My wife read an article yesterday on real estate investing that made her mad. I’d link to it, but I can’t find it today–maybe it was pulled. But the premise was that you shouldn’t invest in real estate, because being a landlord isn’t a quick way to get rich. I agree with the second part. [...]
The Googles have spoken, and people don’t come here for financial advice, but I’ll say this anyway. The markets have been going bonkers for the last week, but don’t panic. Don’t go dumping your stocks and bonds. Seriously. Just look at what happened in 2008.
The New York Times is criticizing (or echoing criticisms) of some of Dave Ramsey’s retirement advice. Namely, that the math he’s using on S&P 500 returns is overly optimistic–a 12% annual return, when a more realistic return when all factors are considered is more like 7 percent.
I’m not a big fan of financial advisers. Their job is to sell you financial products, not to look out for your own best interests. I learned that the hard way, after sending most of what I made in my early 20s to one. He doubled my money in a year or two, but erased [...]
So I’m filling out 401(K) paperwork. I don’t like everything I see, but can live with it. I guess it’s what I don’t like that’s important. Or why I don’t like some things I see, that is.
Then again, some people may be wondering why I’m even investing at all.
Joseph brought up some good points in the comments for the previous entry, and I don’t think a short response does them justice. He wants to know what the personal finance experts have to say about the current economic crisis.
Suze Orman actually went on TV a few weeks ago and called it an opportunity of a lifetime. I’ll explain.
The pitch sounded too good to be true. While most bank accounts in the United States are paying a piddly 4% interest, and rates are more likely to go down than up, there’s another country whose economy is booming, is one of the safest places in the world for your money, and routinely pays 9, 10, or even 14 percent interest on three-month CDs.
I clicked the banner ad. I read what the guy had to say. But I didn’t sign on the dotted line. Here’s why.
This week I read a story on Get Rich Slowly about a couple who refuses to budget. The conversation ended when the person who needed to budget bragged about getting five shrubs on sale for $10 each. She didn’t need them, but the deal was too good to pass up.
An old friend and I have been talking a lot about debt elimination these past few weeks. With any luck, both of us will be completely debt-free by age 45 at the very most, and probably sooner.
The trick is to dump as much money as possible into debt retirement. As recently as November, the interest on my Honda Civic was costing me $1.40 a day. Think what you could do with that $540 a year you’re paying in needless interest.
The challenge is finding the money to use to retire debt.