Many people dream about reaching the million-dollar net worth milestone, as if that lofty benchmark somehow guarantees a strife-free financial life. Preposterous! Net worth — the value of your total assets minus your total liabilities — is overrated because it’s very misleading, as evidenced by many “paper millionaires” who struggle to make ends meet. Yes, net worth is a terrific indicator for estate planning, or identifying how much insurance you
Continue reading 100 Words On: Why Tracking Your Net Worth Is So Overrated
It’s often said that a house is our biggest investment, yet the primary function of any house is to simply provide us with a place to live. Yes, handsome gains can be had for those with good timing. However, as investments go, houses rarely match the long-term returns of stocks. And most people forget that property taxes, maintenance costs, insurance, and even real estate agent fees eat into those returns.
Continue reading 100 Words On: Why A Home Shouldn’t Be Considered an Investment
The other day I came across an interesting article that suggested a healthy dose of skepticism was essential when you’re watching television commercials that make claims for both prescription and non-prescription drugs.
It turns out a study published in the Journal of General Internal Medicine found that 66% of claims made in television drug commercials were either misleading or flat-out false.
Actually, before paying for anything, a little skepticism can often go
Continue reading 8 Misleading Claims People Often Make To Close a Deal
A mortgage is often the single biggest loan someone obtains in his or her lifetime, typically costing tens of thousands of dollars in interest alone. Therefore it’s especially important to avoid some of the key mistakes that many home buyers make throughout the process of finding a lender and acquiring a home loan.
Here are five of the biggest errors home buyers make when obtaining a mortgage:
Having Unreasonable Expectations
Home buyers often
Continue reading The 5 Biggest Mortgage Mistakes a Home Buyer Can Make
No, this isn't Tiger Woods' house — but you get the idea.
When it comes to holes-in-one, I always tell anyone who will listen that Tiger Woods has got nothing on me.
Did you know I recorded my first ace not long after reaching my 18th birthday, fully two months before Tiger got his first one? I did.
Of course, Tiger was just 6 when he got his. I also have yet
Continue reading Comparing Tiger Woods’ Home Carrying Costs to Mine
When I was a kid I used to love the fun houses found at summer carnivals and local fairs.
I loved the sense of twisted reality provided by image-distorting mirrors and the wacky side-rooms where water appeared to flow uphill and it was nearly impossible to stand straight.
Today, thanks to an extended period of near-zero interest rates, years of massive government deficits, and central bank “money printing,” we’re all stuck in
Continue reading 5 Personal Finance Tenets That Aren’t as Smart as They Used to Be
For many people, owning a home is part of the American Dream. Given the recent explosion of available homes on the market coupled with historically low interest rates, it’s no wonder that more and more people are taking steps to purchase their own home. With a bit of careful planning and consideration of the following tips, you can ensure your future as a homeowner isn’t merely a pipe dream.
Continue reading Three Key Steps to Becoming a Homeowner
The housing market across the country has been through rough times and recent data seems to indicate that the worst may be over. But is this really the case?
There are numerous factors in play in the housing market such as supply and demand, regional economic conditions, unemployment rates, shadow inventory, and mortgage rates. The last two take on special significance in the current housing scenario. Let’s take a closer look
Continue reading Housing Market: Shadow Inventory and Mortgage Rates
Going through the mortgage process can be an intimidating, overwhelming experience, even for people who have done it before.
For newcomers, it can be especially difficult. It’s easy to understand why: you’re facing the prospect of entering into an agreement that puts you on the hook for huge amounts of money over a very long period of time.
Mortgage contracts are long, complicated and filled with minutiae. The entire process can be
Continue reading 3 Essential Tips for Finding the Best Home Loan
Dominique Brown is a financial planner, landord, personal finance blogger and video blogger. He is the owner of YourFinancesSimplified.com where he talks about everything from being a new father to his worst financial mistakes. He is also the owner of InsiderRealEstateTips.com where he talks about real estate exclusively. You can find him either on Twitter, Facebook, Youtube or Instagram.
It can be overwhelming to wake up one day and realize, “OMG!
Continue reading 4 Steps to Take When You Realize That OMG! I Need to Sell My House