Wednesday, 31 May 2017

Why Early Retirement Isn’t My Goal (and Shouldn’t Be Yours Either)

Hey everyone! Today I have a great guest post for you by RHMM of RightHandMoneyMan.com. EVERYONE is talking about early retirement right now, so I think it’s really interesting to see a different perspective on it. This post definitely made me consider what my definition of “retirement” actually is. Enjoy! ~M$M Early retirement is all...

The post Why Early Retirement Isn’t My Goal (and Shouldn’t Be Yours Either) appeared first on Millennial Money Man.


Why Early Retirement Isn’t My Goal (and Shouldn’t Be Yours Either) posted first on cashforcarsperthblog.blogspot.com

The argument for owning European equities http://on.ft.com/2rTN0Ce 

The argument for owning European equities http://on.ft.com/2rTN0Ce 


The argument for owning European equities http://on.ft.com/2rTN0Ce  posted first on cashforcarsperthblog.blogspot.com

Why is consumer debt hitting the headlines? http://on.ft.com/2qA0hf2 

Why is consumer debt hitting the headlines? http://on.ft.com/2qA0hf2 


Why is consumer debt hitting the headlines? http://on.ft.com/2qA0hf2  posted first on cashforcarsperthblog.blogspot.com

Tuesday, 30 May 2017

Where should I put my money to get the maximum gains? http://on.ft.com/2rR8DTy 

Where should I put my money to get the maximum gains? http://on.ft.com/2rR8DTy 


Where should I put my money to get the maximum gains? http://on.ft.com/2rR8DTy  posted first on cashforcarsperthblog.blogspot.com

Time to scrap the Isa tax haven http://on.ft.com/2rQO49Z 

Time to scrap the Isa tax haven http://on.ft.com/2rQO49Z 


Time to scrap the Isa tax haven http://on.ft.com/2rQO49Z  posted first on cashforcarsperthblog.blogspot.com

Aviva considers final salary pensions advice move http://on.ft.com/2quXNyJ 

Aviva considers final salary pensions advice move http://on.ft.com/2quXNyJ 


Aviva considers final salary pensions advice move http://on.ft.com/2quXNyJ  posted first on cashforcarsperthblog.blogspot.com

Randgold chief cashes in as metal value rises http://on.ft.com/2qnw9nd 

Randgold chief cashes in as metal value rises http://on.ft.com/2qnw9nd 


Randgold chief cashes in as metal value rises http://on.ft.com/2qnw9nd  posted first on cashforcarsperthblog.blogspot.com

Investors Chronicle: National Grid, Thomas Cook, Severn Trent http://on.ft.com/2rHgD9H 

Investors Chronicle: National Grid, Thomas Cook, Severn Trent http://on.ft.com/2rHgD9H 


Investors Chronicle: National Grid, Thomas Cook, Severn Trent http://on.ft.com/2rHgD9H  posted first on cashforcarsperthblog.blogspot.com

FCA ‘misses a trick’ on pension protections http://on.ft.com/2rGMQ0T 

FCA ‘misses a trick’ on pension protections http://on.ft.com/2rGMQ0T 


FCA ‘misses a trick’ on pension protections http://on.ft.com/2rGMQ0T  posted first on cashforcarsperthblog.blogspot.com

Landlord scraps tenant rental deposits http://on.ft.com/2qmWhib 

Landlord scraps tenant rental deposits http://on.ft.com/2qmWhib 


Landlord scraps tenant rental deposits http://on.ft.com/2qmWhib  posted first on cashforcarsperthblog.blogspot.com

The hidden thousands parents pay for university living expenses http://on.ft.com/2qlIVT9 

The hidden thousands parents pay for university living expenses http://on.ft.com/2qlIVT9 


The hidden thousands parents pay for university living expenses http://on.ft.com/2qlIVT9  posted first on cashforcarsperthblog.blogspot.com

UK urged to prepare for workforce of 80-year-olds http://on.ft.com/2rFaJpq 

UK urged to prepare for workforce of 80-year-olds http://on.ft.com/2rFaJpq 


UK urged to prepare for workforce of 80-year-olds http://on.ft.com/2rFaJpq  posted first on cashforcarsperthblog.blogspot.com

House prices — sellers forced to offer discounts http://on.ft.com/2rEt0mW 

House prices — sellers forced to offer discounts http://on.ft.com/2rEt0mW 


House prices — sellers forced to offer discounts http://on.ft.com/2rEt0mW  posted first on cashforcarsperthblog.blogspot.com

Has the penny finally dropped about useless copper coins? http://on.ft.com/2rCHkfz 

Has the penny finally dropped about useless copper coins? http://on.ft.com/2rCHkfz 


Has the penny finally dropped about useless copper coins? http://on.ft.com/2rCHkfz  posted first on cashforcarsperthblog.blogspot.com

Zopa to revamp peer-to-peer lending model http://on.ft.com/2qiRDBz 

Zopa to revamp peer-to-peer lending model http://on.ft.com/2qiRDBz 


Zopa to revamp peer-to-peer lending model http://on.ft.com/2qiRDBz  posted first on cashforcarsperthblog.blogspot.com

Daniel Godfrey banks on green tech in trust launch http://on.ft.com/2qiIvNk 

Daniel Godfrey banks on green tech in trust launch http://on.ft.com/2qiIvNk 


Daniel Godfrey banks on green tech in trust launch http://on.ft.com/2qiIvNk  posted first on cashforcarsperthblog.blogspot.com

Pension savers lured to cash in final salary benefits http://on.ft.com/2qibOzt 

Pension savers lured to cash in final salary benefits http://on.ft.com/2qibOzt 


Pension savers lured to cash in final salary benefits http://on.ft.com/2qibOzt  posted first on cashforcarsperthblog.blogspot.com

Investment is in the blood for stem cell futurists http://on.ft.com/2rBLK6o 

Investment is in the blood for stem cell futurists http://on.ft.com/2rBLK6o 


Investment is in the blood for stem cell futurists http://on.ft.com/2rBLK6o  posted first on cashforcarsperthblog.blogspot.com

Biometric banking most popular in UK http://on.ft.com/2qexVad 

Biometric banking most popular in UK http://on.ft.com/2qexVad 


Biometric banking most popular in UK http://on.ft.com/2qexVad  posted first on cashforcarsperthblog.blogspot.com

Police probe self-storage investment ‘fraud’ http://on.ft.com/2rwHN2W 

Police probe self-storage investment ‘fraud’ http://on.ft.com/2rwHN2W 


Police probe self-storage investment ‘fraud’ http://on.ft.com/2rwHN2W  posted first on cashforcarsperthblog.blogspot.com

Million Dollar Question: Pay Off Your Mortgage Early or Invest More Now?

A tough decision many homeowners face is to either pay off the mortgage early, or invest. They might decide to invest more towards stocks, bonds, mutual funds, or towards your retirement savings.

The tradeoff comes down to reaching debt freedom sooner, or having a larger investment portfolio when you retire.

The million dollar question becomes:

Should I pay down the mortgage faster or invest more in the market?

Advantages of Paying Your Mortgage Early

Absolute Debt Freedom

The largest advantage of paying down your mortgage early is you own your house sooner. Paying off your mortgage (or any loan) early means you save tens of thousands of dollars in interest. To see what this looks like for you, you can enter in your own mortgage stats into this mortgage calculator and see how much you can save by contributing an extra amount each month. Even as little as $100 extra every month, is still quite a bit of savings over the life of your loan.

