Jul 04

Let’s start with Wealth Pilgrim’s Neal Frankle who answers the question “How Much Can I Afford For A House?” This is one of those recurring questions, and one that seemed to get ignored as the real estate bubble formed.

(well, I used a Fireworks image for my tips for Financial Independence, so a barbecue seemed appropriate for today)

Staying on the topic of first time homeowners, Doug Warshauer discussed “30 vs 15 Year Mortgage. Which is Best For First Time Homebuyers?” I think this can’t be answered without knowing a  lot more about the person doing the buying and choosing the mortgage. I’ll reserve my own further thoughts for a future post of my own.

Craig Ford at Money Help For Christians shares his thoughts on “When Do You Become Debt Free?” The question he raises – Are you still the slave of the lender if you have no debt other than a mortgage? Can you call yourself debt-free when you still don’t own your house outright, or does “I have a mortgage” mean “I am still in debt?”

I enjoyed New Versus Used: The Great Debate at the Millionaire Nurse Blog. An interesting list of things Dean would buy used, and then a shorter list he’d avoid. His ‘avoid’ list has “electronics” and I’ve had pretty good luck buying older electronics on eBay, but as always, your mileage may vary.

Another new-to-me blog I found this week was “eventual Millionaire” and Jaime’s post Compare Yourself to a Millionaire in which she offers some statistics from Dr Thomas Stanley’s The Millionaie Next Door. A good read from someone who seems to be taking the right steps as well.

And last this week, a nice post from Jeff at Deliver Away Debt, The Debt Destroyer System. Take a read there, sounds like Jeff’s financial independence isn’t too far away.

Enjoy a safe and happy holiday.

Joe

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Mar 28

First this week, I’d like to share Kevin Mercadante’s guest post on Fiscal Geek Is a 15 Year Mortgage Financial Suicide? Kevin’s post is what inspired me to write a post earlier this week comparing the 15 to the 30 year fixed rate loan. I agree with Kevin’s view on this, that the difference to go 15 is pretty high and in times like this, the cash flow may be more important.

Bucksome Boomer asks Can Baby Boomers Afford to Retire? The more data I see on this, the more concerned I become. It seems the average boomer has a nest egg of $84,000. Of course that implies the median number is much lower as many boomers have millions. A nice article discussing the options that lie ahead for this generation.

Frugal Real Estate reminds us that there’s a 2009 Property Tax Deduction for Non-itemizers.

Hank at Own The Dollar wrote the excellent There Is No Such Thing As The Lost Decade With Dollar Cost Averaging. I’m not going to ruin the punchline, take a read and see how an investor who started in 2000 would have fared by simply putting in an equal amount every month, the decade wouldn’t have treated her too badly. A great analysis, all I’d add myself is that thse number would have been better still had they been partially matched in a 401(k) account, as many of us have the bulk of our savings there.

On that same note, I’ll move on to Why You NEED To Contribute To Your 401(k) posted at My Two Dollars. For those who don’t contribute to their 401(k) this article offers an explanation of how they work, the present tax benefits, and potential for saving, long term. I’ve been 401(k)ing for 25 years, others may need a little push and better understanding of the process. This is a great start.

Living Almost Large talks about Buying too much, too much house, too much car, too much stuff. I suspect many of us fall into this trap. She’s not talking ‘frugal’ here, the sentiment leans more towards Dr Stanley’s  book “Stop Acting Rich.” The difference from the well chosen house to the ‘too big’ house really adding up over time. Today’s title taken with this blogger in mind.

With that, I’ll end this week’s roundup…..

Joe

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