Believe it or not, the rules on debt and credit are brain-dead simple. Yet, it has become the biggest personal finance problem for most people. How can something so simple create so much difficulty? In this article I explain the deceptive nature of debt problems, the simple rules to keep you out of trouble, and the best solution if you already have debt or credit problems…
Payoff Debt Or Build Wealth? What To Do First…
Patty inquired… “I am aching to be free of my debt, and at the same time, I’ve been struggling to put 10% of my monthly income towards savings, and another 10% towards my IRA. Which should I do first? How should I prioritize? Find the answers here…
Can I Actively Trade My Way Out Of This Economic Mess?
A reader asks, “…I’m an architect suffering under this dreadful economy like so many of us are, and I need to do something to help carry me through… What I’d like to do is use a portion of my IRA funds to educate myself further in the investment arena, pay back the loan, and use the remainder of the IRA to actively invest for income and growth. In other words, keep a portion of the earnings to supplement my income and reinvest the rest for growth. Does that sound like a reasonable idea?” My short answer is…
Three Essential Economic Facts You Want To Know… Maybe
I am so sick of all the hype in the media. One guy is doom and gloom with the world entering cataclysmic depression by the end of the month. The next guy is optimistic that the Fed/Dr. Bernanke have cured all economic ills and we are on our merry way to perpetual prosperity and bliss. Such hype sells well but serves nobody. That is why I liked the following post from…
The Problems Hiding Behind Your Financial Advice
You want to believe financial experts know what they are doing. You hope they know something you don’t given their credentials and education. While some of those thoughts may be true, what overwhelms all those advantages are the conflicts of interest, bias and other problems that can taint the financial advice your receive and make it far less reliable than you might ever imagine. This new article explains what you need to know to protect yourself…
Essential Investment Reading For The Weekend
Conventional financial media is completely missing the economic boat. They publish endless nonsense about Washington while important issues are burning all around them. Here are some educational articles published in the last week that no investor should be without…
Should I Buy Insurance From A Commission Salesperson?
The question of the week comes from a reader who asks, “Do you think the only kind of advisor one should hire is a fee based one? I was told by a commission person that when they have a client buy an insurance policy they HAVE to take a commission. Is this true?” To answer that question we must expand the discussion to make some important distinctions that will allow you to make smarter investment decisions…
When Will The Bank Bailout Nonsense End?
The Fed and Treasury are spending your money in ways you likely would never approve of if you understood it. The sad reality is not one person in 1000 really comprehends the long-term implications of all the legislation favoring banking special interests at the direct expense of the public (you and me) – and that is why they get away with it. To gain a greater understanding of the ongoing and ever-escalating bank bailout insanity and what it will cost you…
What Causes Inflation And Why Should You Care?
For the first 400 years of our economic history inflation was benign at under one percent and then suddenly in the last 100 years it jumped dramatically. What caused the sudden and abrupt change in inflation? Simple – the Federal Reserve bank was established. Why should you care? Again simple, because inflation changes everything…
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