Bonus: If you didn’t have enough to make the 20% down payment when purchasing your home, extra payments will also help eliminate your private mortgage insurance earlier, and therefore save thousands of dollars in insurance premiums you are paying to the bank to protect the bank from….well…..you.

The Peace of Mind

What’s one of the largest recurring expenses in your life?

Your mortgage payment.

Once you pay off the mortgage, you can take that monthly payment and redirect it towards your investments. Obviously you did miss out on compound interest while paying down your mortgage, but remember you also saved a bunch of money by eliminating the interest paid on your loan early.

And don’t forget once you pay off your mortgage, you will no longer have the ability to deduct the mortgage interest come tax time. However, more than likely you are better off with the savings in interest versus any tax savings you get from the mortgage tax deduction.

Here’s an Example:

Let’s pretend you earn $50,000 per year and you owe $200,000 on your mortgage at 4.5 percent interest. Therefore you would pay roughly $9,000 in mortgage interest and would then deduct that amount from your taxable income. The result is instead of getting taxed on $50,000 this year, you would only be taxed on $41,000.

This puts you in the 25 percent tax bracket and since you lowered your taxable income by $9,000 with the deduction from the mortgage interest, you will save $2,250 come tax time.

However, once your house is paid off this deduction goes away, which is why the majority of people think it’s a good idea to keep your mortgage for the deduction.

Why are they wrong?

Yes, it’s true you are losing out on the tax deduction by paying off your mortgage earlier. But, you are also avoiding paying any mortgage interest as well. The result is you are now paying the government $2,250 versus paying the bank $9,000.

Here’s another way to think about it: You have the choice to owe Sam $2,250 or owe Bob $9,000. I think it makes sense to pay Sam and save, invest, or do whatever you want with the money you didn’t pay Bob 🙂

Reminder: You must itemize your taxes if you plan on deducting your mortgage interest.

Disadvantages of Paying Your Mortgage Early

should i pay off mortgage earlyCan You Afford an Emergency?

It can be real easy to raid your emergency fund or divert savings to pay off your mortgage early. If an unexpected event happens such as losing your job or getting hospitalized, you might have to pull from your emergency fund to pay your bills. Investments however can be sold off instantly (non-retirement investments) which gives you immediate access to cash when you need it.

If the majority of your money is in the equity in your house, you potentially could end up having to take out a loan against your home to pay the bills. Therefore, it’s imperative to have an emergency fund before you start making any extra mortgage payments or investments.

Don’t Maximize Your Peak Investing Years

The #1 investing secret is time.

It’s what allows a 20-year old who invests less overall to retire with more than somebody waiting until their 30s to start investing. By making extra mortgage payments, you might not have as much money as you would if you invested more in your younger years.

Utilize this Investment Calculator to see how much your investments can grow over time. Then compare that amount to how much money you can save in interest by making extra mortgage payments to help you make your decision.

Advantages of Making Extra Investments

Overall Market Returns Are Higher Than Mortgage Interest Rates

The current national average 30-year fixed mortgage rate is approximately 3.84%. If you had invested in the S&P 500 for the previous 5 years, your average annual return would have been 5.54%. That’s almost 2% more each year your money can earn. And, if the market performs better in the upcoming years, the income potential gets even higher by investing your extra income.

Let’s do some quick math comparing how much money you can save in interest or earn from investments.

Extra Mortgage Payments

Your minimum monthly payment (principal and interest) will be $1,170 for a $250,000 30-year fixed rate mortgage with a 3.84% interest rate. Did you know you will pay approximately $171,000 in interest if you take all 30 years to pay the mortgage? Ouch!

However, by making one extra half mortgage payment each month ($1,755 monthly payment versus $1,170 monthly payment), your house will be paid off 14 years earlier and you will save $87,000 in interest!

Extra Investments

What if instead of making the extra half payment each month, you decide to make the minimum mortgage payment and invest that same amount instead?

If you invest the additional $585 payment every year for 14 years (the time it would take to pay off your mortgage with the added monthly amount), you will have $178,997 in the end.

This amount is determined from the $98,865 you invested and the $80,132 in interest assuming a eight percent annual rate of return.

In this example, it appears the extra investments would return $80,132 while the same amount applied to your mortgage will save you $87,000.

Keep this in mind the RISK factor.

The interest rate on your mortgage is locked if you have a fixed rate mortgage. On the other hand, there are no guarantees with investing. We hope, pray, and assume we earn an eight percent annual return over 14 years, but we can’t guarantee it.

Here’s the same example above with an investment rate of return of:

Two percent: $15,246

Four percent: $33,326

Six percent: $54,741

Eight percent: $80,132

Ten percent: $110,241

Takeaway: You must calculate the RISK factor

Potentially Maximize 401k & IRA Contributions

By making extra monthly investments, you have the ability to max out your IRA & 401k contributions. Currently the annual maximums (2017) are $5,500 for IRAs and $18,000 for 401k plans. This means you are not only earning compound interest (passive income) but more of it is saved in tax-favored accounts. By waiting to invest, any extra investments might be fully taxable if you have already maxed out your retirement accounts for the year.

Related: What in the World is a ROTH IRA?

Disadvantages of Making Extra Investments

The Markets Could Tank

If the stock market enters a bear market (slow moving and downward market), your investments might actually lose money for a few years. Not only do you lose money, but don’t forget you still have a monthly mortgage payment to make. History tells us the markets will move up and down in a cyclical fashion, but once your mortgage is gone, you are free from the stress of making a mortgage payment in a bear market with a down economy.

You Still Have Debt

Making extra investments can be a wise long-term financial move. Especially if you can still retire debt-free and afford to retire on time. However, some people just simply hate remaining in debt & having to make yet another monthly payment for the next 15 to 30 years. If you want the peace of mind, making extra mortgage payments today means a lower cost of living sooner than later.

What Should You Do?

Deciding to make extra mortgage payments or invest in the market depends on several factors including your current income and debts, tolerance for debt, and your short-term and long-term financial vision.

Extra Mortgage Payments

It is better to make extra mortgage payments when:

  • You want to become debt-free as quickly as possible
  • Most of your current paycheck goes to monthly loan payments (credit cards, car loans, house)
  • You are already meeting your employer 401k match and/or saving at least 15% for retirement and plan to make extra investments once your mortgage is paid off.

As you are already in the mindset of making extra mortgage payments, use that money to make extra investments once you pay off the mortgage.

Extra Investments

You might pursue extra investments if:

  • You view your current mortgage rate as “cheap money” because the stock market will yield a higher amount over the life of your mortgage.
  • Want to keep your disposable income “liquid” as investments can be sold almost immediately while your house can sit on the market for months.

Nobody can predict the performance of the investment markets. If you don’t plan on using the extra investment money in the next five years, you can potentially earn more money than the interest you will pay on a 15-year or 30-year mortgage. You will have higher monthly expenses for a longer timeframe but you may have a larger net worth in retirement.

Summary

If you decide to make extra mortgage payments, make sure you don’t stop investing altogether. Your first priority should be getting out of debt as soon as possible, but also take advantage of your employer retirement benefits such as matching 401k contributions or even contributing $100 a month to a Roth IRA. The bottom line is you still need to plan for the future.

