It’s one of the most widely asked, light-hearted questions among people: • “If you won the lottery, what would you do with the money?” There’s the usual responses like buying a fancy new car, going on a shopping-spree, taking an exotic vacation, that thing you always wanted, etc. But after all you filter out all the fun responses, most people come to two very sensible responses: • “I’d use the money to payoff my house” • “I’d invest the money” Although not all of us will be winning the lottery anytime soon, we make much smaller-scale decisions along these lines all the time. For example: • Every paycheck when your money goes into a 401(k), have you ever considered if putting it towards your house was the better option? • Have you … [Read more...] about Which is Better – Paying Off Your Mortgage or Investing the Money? – Part 1
Archives for October 2011
Your Bills Are Negotiable
One of the many things my job has taught me is that the price of everything is negotiable. It’s basic supply and demand. If you don’t give someone the price they want, they’ll go find it somewhere else. The bottom line is whether or not they want to make a sale and keep you as a customer. That’s the little story I tell myself about every six months. What happens every six months? My TV service goes from the promotional price back to the normal price. And when it does, without hesitation, I call the cable company and politely ask “Is there anything you can do for me?” I don’t yell. I don’t stomp my feet. I simply ask the question fully understanding that the worst thing they could tell me is “no”. But they usually don’t … because the … [Read more...] about Your Bills Are Negotiable
Retirement Contribution Limits Increased in 2012
On Friday, the Internal Revenue Service (IRS) announced there will be an increase to the contribution levels for 401(k)’s, 403(b)’s, and the other similar government sponsored retirement plans. The changes will be as follows: • You can now contribute up to $17,000 (up from $16,500 this year) to eligible plans starting in 2012 • Catch-up contribution limits for the same eligible plans will still remain $5,500 for anyone age 50 and over • No change to the IRA (Traditional, Roth) contribution limits - $5,000 annually and $6,000 for anyone age 50 and older. • Roth IRA income limits will be increased by $3,000 to between $110,000 and $125,000 for singles / heads of household and by $4,000 for $173,000 to $183,000 for married couples filing … [Read more...] about Retirement Contribution Limits Increased in 2012
My Money Design Update – New Section on Passive Income
As promised in my post earlier today, I have created a page entirely devoted to the topic of “passive income” that will contain ideas, advice, and everything else worth sharing. This can be found at the “Passive Income” section in the top menu bar under the sub-heading “Passive Income Ideas”. Please explore these suggestions and feel free to share your comments. This page will also be continually updated as I collect new ideas or have new experiences to share. … [Read more...] about My Money Design Update – New Section on Passive Income
Adventures in Refinancing, Chapter 2
My quest to get our mortgage refinanced started off with great promise – like a hot air balloon up and off into the sky. But … it didn’t take long for it to come crashing back down onto the ground. Here are my experiences this week: Local Mortgage Company: The first place I called was a local mortgage company that was recommended to me by my neighbor. I have a very strategic reason for choosing this company: • My neighbor and I have the same exact model house. Our neighborhood is a new-build subdivision built around 8 years ago. My neighbor is also getting a home appraisal right now and that will give me a very good idea about what my house is worth (say to +/- 10%). After answering some initial questions, the agent gave me three … [Read more...] about Adventures in Refinancing, Chapter 2
Book Review: “Get Rich Click!” by Marc Ostrofsky
With a name like “Get Rich Click! The Ultimate Guide to Making Money on the Internet” by Marc Ostrofsky is a giant collection of tips and advice on just about everything you could do to start making money online. It covers dozens of topics including: • E-Commerce • Understanding Search Engines • Online Advertising • Improving you Search Engine Optimization (SEO) • Using affiliate marketing • Owning marketable domain names • Creating valuable content • Taking advantage of social networks • Setting up payment processing • Marketing for mobile phones • Using Internet videos • Partnering with non-profits … [Read more...] about Book Review: “Get Rich Click!” by Marc Ostrofsky
Adventures in Refinancing, Chapter 1
I’ve recently decided that I should take a hard look into getting a home refinance loan. Home interest rates are the lowest they have ever been in history and I need to take advantage of this opportunity before it is too late. However, the road may not be easy given how much I still owe on my house and what I think it is worth. I feel a lot of people are probably in this situation and curious about what options they may have. With that said, hopefully you find this series of posts useful towards your own efforts. … [Read more...] about Adventures in Refinancing, Chapter 1
Farewell Steve Jobs
This week the world lost Steve Jobs, one of the most influential figures in the technology and business world. Although Apple didn’t invent mp3’s or cell phones, they certainly created a phenomenal market for these items with their outstanding and must-have products such as the iPod and iPhone. Steve’s vision for these products and ability to get his company to innovate these creations is what took Apple from an ordinary computer maker to one of the strongest and most powerful companies in the world to date. One of my favorite stories about Steve Jobs is when he was first brought back to Apple in the late 90’s a few years after he was forced to leave. The company was heading towards bankruptcy and needed a change. At the time, Apple had … [Read more...] about Farewell Steve Jobs