sudden emotional decisions. Whether you are leaving your job voluntarily or you were laid off, you will need to decide which of the three 401k options are best for you. The good news, is to realize that your 401k is portable, meaning you can rollover your 401k into a Rollover [...]
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I am finishing up article I mentioned last week, ‘5 Steps To Financial Independence In 5 Years or Less’ that I am really excited to share with you. Have you ever wondered what is “The Big Secret” when it comes to financial independence? Well, I can tell you that it’s not some $500 [...]
ShareWhen someone says the word retirement, what thoughts come to mind? Is it the freedom to travel? Is it thinking of a time in the future where you can pursue your personal interests and hobbies? Or, maybe you haven’t given it much thought yet because retirement seems so out of reach. [...]
ShareIf you’ve spent any time in debt, you’re aware how fast things can get out of hand. This is because you are compounding interest for your financial institution. After a certain period of time, you will surely make your financial institution a lot of money. The idea is to turn the tables [...]
ShareThe following video The Money Fix, explains how money has become the central focus of almost every aspect of our life. Understanding the monetary system or simply “money” can make you conscious of the sort of relationships you may not even realize you’ve entered into.
ShareAccording to a survey conducted by Country Financial, almost 40% of respondents say they are more confused about how to save for retirement after the financial meltdown and recession. Knowing the passive nature of most investors, I wasn’t too surprised when I read this. Actually, I would have been surprised if they weren’t more confused. [...]
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The Income Tax Filing Deadline is next Thursday April 15th. Here is a short checklist to run through before then. A couple of these have to do with Retirement Planning for your IRAs.
1) Don’t Panic -First and foremost understand there is no need to panic if you haven’t prepared your income [...]
ShareThe goal of this post is to educate and inform you. It’s not a political stance to blame existing or past administrations. If you approach things that way as an investor, you end up like a cat chasing it’s tail. One of the most common characteristics among the most successful investors is they [...]
ShareTwo of life’s biggest mysteries are love and money. I doubt you woke up this morning and asked yourself about the history of money. However, think about it; how much of your life and your time is spent in some way on love and money? How much do these two forces drive your thoughts and [...]
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Do you wake up relaxed and refreshed or in a hurried (“Oh Shit, I have 15 minutes!”) state of mind? Is your morning routine taking a fast shower, eating whatever is in the refrigerator for breakfast and then, off to work you go? If this is what your morning looks like, [...]
ShareThere is no question that a growing number of American’s are becoming delinquent on their mortgage. If you are unsure of what to do or considering a strategic default, commonly known as walking away from your home, this video is for you.
Why? I’ve noticed that it has become popular opinion and almost considered a national [...]
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Lately, I’ve been doing some thinking about how I am going to reach my goals. I think about this constantly. The first step is to have goals. It’s another step just to write them down on paper. It’s an even bigger step to believe in yourself and push yourself to [...]
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First, I am going to make the assumption that you have retirement as a goal. I mean you do want to retire one day, right? Of course, we all do. Retirement means different things to different people. It doesn’t have to mean not working. Retirement can simply mean reaching a [...]
ShareThe concept of success is something we can all struggle with from time to time. The idea that success is going out and getting a certain number of sales or deals by learning a new technique is like “chasing a butterfly.” As Jim Rohn explains in this video, success is not something you chase [...]
ShareToday, just like any other day when you woke up, you probably thought about your weight. If you’re like me you’ve looked curiously at any number of methods on how to lose weight.
So, let me ask; have you ever found the magic bullet to weight loss? You’re probably wondering what is a guy who is [...]
ShareHow To Get Started Making Money Online For Beginners
Have you ever thought to yourself that it would be nice to learn how to get started making money online? If you have, then you are probably wondering how to actually do it. A lot of people think there is some magic pill or special voodoo [...]