Extra investments, in lieu of extra mortgage payments, will set you up for financial security in the coming decades. But, you can’t ignore the risk factor. There is an old saying in investing from Mark Twain that goes:

October: This is one of the peculiarly dangerous months to speculate in stocks. The others are July, January, September, April, November, May, March, June, December, August, and February.

There will never be a black and white answer when it comes to the million dollar question of mortgage versus investing. The bottom line is to simply understand how to get to your own answer based on your life and your money.

Good luck!

The post Million Dollar Question: Pay Off Your Mortgage Early or Invest More Now? appeared first on Money Peach.


Million Dollar Question: Pay Off Your Mortgage Early or Invest More Now? posted first on cashforcarsperthblog.blogspot.com

Monday, 29 May 2017

What My Dogs Are Teaching Me About Slow Living

May was not meant to be a month of silence. I did not intend to disappear. My plan with the slow technology experiment was only to take a break from social media – not the blog. I had planned to write a post about the role television plays in my life, these days. I had also planned
What My Dogs Are Teaching Me About Slow Living posted first on cashforcarsperthblog.blogspot.com

Aviva considers final salary pensions advice move http://on.ft.com/2quXNyJ 

Aviva considers final salary pensions advice move http://on.ft.com/2quXNyJ 


Aviva considers final salary pensions advice move http://on.ft.com/2quXNyJ  posted first on cashforcarsperthblog.blogspot.com

Have a Great Memorial Day!

For my Canadian readers…I know this is just another Monday for you, and I’m sorry. Monday’s are the worst. Here’s an article you might like if you haven’t read this one yet: Does a Higher Salary Lead to Happiness? To everyone else – I’m taking Memorial Day off! My wife and I are going to...

The post Have a Great Memorial Day! appeared first on Millennial Money Man.


Have a Great Memorial Day! posted first on cashforcarsperthblog.blogspot.com

Saturday, 27 May 2017

Randgold chief cashes in as metal value rises http://on.ft.com/2qnw9nd 

Randgold chief cashes in as metal value rises http://on.ft.com/2qnw9nd 


Randgold chief cashes in as metal value rises http://on.ft.com/2qnw9nd  posted first on cashforcarsperthblog.blogspot.com

Investors Chronicle: National Grid, Thomas Cook, Severn Trent http://on.ft.com/2rHgD9H 

Investors Chronicle: National Grid, Thomas Cook, Severn Trent http://on.ft.com/2rHgD9H 


Investors Chronicle: National Grid, Thomas Cook, Severn Trent http://on.ft.com/2rHgD9H  posted first on cashforcarsperthblog.blogspot.com

FCA ‘misses a trick’ on pension protections http://on.ft.com/2rGMQ0T 

FCA ‘misses a trick’ on pension protections http://on.ft.com/2rGMQ0T 


FCA ‘misses a trick’ on pension protections http://on.ft.com/2rGMQ0T  posted first on cashforcarsperthblog.blogspot.com

What’s the Best Summer Vacation You’ve Ever Been On?

Alright – I’m going to admit up front that this is probably the most selfish post I’ve ever written for M$M. Usually I try to put out something that’s really insightful or interesting enough to start off your day on a positive note. But, every once in a while I want to try to take...

The post What’s the Best Summer Vacation You’ve Ever Been On? appeared first on Millennial Money Man.


What’s the Best Summer Vacation You’ve Ever Been On? posted first on cashforcarsperthblog.blogspot.com

Landlord scraps tenant rental deposits http://on.ft.com/2qmWhib 

Landlord scraps tenant rental deposits http://on.ft.com/2qmWhib 


Landlord scraps tenant rental deposits http://on.ft.com/2qmWhib  posted first on cashforcarsperthblog.blogspot.com

Thursday, 25 May 2017

Has the penny finally dropped about useless copper coins? http://on.ft.com/2rCHkfz 

Has the penny finally dropped about useless copper coins? http://on.ft.com/2rCHkfz 


Has the penny finally dropped about useless copper coins? http://on.ft.com/2rCHkfz  posted first on cashforcarsperthblog.blogspot.com

Zopa to revamp peer-to-peer lending model http://on.ft.com/2qiRDBz 

Zopa to revamp peer-to-peer lending model http://on.ft.com/2qiRDBz 


Zopa to revamp peer-to-peer lending model http://on.ft.com/2qiRDBz  posted first on cashforcarsperthblog.blogspot.com

Daniel Godfrey banks on green tech in trust launch http://on.ft.com/2qiIvNk 

Daniel Godfrey banks on green tech in trust launch http://on.ft.com/2qiIvNk 


Daniel Godfrey banks on green tech in trust launch http://on.ft.com/2qiIvNk  posted first on cashforcarsperthblog.blogspot.com

Episode 44: Serial Entrepreneur, Ketogenic Diet, & Hangover-Free Wines with Todd White

My Guest on the Show…

I asked serial entrepreneur and the founder of Dry Farm Wines, Todd White, to come on the show to throw a ton of value at us.

First off, Todd has a massive level knowledge on life as an entrepreneur. As someone who has been an entrepreneur since he was 13 years old, Todd shares a ton of what it takes to get started, overcome extreme failure, and focus on the one thing that really matters – providing value to enhance the lives of others.

BONUS: Never have I mentioned this before, but I have personally lived on a Ketogenic diet for the past five months. Todd is also a master of ketosis and has been in a ketogenic state for the past 3.5 years.

What the heck is Ketosis you say?

A ketogenic diet is a high fat, low carb, moderate protein diet with primary benefits of increased health function and high levels of brain function. One of the beautiful byproducts of a ketogenic diet is the incredible rate of fat burning and decreased levels of hunger. To put it simple – people who are are living on a strict keto diet are extremely lean and never hungry.

Entrepreneurship plus ketosis takes us to the third part of the conversation – HEALTHY WINE.

Todd started Dry Farm Wines because of his passion for a healthy and keto-friendly wine. Today, Dry Farm Wines is the choice of health advocates across the globe due to their sugar-free, low carb, and all natural wine selection.

Dry Farm Wines are Paleo-friendly, Keto-friendly, and Low-carb friendly wines that are delivered right to your doorstep at an average cost of $22 per bottle.

HOWEVER, MONEY PEACH LISTENERS GET THEIR FIRST BOTTLE FOR ONE PENNY.

Claim Your Penny Bottle

(and get a free gift along with it)

Now, I have a few questions for you all…

What are some of your questions you would like answered on the show? Simply leave a comment at the bottom and let me know or you can contact me here and ask anonymously.

Are you enjoying the podcast? If you do, would you be willing to leave a review for the show here? The more reviews the podcast receives, the more people will learn about it!


The Money Peach Podcast is brought to you by my #1 online program for showing you how to budget, how much to save, how to manage your debt payoff, when to save for retirement, what to teach your kids about money, and how to build a legacy to last beyond your lifetime.

If you find yourself continuing to live paycheck-to-paycheck and wondering where all the money went at the end of the month, it’s time to finally make a positive change. Welcome to the class they forgot to teach you about money – Awesome Money Course.

Mentioned in this Episode


Dry Farm Wines

Ketogenic Diet (My go-to Ketogenic website)

Tools of Titans by Tim Ferriss

Arnold Schwarzenegger on Meditation [Podcast]

Awesome Money Course

 

The post Episode 44: Serial Entrepreneur, Ketogenic Diet, & Hangover-Free Wines with Todd White appeared first on Money Peach.


