LIVING OFF DIVIDENDS & PASSIVE INCOME

Suzie Orman is a famous financial planner who appears regularly on TV and is a prolific writer. I’m not a big fan, mostly because her ideas are too simplistic for me although they must appeal to a lot of people who have no knowledge of financial information.

But now and then she has a good nugget of information. Check out this short clip about paying off your home mortgage as soon as possible.

The only counter argument I can think of is inflation.

If you bought your house in 1980 for $50,000 and never paid off the mortgage (that wouldn’t be possible unless you refinanced the home loan along the way), the value of $50,000 today is a lot lower than it used to be 30 years ago.

But on the flip side, the mortgage interest tax deduction on $50,000 is rather small too. So maybe you should send in that extra $100 every month!

One resource I strongly recommend is How to Save Thousands of Dollars on Your Home Mortgage. You can buy the book used on Amazon for under $2.00 – possibly the best 2 bucks you’ll ever spend!

• Food And Drug Chief Gets Death China sentenced its ex-food and drug chief to death for accepting bribes.Quite a harsh punishment for accepting $800,000 in bribes. Pity the US doesn't have laws like that. It would do wonders for the integrity of system. Here we've become conditioned to accept that politicians will lie and accept bribes......
• Buying Our National Debt I got this email from Randy Johnson, author of the best book I've ever read on the topic of real estate mortages. If you own a home or are thinking of ever buying a home, you need to get How to Save Thousands of Dollars on Your Home Mortgage. It'll......
• How To Avoid Foreclosure You must have read the recent post about the New York Times economics reporter who is facing foreclosure himself. Edmund Andrews covered the US economy and Alan Greenspan for over six years, but despite his financial accumen still got suckered into a loan he couldn't really afford. He hasn't made......

• Whom Shall We Trust to Teach Our Children about Personal Finance? The philosopher Plato believed that two of the most important questions that a society needed to address were: (1) what will society teach its children and (2) who will do the teaching.  Plato had some rather radical ideas about the answers to those questions, including yanking kids out of the home......
• Personal Finance Resource Links 02-08-09 The first month closes in 2009.  I can't believe we're in February already!  Time slips by quickly! Let's get right to some links! The Money Life Network teamed to write Jumpstart Your Economy: Tips For Starting The New Year Off Right.  Go take a gander at the seven wonderful......
• Extracting Personal Finance Advice from the Social Media Wasteland I have been a user of Facebook and Twitter for most of the past year. My primary motivation was to join other bloggers who saw social media as a convenient way to spread their brand, attract more readers, and make more money. I'm not feeling it. As way to distribute......

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