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Information Overload can be thought of as the state of mind that literally becomes us whenever we try to do too many things at once. You know this feeling right? It’s that imagine of the cute little hamster running away in circles but going no where. As in most things in our [...]
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Building an emergency fund equivalent to 3-6 months of personal living expenses isn’t just important, its critical in creating financial stability in your life.
I was fortunate to learn this lesson the hard way when I was growing up. When I was a kid of about 7 years old, my parents divorced. The divorce [...]
ShareWriting a personal finance blog gives me the unique opportunity to share relevant and useful personal finance tips with you. Today’s subject isn’t nearly as fun as learning about One of The Smartest Retirement Tools Ever Created – But by the time you finish reading this short post, I will show you how to file [...]
ShareWhistle blower Harry Markopolos is promoting his book ‘No One Would Listen.‘ This is the story of the man who took on Bernie Madoff. He literally handed the SEC (Securities and Exchange Commission) the case on Madoff as far back as 2000, when Madoff’s Ponzi Scheme was only around $10 Billion. But guess what? No One Listened! The [...]
ShareMaking a living in the volatile world of financial markets, has taught me to appreciate the simple things in life, like the benefits of having a Roth IRA. Before I explain all the meaningful benefits of a Roth IRA, I want to put the Roth IRA in perspective.
Whenever you are saving for a particular goal, [...]
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In Savings Habit 3, We looked at why it is wiser to Use Cash Versus Credit and Debit Cards for Discretionary Purchases Today, we are going to look at the final Savings Habit in our 4 part series:
Savings Habit #4. How To Avoid All Unnecessary and Late Fees! - What’s worse than giving the government [...]
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In Savings Habit #2, we talked about how Not To Pay More Income Tax Than You Owe Now, we are going to do something more interesting and definitely A LOT more fun! By the way, it’s okay to have fun with this stuff. There is no rule that says you have [...]
ShareSo, In Step One we looked at How To Get The Most Out of Your Current Savings. This is the concept of not leaving available money on the table. And, while we don’t want to leave money on the table – Guess what? We also don’t want to pay more taxes than we owe. What [...]
ShareOne of my goals for the month is to provide you with some valuable ideas on how to improve your savings habits. And, while some of these savings tips may sound simple, let me share a little secret with you: The key to improving your financial profile isn’t about one killer idea or hitting [...]
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Lately, you’ve heard of PIIGS? I’d imagine your next thought is what are these people referring to? No, it’s not that farm animal in your head. I typically write about personal finance topics. You know things like getting out of debt, how to plan for retirement, etc. However, in order [...]
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Bernie Madoff’s ponzi scheme affected thousands of lives. Did you know there was one person who had been tracking Madoff and his Criminal Syndicate for years?
Harry Markopolos broke the Bernie Madoff case wide open. His comments in the following interview on King World news about the corruption in the United States at many levels [...]
ShareSaving Money Online with Digital Coupons, Freebies, and Comparison Shopping
One of the areas we need to look at and examine when it comes to saving money is not just how much we’re putting away but how we can save money on things we are already spending. And, that is one of the keys; things we [...]
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Motivational Tips
I wanted to write about something a little different today. At times, it is easy to get caught up in the negative news regarding the economy. I try to steer clear of the mainstream media. This is mostly so that I don’t get too negatively influenced by the news. [...]
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In the previous 2 posts we looked at the “damage” from the housing bubble - in terms of the percentage of mortgages underwater. I mentioned that it probably wasn’t the best idea to think about the (sales price) highs of 2007 in terms of forecasting the immediate future of real estate [...]
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A couple days ago, I posted Understanding the Housing Correction in an effort to explain my opinion that most people don’t necessarily understand the housing bubble and that housing has entered a long term bear market . This isn’t meant as an insult but rather to show just how conditioned we are/were [...]
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When we look at the housing bubble and resulting correction, it’s understandable why so many people want to see a turnaround in prices. Most of the time, they want to believe the best case scenario; that is the human nature in all of us. But a lot of the time human nature [...]