Episode 44: Serial Entrepreneur, Ketogenic Diet, & Hangover-Free Wines with Todd White posted first on cashforcarsperthblog.blogspot.com

Pension savers lured to cash in final salary benefits http://on.ft.com/2qibOzt 

Pension savers lured to cash in final salary benefits http://on.ft.com/2qibOzt 


Pension savers lured to cash in final salary benefits http://on.ft.com/2qibOzt  posted first on cashforcarsperthblog.blogspot.com

Investment is in the blood for stem cell futurists http://on.ft.com/2rBLK6o 

Investment is in the blood for stem cell futurists http://on.ft.com/2rBLK6o 


Investment is in the blood for stem cell futurists http://on.ft.com/2rBLK6o  posted first on cashforcarsperthblog.blogspot.com

Wednesday, 24 May 2017

I Make $200,000ish a Year and Dress Like a Scrub

If my wife knew I was writing this, she would roll her eyes so hard. As much as she tries (and she is like full-time dedicated to this), I just don’t care about what I wear or if people think I’m broke. Perfect example – I’m currently sitting in a coffee shop that I come to...

The post I Make $200,000ish a Year and Dress Like a Scrub appeared first on Millennial Money Man.


I Make $200,000ish a Year and Dress Like a Scrub posted first on cashforcarsperthblog.blogspot.com

Tuesday, 23 May 2017

Biometric banking most popular in UK http://on.ft.com/2qexVad 

Biometric banking most popular in UK http://on.ft.com/2qexVad 


Biometric banking most popular in UK http://on.ft.com/2qexVad  posted first on cashforcarsperthblog.blogspot.com

Police probe self-storage investment ‘fraud’ http://on.ft.com/2rwHN2W 

Police probe self-storage investment ‘fraud’ http://on.ft.com/2rwHN2W 


Police probe self-storage investment ‘fraud’ http://on.ft.com/2rwHN2W  posted first on cashforcarsperthblog.blogspot.com

Should You Sell Your Home to Pay Off Debt?

Many people share the dream of owning their own home. But as most homeowners know, finally achieving that dream can also mean having high monthly mortgage payments as a result.

Factor in the other associated expenses, along with all the other bills you have, and money can get a little tight. Plus, a mortgage is usually the largest debt you owe. So, if you really want to be debt free, should you sell your home?

Here are a few things to consider before you decide to sell your home to pay off debt.

1. Smaller Payments

When the biggest chunk of debt you have is your home loan, it can be very tempting to try to get out from under it by selling your home. However, you shouldn’t make a decision with haste.

Instead, consider all of the factors and run the numbers before you pick up the phone to call or text your realtor. For example, have you compared your current house payment to what it would cost you to rent? Of course, the amount of a potential rent payment could vary quite a bit depending on whether or not you are also willing to downsize.

Additionally, if you are planning on purchasing a smaller home rather than renting, you may not eliminate as much debt as you think, especially if current home prices are high. It isn’t always a smart move to sell your home in order to reduce debt.

2. Quality

Unless you have no other choice, quality is something to consider when you are thinking about selling your home to get rid of debt. Does your current home have a lot of upgrades? Selling a nice home and moving into a rental could mean giving up many of the features you enjoy in order to reduce debt.

You should scope out rentals before you decide to put the “for sale” sign up in your yard. Many times the units available for rent are poorly maintained as well as outdated.

Be sure to decide if this is a big influencing factor for you and your family. Of course, sacrifices are often required in order to pay off debt.

3. Maintenance

Home maintenance is another factor many people consider when trying to decide whether or not they should sell their home to pay off debt. Even if you think you are going to save money in this area, that may not necessarily be the case.

If you decide to sell your home and buy a smaller one, you may still have to spend just as much, if not more, on maintenance. For instance, if your current home has been well maintained you may not need to sink much money into it for a few years. Buying a smaller home that hasn’t been taken care of could saddle you with home repairs shortly after moving in. Suddenly, you are right back where you started. You’ll have debt and high bills to pay for all of the maintenance and repairs on the smaller home.

4. Utilities

You might automatically think moving to an apartment, rental, or smaller home will save you in utility costs. But again, that isn’t always the case. If your current home was built to be energy efficient, and you are using HE appliances, your monthly utility bills may not be all that much different even if you move to a smaller home.

When you are comparing the dream of home ownership with the dream of reducing your debts, take the time to think over all of the contributing factors. Don’t make a hasty decision that could cause you regret. There may be alternatives, such as taking on a roommate or renting out a portion of your home to bring in additional income. But, in the end, only you know if selling your home to pay off debt is the right decision.

The post Should You Sell Your Home to Pay Off Debt? appeared first on Money Peach.


Should You Sell Your Home to Pay Off Debt? posted first on cashforcarsperthblog.blogspot.com

Monday, 22 May 2017

Tips for Building a Home and Sticking With Your Budget

Well, it’s been a long road to get to this point. The days of renting are almost over for us! A few months ago, my wife and I started the home buying process, and through some twists and turns have landed on building a home. Very fortunately, we have a lot of people around us...

The post Tips for Building a Home and Sticking With Your Budget appeared first on Millennial Money Man.


Tips for Building a Home and Sticking With Your Budget posted first on cashforcarsperthblog.blogspot.com

Friday, 19 May 2017

HSBC’s Flint offloads £1m http://on.ft.com/2rmg8Sa 

HSBC’s Flint offloads £1m http://on.ft.com/2rmg8Sa 


HSBC’s Flint offloads £1m http://on.ft.com/2rmg8Sa  posted first on cashforcarsperthblog.blogspot.com

What the election promises mean for your money http://on.ft.com/2rls4Us 

What the election promises mean for your money http://on.ft.com/2rls4Us 


What the election promises mean for your money http://on.ft.com/2rls4Us  posted first on cashforcarsperthblog.blogspot.com

Bring on the price war in the retail investment sector http://on.ft.com/2q0myCD 

Bring on the price war in the retail investment sector http://on.ft.com/2q0myCD 


Bring on the price war in the retail investment sector http://on.ft.com/2q0myCD  posted first on cashforcarsperthblog.blogspot.com

Transitioning from a Saver to an Aggressive Investor

We’ve all heard the narrative about Millennials – we’re scared to invest, stuff money in our mattresses, and have trust issues. Any time that I’ve spoken at conferences or with reps from big banks, the questions about gaining millennials’ trust and why many of people in this generation haven’t fully embraced investing come up. The...

The post Transitioning from a Saver to an Aggressive Investor appeared first on Millennial Money Man.


Transitioning from a Saver to an Aggressive Investor posted first on cashforcarsperthblog.blogspot.com

Social care: why we all need to share the bill http://on.ft.com/2pZWDuJ 

Social care: why we all need to share the bill http://on.ft.com/2pZWDuJ 


Social care: why we all need to share the bill http://on.ft.com/2pZWDuJ  posted first on cashforcarsperthblog.blogspot.com

Thursday, 18 May 2017

Why is UK inflation at a four-year high? http://on.ft.com/2rkqOAK 

Why is UK inflation at a four-year high? http://on.ft.com/2rkqOAK 


Why is UK inflation at a four-year high? http://on.ft.com/2rkqOAK  posted first on cashforcarsperthblog.blogspot.com

Demand rises for inheritance tax shelter investments http://on.ft.com/2rkBkry 

Demand rises for inheritance tax shelter investments http://on.ft.com/2rkBkry 


Demand rises for inheritance tax shelter investments http://on.ft.com/2rkBkry  posted first on cashforcarsperthblog.blogspot.com

Episode 43: Building a Massive Real Estate Portfolio In Your 20s – with Dana Bull

My Guest on the Show…

Real Estate Investor Dana Bull comes on the show to talk about how she has built an impressive real estate portfolio starting in her early 20s.

