Tag Archives: mortgage

Pay off investment property

Paying off debt involves some nasty math, and when you go to pay off investment property, it’s no exception. That’s why it’s so controversial. When I was in college, my university used this kind of math to weed students out, so it should come as no surprise that the lending industry booms, and so many hucksters make a fortune hawking questionable ways to get out of debt.

I have a better way, and you won’t pay me anything for the advice. Read on.

Continue reading Pay off investment property

Setting boundaries with difficult tenants

As a landlord, I’ve dealt with some difficult tenants, and I’ve noticed they all tend to use very similar tactics. Setting boundaries is a necessity to keep things under control, and in the end keep all of your tenants happy while keeping yourself sane.

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How to disarm a scammer

Buried unfortunately deep in August’s Social Engineer podcast was some outstanding advice from British TV star R. Paul Wilson, who turned scamming into prime-time BBC TV for several seasons.

Wilson, who literally has sold someone a bridge that he of course didn’t own, has lots of experience on both sides of scamming, so his experience is invaluable. I was just disappointed that we had to listen to 45 minutes of Christopher Hadnagy and David Kennedy arguing before we could hear it, so I’ll cut through the garbage.

Continue reading How to disarm a scammer

Twelve percent.

Last week, a former classmate shared a Dave Ramsey article about early savings. Ramsey stated a teenager could save a couple thousand a year, stop saving in their 20s, and still retire a multimillionaire. I agree with the sentiment completely, but I’m concerned that Ramsey overstates how rich that person can expect to become.

Ramsey’s favored investment vehicle is a mutual fund that tracks the S&P 500.

The problem with the article is that he assumed an annual return on investment of 12 percent, which is well above every reasonable historical estimate I’ve ever heard of S&P 500 rates of return. Forbes agrees. Ramsey is basing his number on a subset of history, not all available history.

Continue reading Twelve percent.

Don’t e-mail yourself a list of all your passwords and bank account numbers to yourself from work

So my buddy, we’ll call him Bob, runs Data Loss Prevention (DLP) for a big company. DLP is software that limits what you can do with sensitive information, in order to block it from going out of the company. The NSA wasn’t using DLP back when Ed Snowden was working for them; they probably are now.

Sometimes DLP blocks people from sending their own personal information. Doing so is their right–it’s their information–but from a security point of view, I’m really glad DLP kept them from e-mailing their entire life around in plaintext.

Continue reading Don’t e-mail yourself a list of all your passwords and bank account numbers to yourself from work

1984 called. It wants its surveillance back.

So, the reaction to my story about my coworker’s 10-year-old going all Scooby Doo on the guy who had the nerve to steal his dad’s car was definitely mixed. Most people, of course, lauded the 10-year-old’s detective work. Others pointed out the dark side.

And there is a dark side.

Continue reading 1984 called. It wants its surveillance back.

Don’t buy a house if you can’t afford it

I see the advice all the time not to buy a house if you can’t afford it, but rarely do I see a good explanation of what that means.

It’s really easy. Let me explain it, as someone who paid off a 30-year mortgage in five years and now co-manages rental property and has to determine if someone can afford to rent from us or will be over their head. And no, just because I’m a landlord doesn’t mean I think everyone should rent. There are definitely times when buying makes sense. Continue reading Don’t buy a house if you can’t afford it

Set up your retirement account. Just do it. Then forget it.

My new mortgage company wants to see the balance of my 401(K) account. That turned out to be a bit of a problem, but for the right reasons.

You see, I might or might not get 401(K) statements. I don’t look at them. Sometimes I save them. Usually I don’t. So I hadn’t looked at my 401(K) balance in years, and I really only had a vague idea what was in it. I knew there ought to be enough to make the lender happy.

What I found when I finally got my hands on a statement shows why part of my strategy is to never look at the account. Continue reading Set up your retirement account. Just do it. Then forget it.

My counterpoint to Forget Frugality

I saw a reference this week to an editorial by Ramit Sethi called Forget Frugality. While he has some good points, I think some of his advice is counterproductive and even contradictory. He argues that you should focus on earnings and negotiation instead of trying to actively cut costs.

I really think you have to do a combination of the three, and you should start with what you have the most control over, which is your own budget. Here’s what I have to say about his seven strategies. Continue reading My counterpoint to Forget Frugality