Reverse Mortgage Pros and Cons: Is It Right for You?

If you are age 62 or older, I’m sure you’ve seen the countless commercials every day on TV about reverse mortgages. Whether it’s Henry Winkler (yes, the Fonz!) or Tom Selleck (yes, Magnum P.I.!) telling you about the wonderful advantages and the free information that you can get about them, you were probably a little curious if you own your own home and are looking for ways to help limit your mortgage costs and retirement expenses. Who wouldn’t want to do that?

Reverse Mortgage Pros and Cons: Is it right for you?

Truth be told, reverse mortgages are very complicated and are not the “be all end all” for everyone. There is danger in this process for some and as we all know when something sounds too good to be true, it probably is just that. So let’s cover some reverse mortgage pros and cons.Continue reading“Reverse Mortgage Pros and Cons: Is It Right for You?”

Beware of Cash! 9 Reasons to Avoid Using Cash

When you see a warning sign to “Beware of Dog” at a neighbor’s house, you know to avoid it because approaching it is potentially dangerous. So why is it then that a pile of cash doesn’t have a warning sign to scare us? In fact, that pile actually attracts us and even rules our lives. Barring those of us that spend our lives contemplating religion and/or the mysteries of the universe, I’m pretty certain that rest of us spend a great deal of time chasing, thinking about, talking about, and even worshipping the almighty dollar. Which is what made the phrase “cash is king” legendary. You may see a dog named “King”, but you don’t usually worship it.

Beware of Cash! 9 Reasons to Avoid Using Cash

Not too long ago I wrote about the likelihood of a cashless society, and how the worldwide trend is tracking that way including right here in the United States. But there is also a segment of our population that uses only cash for their own reasons. It has become a big part of millennial behavior these days, in part because the younger generation seriously wants to avoid debt. So many of them are saddled with huge student loans and credit card debts from abuse at an earlier time in their lives that they’re now defending their finances by resorting to the use of cash only when paying their day-to-day expenses. But is that really a good idea? Or should you avoid using cash?Continue reading“Beware of Cash! 9 Reasons to Avoid Using Cash”

Common Cents: Common Money Issues That Worry Me

Sometimes when I’m just not centered in the right mindset about my personal finance, I start to wander off on tangents about money issues I am facing and how to handle them. I know that I worry about them even though I now have a solid base in my financial plans. I am always completely honest in my approach to what has to be done and when to do it. And then it hits me. I am not alone in my worries about money nor am I alone in the many ways that are out there to deal with the money issues that I, and in fact all of us, face every day of the year. These are common problems we all have and we need the required common sense and money “cents” to solve them.

Common Cents: Common Money Issues That Worry Me

So let’s break it down.  Here’s a few of the issues that I think we all worry about and what we can do to help us get through them.Continue reading“Common Cents: Common Money Issues That Worry Me”

The Scary Unproductive Attitudes That Sabotage Your Work

If you have ever wondered why so many people aren’t successful at becoming financially healthy, wealthy and wise in the real world, you may have discovered that a lot of people are adept at the practice and behavior of being unproductive. After so many years of working in business, I think I’ve seen and heard just about every kind of excuse making for lack of productivity there is to be had. Those attitudes are pretty easy to spot in people and it matters not if you are a co-worker or the supervisor; it adds nothing to your day and hinders everyone around. In fact, it’s scary in the ways it can affect a business and even affect you, a productive dedicated employee.

The Scary Unproductive Attitudes That Sabotage Your Work

In past posts, we’ve talked about how you can be more successful, earn more, and get ahead in your career and thus your advancement on the road to financial health and wealth. Actions like going the extra mile, not being a clock watcher, and contributing your ideas to help solve problems will put you on that track every time. If you’re not careful, the unproductive people you see every day, or your own unproductive attitudes, can pull you into their karma and have you spinning your wheels just as they do.Continue reading“The Scary Unproductive Attitudes That Sabotage Your Work”

What You Need to Know About Filing for Bankruptcy

Have you ever thought about the possibility of filing for bankruptcy? You know it happens all the time. Today, many people find themselves drowning in debt and unable to keep up with their obligations. They find themselves in a desperate situation and bankruptcy offers a pathway back to stability. While it’s better to take responsibility and pay down your debts, there are times when this simply isn’t an option and bankruptcy is the only way.

What You Need to Know About Filing for Bankruptcy

If you haven’t done it yourself, I am betting you probably know of someone or some business that has declared bankruptcy. In fact, it’s become so common that even a presidential candidate can have had multiple business bankruptcies and still garner respect and admiration as a responsible and savvy money manager (as incredible as that might seem). Today it’s become the way to “liquidate debt” or “reorganize debt” in order to manage financial problems. It even may turn a very negative situation into a positive one.Continue reading“What You Need to Know About Filing for Bankruptcy”

Investment Pornography – Bulls and Bears and Brexit, oh my!

If you listen to the investment experts you see on the business networks like CNBC or Bloomberg to get advice every day about your stock portfolio or potential investment strategies, you’re likely to find in a space of an hour or so a complete jumble of advice. After hearing it, it may cause you to want to heave up your lunch or even worse, pull a blanket over your head and wait until it’s all over!

Investment Pornography - Bulls and Bears and Brexit, oh my!

That’s primarily due to what I call, are you ready…“the bullish bear, I think here’s what to expect or it may be something else, voice of sanity and a really good guess strategy” theory. Let’s face the facts, many of these “experts” have no more idea than you or I do especially if they’re working every day on TV and radio for a paycheck. After all, wouldn’t they be investing their own money and making big bucks with all of that so called knowledge and forecasting? While there are a few key rules in investing and growing your money, a lot of what is spouted each day is what is known as “investment pornography”.Continue reading“Investment Pornography – Bulls and Bears and Brexit, oh my!”

Will You Outlive Your Money in Retirement?

I’ve been retired officially for a couple of years now and I did a pretty good job of trying to save and prepare for my golden years. But truth be told, almost every month I wonder if I will have enough to last. Is it possible to outlive your money that you’ve stashed away in retirement plans? Actually, it’s the biggest fear of retired folks today and that’s according to experts. Over 44% of all persons and 41% of all retirees think they may and actually fear they might outlive their money!

Will You Outlive Your Money in Retirement?

Prepare yourself right now and avoid these pitfalls than can make your retirement a lot less than “golden” if you don’t get it right.Continue reading“Will You Outlive Your Money in Retirement?”

5 Old-School Savings And Investing Concepts That Still Work

Today’s guest post was sponsored by CO-OP Financial Services.

The world of investing is rapidly changing. We have seen the global economy rise and fall, with housing and stock market crises taking up headlines.

5 Old School Savings and Investing Concepts That Still Work

Even so, many tried-and-true concepts of saving and investing still provide the most stability for investors. In fact, you should brush up on at least five old-school financial concepts as a first step in securing your financial future. They may not represent a new model of thinking, but they’re all safe ways to protect your hard-earned money.Continue reading“5 Old-School Savings And Investing Concepts That Still Work”