Dana has what I would consider extreme work ethic. Not only is she spending time as a real estate agent, she is also working feverishly to find the best properties for her own portfolio, and is also the full-time landlord to the current rental properties her and her husband have acquired thus far.

Today she is reaping the benefits of both her hustle as an entrepreneur and also the incredible financial decisions she made at a very early age. Dana provide a ton of value during the interview and touches on…

  • The 1% rule for real estate
  • Extreme savings early on translates into massive opportunity
  • The amount mortgages you can obtain at once with today’s rules
  • The greatest risks and concerns involved with real estate investing
  • Handling the “what ifs” from tenants
  • Going with turnkey properties versus an empty rental
  • Continuing to SACRIFICE NOW to achieve the end result
  • The end goal – 21 units by age 30 and paid off by 34

Whether you are looking to start your own business, jump into real estate investing, or just want to hear how someone in their 20s is building a passive income stream to last a lifetime, you are going to find a ton of value from this episode.

Now, I have a few questions for you all…

What are some of your questions you would like answered on the show? Simply leave a comment at the bottom and let me know or you can contact me here and ask anonymously.

Are you enjoying the podcast? If you do, would you be willing to leave a review for the show here? The more reviews the podcast receives, the more people will learn about it!


The Money Peach Podcast is brought to you by my #1 online program for showing you how to budget, how much to save, how to manage your debt payoff, when to save for retirement, what to teach your kids about money, and how to build a legacy to last beyond your lifetime.

If you find yourself continuing to live paycheck-to-paycheck and wondering where all the money went at the end of the month, it’s time to finally make a positive change. Welcome to the class they forgot to teach you about money – Awesome Money Course.

Mentioned in this Episode


Dan Bull Real Estate

Awesome Money Course

Code for iTunes and Stitcher Radio Buttons

The post Episode 43: Building a Massive Real Estate Portfolio In Your 20s – with Dana Bull appeared first on Money Peach.


Episode 43: Building a Massive Real Estate Portfolio In Your 20s – with Dana Bull posted first on cashforcarsperthblog.blogspot.com

Neil Woodford buys into housebuilders and property http://on.ft.com/2pWOs2r 

Neil Woodford buys into housebuilders and property http://on.ft.com/2pWOs2r 


Neil Woodford buys into housebuilders and property http://on.ft.com/2pWOs2r  posted first on cashforcarsperthblog.blogspot.com

Wednesday, 17 May 2017

We should all vote for MPs’ pensions to be reformed http://on.ft.com/2rgHKs4 

We should all vote for MPs’ pensions to be reformed http://on.ft.com/2rgHKs4 


We should all vote for MPs’ pensions to be reformed http://on.ft.com/2rgHKs4  posted first on cashforcarsperthblog.blogspot.com

Why has bitcoin’s value soared? http://on.ft.com/2rhlDSi 

Why has bitcoin’s value soared? http://on.ft.com/2rhlDSi 


Why has bitcoin’s value soared? http://on.ft.com/2rhlDSi  posted first on cashforcarsperthblog.blogspot.com

Watch the build-up in US student debt http://on.ft.com/2pVuepy 

Watch the build-up in US student debt http://on.ft.com/2pVuepy 


Watch the build-up in US student debt http://on.ft.com/2pVuepy  posted first on cashforcarsperthblog.blogspot.com

Tax reforms deter buy-to-let landlords http://on.ft.com/2rgMi1k 

Tax reforms deter buy-to-let landlords http://on.ft.com/2rgMi1k 


Tax reforms deter buy-to-let landlords http://on.ft.com/2rgMi1k  posted first on cashforcarsperthblog.blogspot.com

US stocks sink at the open; Havens in demand http://on.ft.com/2rf9htL 

US stocks sink at the open; Havens in demand http://on.ft.com/2rf9htL 


US stocks sink at the open; Havens in demand http://on.ft.com/2rf9htL  posted first on cashforcarsperthblog.blogspot.com

Is Medical School Worth It? An Orthodontist Weighs In.

Hey everyone! Today I have a really cool interview with a M$M reader that I’d like to share with all of you. As the site has grown, I’ve met so many people that have totally different student loan situations. I’ve wanted to focus on high earners (specifically medical school grads) with a lot of student...

The post Is Medical School Worth It? An Orthodontist Weighs In. appeared first on Millennial Money Man.


Is Medical School Worth It? An Orthodontist Weighs In. posted first on cashforcarsperthblog.blogspot.com

Double awards triumph for FT Money writers http://on.ft.com/2regNFm 

Double awards triumph for FT Money writers http://on.ft.com/2regNFm 


Double awards triumph for FT Money writers http://on.ft.com/2regNFm  posted first on cashforcarsperthblog.blogspot.com

Tuesday, 16 May 2017

How to plan for a future stock market crash http://on.ft.com/2reebqZ 

How to plan for a future stock market crash http://on.ft.com/2reebqZ 


How to plan for a future stock market crash http://on.ft.com/2reebqZ  posted first on cashforcarsperthblog.blogspot.com

Wow - we are so honoured to have won big at #Headline17 thank you everyone who voted and nominated me and @JosephineCumbo Go @ftmoney team http://pic.twitter.com/9v3a2ooLWc

Wow - we are so honoured to have won big at thank you everyone who voted and nominated me and Go team ❤


Wow - we are so honoured to have won big at #Headline17 thank you everyone who voted and nominated me and @JosephineCumbo Go @ftmoney team http://pic.twitter.com/9v3a2ooLWc posted first on cashforcarsperthblog.blogspot.com

Breaking news: @JosephineCumbo @FT is Pensions Journalist of the Year! And they played ACDC (well she's a pensions rock star) #http://Headline17pic.twitter.com/t8CltejnAo

Breaking news: is Pensions Journalist of the Year! And they played ACDC 🎸 (well she's a pensions rock star)


Breaking news: @JosephineCumbo @FT is Pensions Journalist of the Year! And they played ACDC (well she's a pensions rock star) #http://Headline17pic.twitter.com/t8CltejnAo posted first on cashforcarsperthblog.blogspot.com

Cyber attack shows investors need exposure to growing tech sector http://on.ft.com/2rbDVnJ 

Cyber attack shows investors need exposure to growing tech sector http://on.ft.com/2rbDVnJ 


Cyber attack shows investors need exposure to growing tech sector http://on.ft.com/2rbDVnJ  posted first on cashforcarsperthblog.blogspot.com

5 First-Time Home Buyers Share the Good -and the Bad

If buying a home is on your to-do list, you’re not alone: Eighty-three percent of young people still believe homeownership is part of the American Dream, and 78 percent believe they can achieve it.

But while exciting, the process of purchasing a first home is fraught with potential pitfalls—some costlier than others.