ShareOne of the best stories I hear is of the single mom who manages to amass $1,000,000 by the time she retires. What makes these stories even better is when you realize that they did it on a salary that never exceeded $55,000 per year. Here is one such woman, Sherelle Derico, who is [...]
ShareWe have spent the last few weeks talking about the importance of insurance. Insurance is one of the most important but least popular things to talk about when it comes to personal finance. Why? Because we typically only use insurance when we’re sick, after a car accident, something has been stolen from us, or mother [...]
ShareA Health Savings Account or HSA is designed to reduce your overall health care costs. An HSA is a tax free savings account where you are able to deposit money to cover current and future medical expenses. As long as you spend the savings on a qualified medical expense, the money is free from [...]
ShareA Health Savings Account or HSA is designed to reduce your overall health care costs. An HSA is a tax free savings account where you are able to deposit money to cover current and future medical expenses. As long as you spend the savings on a qualified medical expense, the money is free from federal [...]
ShareIt’s been almost a year since the stock market bounced back from the March 2009 lows. When we look at the last year of the Dow Jones, things look pretty good. That is a classic bullish chart, moving from lower left to upper right.
When we take an intermediate time horizon; lets say a 3 year [...]
ShareI’ve got to remind you that you and I never know what we don’t know when it comes to our money. The things that go on under the surface are often times never revealed until its too late: Madoff, Enron, etc.
At times I will read things about the industry I am in and just say [...]
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It’s 4:54 PM and before you leave the office your mind turns to the evening and the things you need to do:
-Work out
-Bills
-Blog
-Laundry
-emails
-add your own
The mission: You have 4 or 5 hours in the evening to get things done. I will guess you only manage to get to a very [...]
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Its the idea of preparation: Doing now so that things are easier later. This is what retirement planning is all about. One of the things we have to look at and prepare for is old age. We don’t like to do it because we don’t want to think of ourselves [...]
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As you know this month we are talking about the different types of insurance you need. One of the last types of insurance we’re going to discuss is disability insurance. The main thing disability insurance protects is your income and your assets.
Do you take it for granted that you are [...]
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Basically, home owners or home contents insurance is insurance against the replacement cost that you would otherwise have to pay to replace the contents of your home in the event of then being lost, damaged or stolen. As is the case with home buildings insurance, the main factors contributing to [...]
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Developing a millionaire mind is one of the most important starting points to creating financial independence. This is true whether you are talking about getting a new job, getting out of debt or becoming financially independent, “a millionaire.”
You should get your mind set right before beginning any of these [...]
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Annuities often times get a bad wrap. If they are sold correctly, they can be used as a tool. If you are considering an annuity make sure you ask these very important questions as they will come to light sooner or later.
7 Questions to Ask Before Buying An Annuity
When you are [...]
ShareAre you considering purchasing an annuity? If so, here are the basics. I encourage you to fully educate yourself when it comes to annuities. Like most financial instruments, they can be useful tools, if used properly.
What is an annuity?
An annuity is a contract that makes payments to you at regular intervals based on purchase [...]
ShareWhen you are looking for affordable life insurance it is important that you enlist an experienced and independent financial advisor who can help you choose the best policy. Finding the best policy means working with an advisor who acts as a fiduciary on your behalf, protecting you interest.
Term or Whole Life Insurance?
Term life insurance, also called [...]
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How to Find Affordable Health Insurance
When you are on your own or self employed, finding affordable health insurance can be a bit overwhelming. In this post I am going to give you a few tips on where to find affordable plans and then the questions you should ask about those [...]
ShareEver wish you had a quick back of the envelop method to value a house and tell whether is was priced right? Well, I’ll give you one that is really easy. A realtor who is trying to sell me a condo sent me an email regarding the following great deal:
“The unit is right on [...]
ShareCouldn’t resist - warning: Profanity Ahead.
