Salient to Investors: The Consumer Financial Protection Bureau reports the share of Americans 65 and older with mortgage debt rose to 30% in 2011 with a median debt adjusted for inflation of $79,000, from 22% in 2001 with a median debt of $43,400. The increase in mortgage debt makes these households more susceptible
READ MORE... →Five Reasons Why You’ll Never Be Rich And One Reason Why You Already Are – Personal Capital May 2014
Salient to Investors: 5 habits that prevent you from becoming wealthy: Being a “C” student who thinks they deserve an “A” lifestyle Inability to delay gratification by taking on debt. Credit card interest at 15%+ leads to financial failure – even Warren Buffet has not returned greater than a 15%
READ MORE... →Salient to Investors: The wealth effect from rising house prices may no longer be as effective in spurring the US economy as homeowners increasingly pay down mortgage principal and shorten maturities. Freddie Mac said cash-in refinancings outnumbered cash-outs by more than 2-to-1 in Q4 2012. Amir Sufi at the University of Chicago said the
READ MORE... →Salient to Investors: Suze Orman says: There is only one way to pay down credit card debt, from the highest interest rate down and pay the minimum on every card. Asking banks to lower the interest rate doesn’t work anymore. If you have a good FICO score then do a balance transfer
READ MORE... →Salient to Investors: Suze Orman says: There is nothing more important in your life than financial independence Every state has a statute of limitations after which creditors cannot chase you – for example 6 years in New York. Collectors often accelerate calling just before the statute of limitations is up. If you promise
READ MORE... →