Here, Alison Rogers, a licensed broker at Upstairs Realty in N.Y., weighs in on some of the highs and lows of five first-time home buyers’ experiences. From hidden home-repair nightmares to the benefits of putting down more than 20 percent, you may want to read this before you start house hunting.

The All-Star Savers

Tanner, 32, and Ashley Callais, 33, a travel site owner and interior design assistant in Austin, Texas

“We bought our first home—a three-bedroom in Austin—last March for about $300,000. We’d been longtime renters, but learning our first baby was on the way lit a fire under us to put down roots.

We each had a healthy savings account when we got married in 2012. Since then, we’ve been all-star savers. There have been periods where we’ve saved 70 percent of our low-six-figure (combined) income—thanks to avoiding debt and sticking with a strict budget. (Even after my career took off, I drove the same old Saturn from college so we could save more.) This helped us put down 30 percent on our new home.

Our monthly payment now lands at $1,400 including taxes, compared to $1,050 in rent for a much smaller place. It’s also way nicer than our old digs and in the heart of an up-and-coming neighborhood.

My one regret is not being more aggressive with bidding. Austin is a very competitive housing market; it isn’t uncommon for properties in our price range to go under contract within days. We actually lost several houses we really liked because we weren’t comfortable bidding more than asking price, which ended up lengthening our house hunt by several months.”

Expert insights

“Tanner and Ashley did a lot right—particularly putting down such a hefty down payment. Doing so lowers your mortgage payments, which means you’ll have more available income for unexpected expenses.

When it comes to bidding, I’d tell stressed-out house hunters to repeat this mantra: ‘It’s ok to lose a house; there’s always another.’ You don’t want to get so caught up in the bidding that you drive yourself to a number you regret. I suggest researching what similar houses are going for in the area, then looking at your budget and determining your top number. This gives you a built-in boundary.”

The Passive-Income Seeker

Jake Rheude, 25, director of business development at an ecommerce fulfillment company in Knoxville, Tenn.

“I bought a $170,000 three-bedroom townhouse in Knoxville last year after socking away enough money over nine years—from gifts, income from after-school jobs in high school and a $4,000 loan from my dad—to cover a 10-percent down payment.

Because I didn’t put down 20 percent, I’m on the hook for PMI (private mortgage insurance), which is $49 a month for two years. Still, I consider it a great investment. My monthly payment is $950 including taxes and insurance, which is probably $400 less than what I’d pay to rent a comparable property.

I’m particularly attracted to the home’s rental potential. I’m a single guy and enjoy living in Knoxville, but don’t know what the future holds. If I move one day, I’m confident I’ll be able to rent it out to college students who live in the area.

It feels good to have a future passive income stream in the pipeline. Adding a rental property to my portfolio will be a huge asset in the long run.”

Expert insights

“Putting down 20 percent is the rule of thumb because it gives you a cushion should you have to sell into a market that’s since declined. It also lowers your monthly payment and means you don’t need additional insurance. So putting down less than that makes maintaining a solid emergency fund all the more important, should disaster strike. You’ll also want enough wiggle room in your budget to afford all related housing costs (think: taxes, insurance, maintenance, HOA fees and the like).

As for renting it out, my biggest advice as a longtime landlord is to remember that you’re likely going to have vacancies in between tenants—even in active renters markets. Build this into your budget so you aren’t blindsided by dry periods. Also, depending on how far away you live, it might make sense to hire a property manager to help with maintenance and repairs.”

The Unsuspecting Fixer-Uppers

Yenni, 29, and Jonathan Desroches, 29, pet care company owner and a senior hardware engineer in Worcester, Mass.

“Jonathan and I were thrilled when we put down 10 percent and bought our three-family home in August 2013 for $295,000. We live in one unit and rent the other two for $2,400 per month, which covers our entire mortgage, taxes and insurance.

The house is now valued at $335,000—a nice uptick in just a few years—but there’s a huge downside: Post-sale, we found over $125,000 in necessary repairs, from mold to structural issues to water damage and more—all of which our inspector should have noted. We’ve leaned on our savings and a mix of family gifts and loans to cover $90,000 so far.

We also discovered during the sale that our seller’s agent happened to be our buyer’s agent’s boss and fiancé. (Hello, conflict of interest!) Plus our mortgage broker forgot to submit our rate-lock forms, which bumped our interest rate up from 3.25 percent to 4.25 percent.

In a nutshell, it’s been a nightmare. If we could go back in time, we’d do way more research and definitely hire a more qualified inspector.”

First time home buyer mistakesExpert insights

“As Yenni well knows, it’s really important to find a trusted inspector. I recommend going with someone who belongs to the International Association of Certified Home Inspectors because they’ve taken a certification exam and adhere to a standardized code of ethics. Her situation also drives home the potential pitfalls of putting down less than 10 percent; without a fully loaded emergency fund, big-ticket home repairs can be a huge financial burden.

Also, the relationship between the buyer’s and seller’s agent should have been disclosed to her in writing, and is in clear violation of Massachusetts’s disclosure laws regarding dual agency. At the very least, it sounds like she wasn’t treated with proper care, but I’ll leave it to a Massachusetts attorney to say whether she has any financial recourse.”

This post originally appeared on Grow

Related:

This May Be the Smartest Thing You Do With Your Wedding Gift Cash

How I Survived Unemployment Without Touching My Emergency Fund

What I Gained From Giving Up 50 Percent of My Income

The post 5 First-Time Home Buyers Share the Good -and the Bad appeared first on Money Peach.


5 First-Time Home Buyers Share the Good -and the Bad posted first on cashforcarsperthblog.blogspot.com

Monday, 15 May 2017

Payment app Revolut to offer free money transfers abroad http://on.ft.com/2raLISR 

Payment app Revolut to offer free money transfers abroad http://on.ft.com/2raLISR 


Payment app Revolut to offer free money transfers abroad http://on.ft.com/2raLISR  posted first on cashforcarsperthblog.blogspot.com

HMRC victory over Swiss bank account challenge http://on.ft.com/2raKyqF 

HMRC victory over Swiss bank account challenge http://on.ft.com/2raKyqF 


HMRC victory over Swiss bank account challenge http://on.ft.com/2raKyqF  posted first on cashforcarsperthblog.blogspot.com

Should I wait to sell our family home until after the election? http://on.ft.com/2pPrVob 

Should I wait to sell our family home until after the election? http://on.ft.com/2pPrVob 


Should I wait to sell our family home until after the election? http://on.ft.com/2pPrVob  posted first on cashforcarsperthblog.blogspot.com

Best Free Excel Budget Templates and Spreadsheets

One of the most interesting things I’ve noticed since I started running M$M was the large amount of readers that actually use excel spreadsheets to create their budgets. There are a bunch of budgeting apps that I’ll discuss below (both paid and free), but plenty of millennials still opt for the “old school” approach when it...

The post Best Free Excel Budget Templates and Spreadsheets appeared first on Millennial Money Man.


