Over the past decade or so, the fallacy that home equity should be “harvested” by means of mortgage refinancing or home equity loans and converted into equity in some other investment has been foisted upon Americans as a legitimate financial strategy.
The most common presentation of these schemes suggests that home equity should be redirected into what some advisors call ”investment grade life insurance.” Other schemes [...]
Someone recently asked about FDIC insurance for the money in the “banks” suggested by the EUREKONOMICS’ Money for Life Modelfor creating wealth and managing personal finances, which recommends that each American should act as his/her own banker. (Some advisors refer to these as “family banks,” “infinite banks,” or “personal banks.” The use of the term “banks,” “banking,” and [...]
Much later, according to a new poll of holiday shoppers by Consumer Reports.
In my book Money for Life…How to thrive in Good Times and Bad a great deal of time is spent discussing the Debt Paradigm; a system of thinking about money that suggests that you can have everything you need and want as long [...]
A recent ad by the national Association of Realtors states that home equity accounts for about 65% of the average American’s wealth.
WOW! There’s something wrong with that equation. That means that a family with a $500,000 house and a $300,000 mortgage - $200,000.00 in equity - plus a car loan or a few thousand dollars on a credit [...]
Consider this conversation with Mr. Silas Marner, the not-so-friendly banker at Scrooge & Marner Bank.
You speak:
“Good day Mr. Marner. Thanks for taking time to speak with me today about the purchase of an asset of real property. Mr. Marner, the property I want to purchase is valued at $1,000,000.00. Here are the terms I would [...]
“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, [...]
“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 [...]
If the price of gasoline doesn’t wake up America to the foolishness of its reliance on debt for lifestyle and “rate of return” and tax deferral for wealth creation, then we may all be speaking Arabic or Chinese within a few decades.
This blog and the book Money for Life…(thrive) in good times and bad are dedicated [...]
You can guess the difference in the net worth of Tom and Jerry; plus $750,000 to Jerry’s bottom line. Following the principles and practices that make you rich instead of making others rich is quite simple and quite painless. You don’t have to change your lifestyle. You do have to change your mind about money and how to employ it to your own best interest.
www.TheMoneyForLifeBook.com can show you how.