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Here’s a short and funny video on how to save a few bucks around the house. Do I follow all of these? No; of course not. I work out at a gym and I even have paper towels. The idea, of course, is to get 1 or 2 ideas you can use right [...]
ShareAs you know this week, I’ve been writing about insurance! As important as insurance is to the most basic personal finance concepts, it can become a tab bit dry from time to time. So, I wanted to take a break today and show you the current rate of unemployment and how it’s progressed through [...]
ShareI have to admit that writing about insurance isn’t the most exciting thing in the world. I mean I could think of about 25 more exciting things to tell you, right? Let’s hope so…But it IS quite important as it’s one of those expenses that sticks around.
And, right now our little blog is in [...]
ShareOne of the insurances you absolutely need to carry is auto insurance. Now, if the first thing you said to yourself was: “I already have the minimum.” you need to understand where the real risks lie. Of course you have to carry at least the state minimum for where you live. But is that really [...]
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For today’s post I want to talk about how to buy insurance if you’re self employed. This post will be especially helpful if you are looking at buying insurance on your own for the first time. Buying insurance can be seem a little overwhelming and confusing at times. By the time you read this [...]
ShareIn yesterday’s post I talked about the Types Of Insurance You Really Need These are the main types of insurances I believe you need come heck or high water (as my grandmother used to say). Those included: Auto Insurance, Health Insurance, Disability Insurance, Long-Term Care Insurance and Home Owners or Renters Insurance. There are [...]
ShareFor the month of February, The Wise Buck is going to focus on giving you tips about insurance. Life Insurance, Health Insurance, Auto Insurance, Home Owners Insurance, etc. And, while I know this probably isn’t your (or my) favorite or most exciting personal finance topic, it is very important in creating financial independence and safe [...]
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Of course this is not a one word answer. However, there are some general rules that you can apply here. First, we have to realize that from 2002-2007, there was A LOT of fictitious value created in the global housing market. I think most people are well aware of that [...]
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The short answer to this question is a yes. But it really has to be explained. Transferring your credit card to a lower interest rate will help, sure. But if you don’t quit buying things you don’t need and spending money you don’t already have, this will be a total [...]
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Today’s post is going to be a little brief. But don’t mistake that for the effect this little game changer can have on your ability to get out of debt and free up extra time.
Wednesday nights at 9PM. If you were to drop in on me on almost [...]
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Yea, that’s right, I want you to call your creditors and tell them that you are planning on getting out of debt. They won’t really care so much about your new found goal of having a debt-free lifestyle but you really do need to contact them.
Most people make the mistake of stopping talking [...]
Share1. BACK TO WHERE IT WAS – The S&P 500 hit a 15 ½ month closing high on Tuesday 1/19/10. The stock index closed at 1150 on that day, the highest close for the S&P 500 since 10/01/08 when it closed at 1161. The S&P 500 is an unmanaged index of 500 widely held stocks [...]
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You’re probably saying: “You already covered this when you told me to stop using my credit cards.” Well, I did but…………….if you really want to get out of debt, this is a step you will have to take.
Hey, you knew it would come to this. This is something you need [...]
ShareIf you’ve read the posts from the last week or so, you’ve hopefully decided that you really want to get out of debt? Did you? I hope so. Isn’t it time? If not now, when?? You’re also willing to do the work and make a few sacrifices, right? I wouldn’t be recommending this and focusing [...]
What’s Happening In The Economy Now?
One of my goals for writing is to bring you a new and different perspective on personal finance, housing and economics. Often times these viewpoints don’t come directly from me, but from other people I pay attention to. No one has all of the answers. I would encourage you to listen to people who have a different perspective than your own. For me, this is how I typically learn and grow the most.
This is the reason I pass on other bloggers and radio shows; I believe there is value in what they have to say. Here are a couple informative interviews on the current state of the economy from Eric King over at King World News.
Lori Ann La Rocco Interview