Best Free Excel Budget Templates and Spreadsheets posted first on cashforcarsperthblog.blogspot.com

Friday, 12 May 2017

Wedding guests spend an average £432 http://on.ft.com/2r1Ql1x 

Wedding guests spend an average £432 http://on.ft.com/2r1Ql1x 


Wedding guests spend an average £432 http://on.ft.com/2r1Ql1x  posted first on cashforcarsperthblog.blogspot.com

Investors Chronicle: Marks and Spencer, Punch Taverns, Global Ports Holding http://on.ft.com/2r1c6OU 

Investors Chronicle: Marks and Spencer, Punch Taverns, Global Ports Holding http://on.ft.com/2r1c6OU 


Investors Chronicle: Marks and Spencer, Punch Taverns, Global Ports Holding http://on.ft.com/2r1c6OU  posted first on cashforcarsperthblog.blogspot.com

Parker caps Anglo’s sell-off http://on.ft.com/2r19wst 

Parker caps Anglo’s sell-off http://on.ft.com/2r19wst 


Parker caps Anglo’s sell-off http://on.ft.com/2r19wst  posted first on cashforcarsperthblog.blogspot.com

The Rise of the Location Independent Millennial

Hey everyone, today I have a great guest post by Ricard over at EscapingtoFreedom.com! Ricard was a blog coaching student of mine a while back, and he’s doing a killer job of growing his site and finding ways to make money online. He’s also into personal finance like all of us! He’s the perfect example of...

The post The Rise of the Location Independent Millennial appeared first on Millennial Money Man.


The Rise of the Location Independent Millennial posted first on cashforcarsperthblog.blogspot.com

Investors offered a gamble on sports betting fund http://on.ft.com/2r0Qsud 

Investors offered a gamble on sports betting fund http://on.ft.com/2r0Qsud 


Investors offered a gamble on sports betting fund http://on.ft.com/2r0Qsud  posted first on cashforcarsperthblog.blogspot.com

Thursday, 11 May 2017

Help! My house has been hijacked http://on.ft.com/2pEzTAh 

Help! My house has been hijacked http://on.ft.com/2pEzTAh 


Help! My house has been hijacked http://on.ft.com/2pEzTAh  posted first on cashforcarsperthblog.blogspot.com

There should be more bitching about energy switching http://on.ft.com/2r00g7I 

There should be more bitching about energy switching http://on.ft.com/2r00g7I 


There should be more bitching about energy switching http://on.ft.com/2r00g7I  posted first on cashforcarsperthblog.blogspot.com

FTSE 100 groups offer staff cash instead of pension contributions http://on.ft.com/2q7wxIV 

FTSE 100 groups offer staff cash instead of pension contributions http://on.ft.com/2q7wxIV 


FTSE 100 groups offer staff cash instead of pension contributions http://on.ft.com/2q7wxIV  posted first on cashforcarsperthblog.blogspot.com

FTSE 100 groups offer staff cash instead of pension contributions http://on.ft.com/2q7wxIV 

FTSE 100 groups offer staff cash instead of pension contributions http://on.ft.com/2q7wxIV 


FTSE 100 groups offer staff cash instead of pension contributions http://on.ft.com/2q7wxIV  posted first on cashforcarsperthblog.blogspot.com

How much do you really need to be rich? Comment on @merrynsw latest column http://on.ft.com/2q7S42A 

How much do you really need to be rich? Comment on latest column http://on.ft.com/2q7S42A 


How much do you really need to be rich? Comment on @merrynsw latest column http://on.ft.com/2q7S42A  posted first on cashforcarsperthblog.blogspot.com

Episode 042: Morning Routines, Extreme Focus, and Non-Stop Learning with George Laughton

laughton team

My Guest on the Show…

George Laughton and his wife Jennifer started the Laughton Team in 2007 and have steadily climbed to become one of the top real estate agents in the entire United States. In fact, George is not only a top 1% real estate agent across the country, but he was also the youngest person to ever be inducted into the RE/MAX Hall of Fame.

With that said, I didn’t want to bring George on the show to talk about his success, but rather to discuss WHY he has been so successful. What separates him from the rest of the people trying to do the same thing in his field? What are some of his daily routines? What books does he read, where does he go to learn, who does he look to for mentoring, and how does he continue to improve every single day?

During the interview, I asked George, “A lot of this seems so basic…why doesn’t everyone do these same things everyday?

Interestingly enough, George Laughton is asking the same question.

I asked George what he had on his phone’s lock screen…

laughton team

BONUS: I of course put George on the spot and asked him to provide a PDF cheat sheet of his own morning routine to help you get started with yours. This routine was put together after following some of the most successful entrepreneurs on the planet and taking bits of pieces and forming his own. Since this interview, I have implemented the same morning routine in my own life.

PDF DOWNLOAD

George’s Morning Routine Cheat Sheet

 

Now, I have a few questions for you all…

What are some of your questions you would like answered on the show? Simply leave a comment at the bottom and let me know or you can contact me here and ask anonymously.

Are you enjoying the podcast? If you do, would you be willing to leave a review for the show here? The more reviews the podcast receives, the more people will learn about it!


 

The Money Peach Podcast is brought to you by my #1 online program for showing you how to budget, how much to save, how to manage your debt payoff, when to save for retirement, what to teach your kids about money, and how to build a legacy to last beyond your lifetime.

If you find yourself continuing to live paycheck-to-paycheck and wondering where all the money went at the end of the month, it’s time to finally make a positive change. Welcome to the class they forgot to teach you about money – Awesome Money Course.

 

Mentioned in this Episode


Freedom, OK

Four Disciplines of Execution by Chris McChesney, Sean Covey, & Jim Huling

Rocket Fuel by Gino Wickman & Mark C. Winters

Tools of Titans by Tim Ferriss

Bold – How to Go Big, Create Wealth and Impact the World by Peter H. Diamandis & Steven Kotler

Start with Why – How Great Leaders Inspire Everyone to Take Action by Simon Sinek

Leaders Eat Last – Why Some Teams Pull Together and Others Don’t by Simon Sinek

Awaken the Giant Within (Audiobook) by Tony Robbins

The Laughton Team

Contact George Directly

Awesome Money Course

Show Notes


Introduction of George [3:15]

Growing up George [4:20]

First Glimpse of Real Estate [6:00]

16 Credits Away from Graduating College and.. [9:45]

George’s Take on Non-Stop Learning [11:00]

Bartending – A Way to Meet Girls [12:00]

Launching the Laughton Team [13:00]

Traditional Real Estate Dies [14:50]

Why are You So Successful in Your Business? [24:50]

Morning Routine [29:00]

Community Involvement [35:00]

On Relationships [38:00]

On Goals [43:30]

The post Episode 042: Morning Routines, Extreme Focus, and Non-Stop Learning with George Laughton appeared first on Money Peach.


Episode 042: Morning Routines, Extreme Focus, and Non-Stop Learning with George Laughton posted first on cashforcarsperthblog.blogspot.com

Wednesday, 10 May 2017

HMRC to probe work expenses after tax refunds soar http://on.ft.com/2q58ev3 

HMRC to probe work expenses after tax refunds soar http://on.ft.com/2q58ev3 


HMRC to probe work expenses after tax refunds soar http://on.ft.com/2q58ev3  posted first on cashforcarsperthblog.blogspot.com

How much do you need to be rich? It’s a big election issue http://on.ft.com/2r4fqpU 

How much do you need to be rich? It’s a big election issue http://on.ft.com/2r4fqpU 


How much do you need to be rich? It’s a big election issue http://on.ft.com/2r4fqpU  posted first on cashforcarsperthblog.blogspot.com

Aviva chief executive hits out at personal insurance market http://on.ft.com/2q3gpb6 

Aviva chief executive hits out at personal insurance market http://on.ft.com/2q3gpb6 


Aviva chief executive hits out at personal insurance market http://on.ft.com/2q3gpb6  posted first on cashforcarsperthblog.blogspot.com

Should investors worry that stock market ‘fear gauge’ is so low? http://on.ft.com/2r1fAhy 

Should investors worry that stock market ‘fear gauge’ is so low? http://on.ft.com/2r1fAhy 


Should investors worry that stock market ‘fear gauge’ is so low? http://on.ft.com/2r1fAhy  posted first on cashforcarsperthblog.blogspot.com

How I Built a $100,000 Online Income in Just Two Years

Next month I’ll be coming up on my second anniversary of being self-employed, and I have to admit that it’s pretty surreal to think about! In June of 2015, I sat down in the office of the band hall (I used to be a band director), and told my boss that I was going to...

