“You got to know when to hold em, know when to fold em,
Know when to walk away and know when to run.”
The Gambler, Kenny Rogers
Equity harveting is the practice of acquiring the highest possible mortgage on your personal home so you can “invest” the money derived from the equity that is extracted in another appreciating asset.
Don’t [...]
“Made it Ma! Top of the world! White Heat, 1949
Reverse mortgages are often portrayed as last-resort financial tools; reserved for widows and widowers who have outlived their liquid assets and have to tap the equity in their paid-for homes to survive a few more years.
Not so.
Meet Bob and Sally.
They live in a $1.2 million home [...]
“Prepare not a path for your chidren. Prepare your children for a path.”
Dr Agon Fly
The Bike…
Here’s an example of how one man prepared his child for a path and passed on a Legacy.
Mr. and Mrs. Smith started a “bank” for their only son when he was born. They used whole life insurance and funded it in anticipation of [...]
“You can fool some of the people all of the time,
and all of the people some of the time,
but you cannot fool all of the people all of the time.”
- Abraham Lincoln
President Lincoln didn’t live in the information, advertising and propoganda age we inhabit. Everything from politicians to religious beliefs, hamburgers to health care, infant [...]
“There are only two lasting bequests we can hope to give our children. One of these is roots, the other, wings.” -Hodding Carter
Don and Dawn want to give their children and grandkids both roots and wings. Strong Judeo/Christian values run through their veins and promise their progeny and heirs both roots and wings. There was something mising, [...]
“As God is my witness, I’ll never be hungry again.” Gone With the Wind, 1938
Over the past 40 years I have been a money and financial advisor to small businesses, medical, legal, accounting, real estate and other professionals as well as executives, school teachers and brick layers - people from every profession and occupation it seems.
Occupation, social status, [...]
“I’m king of the world!” Titanic, 1997
Americans have had a love affair with automobiles for over a century. We buy them with abondon; new, used, wrecked and restored. A car inflates our ego, provides useful transport and crystalizes our status. For many reasons it makes us feel like we are royalty; in charge of our world.
Unfortunately the [...]
The Oxford dictionary defines the word solution this way: “the act or a means of solving a problem or difficulty.”
The Money for Life Model for dealing with financial issues modifies both the spelling and the meaning of this word:“Soulutions” adds, ”with awareness of the spiritual aspects of both the problem or difficulty and the act or means [...]
Originally posted on February 17th, 2008
Comedians know about funny,
And beekeepers know about honey.
And chances are good
That both wish they could
Know more than they know about money.
Everyhting you do in life is affected by money and money affects everything you do.
Like the comedian and the beekeeper, you are an expert at what you do. You spend [...]
04.15Easy Money - Or Not…
“If you build it, he will come.” Field of Dreams, 1989
Bernice and Morrie were born poor. They want to escape the demands of a personal economy based on systematically acquiring wealth through saving, debt elimination and building equity in investments that are fully paid for. They are always looking for easy ways to get more money and more of the stuff [...]