The post How I Built a $100,000 Online Income in Just Two Years appeared first on Millennial Money Man.


How I Built a $100,000 Online Income in Just Two Years posted first on cashforcarsperthblog.blogspot.com

Tuesday, 9 May 2017

Why it won’t be ‘game over’ for tech investors under Trump http://on.ft.com/2q0LsEs 

Why it won’t be ‘game over’ for tech investors under Trump http://on.ft.com/2q0LsEs 


Why it won’t be ‘game over’ for tech investors under Trump http://on.ft.com/2q0LsEs  posted first on cashforcarsperthblog.blogspot.com

How can I minimise tax on my pension? http://on.ft.com/2qZVDI7 

How can I minimise tax on my pension? http://on.ft.com/2qZVDI7 


How can I minimise tax on my pension? http://on.ft.com/2qZVDI7  posted first on cashforcarsperthblog.blogspot.com

6 Ways to Invest $100

You have $100 and you don’t want to put it in the bank or spend it on the latest craze. What should you do instead? Have you considered investing it? Investing can be an easy way to build your net worth and accomplish your financial goals like retiring on time or saving for a mortgage down payment. If you need help with how to invest your first $100, here are a few ideas.

#1: Invest in a Large Cap Index Fund

If you have no experience with investing, the process can feel intimidating. As a general rule of thumb, only invest in funds or stocks you understand. Don’t buy an investment just because Jim Cramer is shouting at the top of his lungs (today) to “Buy X stock.” Tomorrow, he might be telling you to sell the exact same stock before you lose everything.

Instead, look into index mutual funds. Index funds invest hold positions in hundreds or thousands of companies and try to mimic the performance of a broad market index such as the S&P 500. It’s a cheap way to own a small piece of every major company and minimizes your risk exposure.

Investing in a large cap index fund is a relatively low-risk investment because it invests in widely recognizable companies like Apple, Microsoft, Exxon Mobil, etc. These are companies that produce products you probably use on a daily basis.

Index funds are another great investment option because they have really low fund expenses that eat into your earning potential. The average expense ratio for index funds is 0.11% and 0.70% for actively managed mutual funds. For every $100 you invest in an index fund with a 0.11% expense ratio, 11 cents pays fund expenses instead of being invested.

There are several brokerages that offer index funds with minimum initial investments of $100 or less. You might consider Charles Schwab where the Schwab S&P 500 Index Fund (SWPPX) and Schwab Total Stock Market Index (SWTSX) only require a $1 investment to get started!

#2: Invest in an Index ETF

Exchange Traded Funds (ETFs) are essentially mutual funds because they hold positions in several companies but can be bought or sold anytime during trading hours like an individual stock.

ETFs are a good alternative if your brokerage only offers index mutual funds with minimum initial investments of $1,000 or higher. Plus, expenses are usually lower with ETFs than a mutual fund as well.

One downside of ETFs is that you have to buy whole shares. If one ETF share costs $55 and you only have $100 to invest, you will need to find an additional $10 to buy the second share, find a cheaper fund, or only buy one share and have $45 of cash remaining to invest later.

invest $100#3: Invest in a Target Date Mutual Fund

If you want an all-in-one fund that automatically invests in assets that match your age and risk tolerance, you might consider a target date retirement fund. If you plan to retire in or near the year 2055, you would invest in your brokerage’s 2055 Target Date Retirement Fund.

This is a good option to begin investing in your company 401k or a tax-free Roth IRA account. Target date funds gradually shift from an aggressive portfolio to a conservative portfolio as you approach the scheduled retirement date.

Target date funds due tend to have a higher expense ratio than index funds since they are actively managed by a fund manager, but, they are still a great way to start investing.

Related: What is a ROTH IRA?

#4: Invest in a Robo-Advisor Managed Portfolio

If you don’t object to the concept of a computer managing your money (although I think you would be surprised at just how common automated investing has become), a “robo-advisor” platform such as Betterment allows to invest your first $100 in a portfolio of stock and bond ETFs.

To get started, you simply answer a short questionnaire to determine your investment goals and time horizon. You can invest in a portfolio that is 100% stocks, 0% stocks, or any combination of stocks and bonds.

While “robo-advisors” are still a relatively new concept, many large brokerages have introduced their own managed portfolio products. These portfolios can be a cheaper alternative to target date funds (suggestion #3) and still handle all the day-to-day administrative tasks that can make invest a chore.

#5: Use a Micro-Investing App

Another option to invest small sums of money on a consistent basis is with a micro-investing app like Acorns. You might be familiar with micro-saving apps like Digit or Simple that withdraw a few dollars each month from your bank account after analyzing your spending habits.

Instead of placing the money into a separate savings account, Acorns places your money into a small investing account instead. This app won’t replace the need to invest in your 401k or Roth IRA, but, it’s a good way to save for small financial goals.

Related: Even a Loser Can Retire a Millionaire

#6: Buy Individual Stock

Using your first $100 to invest might be your last investment option to consider. While individual company stocks have higher earning potentials than most mutual funds, they are also more volatile.

If you find the next Microsoft, Amazon, Apple and your $100 turns into $1,000 seemingly overnight, well done. For most stocks, you will experience many ups and downs. Your initial investment could drop significantly if they post bad quarterly results and you could lose it all if the company goes bankrupt.

While mutual funds and ETFs also have bad years, they can rely on the good performance of other companies held to offset a bad earnings report from another holding.

If you do decide to buy stocks, you might consider a blue chip stock that has a stable history and has regular dividend payouts. These stocks are often more costly than smaller companies or penny stocks, but you are more likely to earn a long-term profit due to less volatility.

How Will You Invest Your First $100?

There are many different ways to invest your first $100. No matter what brokerage you use or whether you invest in a stock, bond, mutual fund, or ETF, the important thing is that you invest in something.

The post 6 Ways to Invest $100 appeared first on Money Peach.


6 Ways to Invest $100 posted first on cashforcarsperthblog.blogspot.com

Monday, 8 May 2017

How Living in a Camper To Pay Off Our Debt Changed Our Lives

Hey everyone! Today I have a very special guest post for you. One of the first guest posters I ever had on the site almost two years ago is back again – and he’s sharing a follow up on his story of living in a camper to pay off debt. This is a must read. Enjoy! ~M$M...

The post How Living in a Camper To Pay Off Our Debt Changed Our Lives appeared first on Millennial Money Man.


How Living in a Camper To Pay Off Our Debt Changed Our Lives posted first on cashforcarsperthblog.blogspot.com