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HOME BUYER PRIMER (Part 1 of 3)
2007-10-03 00:07:00
So, you’re tired of paying rent, fighting for a parking space, and putting up with that noisy apartment upstairs. You have a good job, have some savings, and have good credit. You’re think you’re ready to buy a home, but you don’t know where to start; you don’t know Fanny Mae from Freddie Mac, and all the talk of sub-prime rates, points, escrow funds, and realtor fees leaves your head spinning. Take a seat, and an aspirin, and remember that buying a first home does not have to be complicated or insanely stressful. In fact, this achievement of the American dream should be a joy in a person’s life, and it can be, but only when done right. Here is Rich Money Million’s easy guide to the process.Real Estate AgentWithout the right guidance, buying your first home can turn into a nightmare. Because of this, I strongly recommend that you get a real estate agent right at the beginning of the process. Now, not all agents are created equal; those who are Realtors® are profession...
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PAY OFF BILLS & GET OUT OF DEBT
2007-10-01 06:54:00
Nowadays, with mortgages, student loans, and credits cards, most everyone has some sort of debt. If your credit cards are all maxed out, if your bank account is overdrawn, if your mailbox is only filled with bills, and if your paycheck is gone as soon as you get paid, this is for you. Here are a few tips on how to organize, strategize, and attack your debt.Spend Less Than You Make This is the most important thing, and without it nothing else will work. If you can't pay for it today, then you can't afford it. Force yourself into this habit by carrying only cash or a debit card. Know Bad Debt And Good Debt Good Debt has an interest rate well under 10% -- preferably with some tax advantages to boot. In the case of Good Debt, the thing you bought with borrowed funds will appreciate in value. Home mortgages and student loans are examples of Good Debt. Automobile loans are on the borderline: They often satisfy the low-rate piece, but automobiles almost never appreciate in value. Bad Deb...
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WHEN YOU WIN THE LOTTERY
2007-09-28 17:27:00
What To DoSafeguard your ticket by printing your name, address and phone number on the back of the lottery ticket immediately, then photocopying the ticket, front and back, and then sealing it in a zip-lock bag.At first, tell absolutely no one that you’ve won. Not friends, not relatives, not co-workers.Hire a good lawyer, accountant, and financial advisor to help you figure out what your options are and to map out a financial strategy. Make sure your financial adviser finds out what your payment options are, and discuss those options in depth. You might be able to choose between getting a lump sum, receiving annual checks for a number of years or getting stock options. If you can collect the jackpot in a lump sum, do so.If you want to maximize the interest income, claim your prize as soon as possible. Put the money in government treasury bills then start your planning. Keep in mind that a jackpot isn't so big after the IRS takes a bite out of the winnings. Let's say you win a $1...
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FREE MONEY
2007-09-26 18:16:00
I was walking downtown last night, and I found a five dollar bill on the ground. I picked it up, and looked around to see if anyone was missing it. After a minute or two I gave up and pocketed it. Missed Opportunity I want you to think about this experience and the potential for finding free money everyday. Everyone has been in a parking lot or on a sidewalk and, without actively looking for it, seen a penny just lying there. It obviously does not belong to anyone anymore. You could pick it up, or leave it there. For many of us, we ignore it. If it’s not ‘paper’ money, we dismiss it as worthless. But, this is when you have to remember that money is money! And this is when you have to remember that finding that penny and picking it up will bring you more than a day of good luck! A Little Savings Adds Up I keep an empty water cooler bottle in my closet, and every evening I empty the loose change out of my pockets into the bottle. On an average day, I might have twenty or thirty...
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WELCOME TO WAL-MART, SONNY!
2007-09-25 23:51:00
We’ve all heard of Supplemental Security Income (SSI), from the Social Security Administration. For those who haven’t, it’s basically the government’s scheme whereby they take a percentage of your salary now, and then give it back when you are old and retired. But, we’ve all also heard the rumors that the money will be gone in the next fifty years or so. Personally, I don’t want make ends meet by working as a Wal-Mart greeter when I’m seventy-five years old. I plan to avoid this by my own ‘SSI’ plan.Save whenever possible It’s like money in the bank, literally! If you don’t have a savings account, get one. You can open a free savings account with most online banks, in a matter of minutes. Interest rates, while not anything to get excited about, can vary dramatically from bank to bank – so shop around. Then, commit to saving a percentage of your income every month; I save 7%, and I recommend a minimum of 5%. At the very least, saving regularly and seeing your ...
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AMERICAN FUNDS EuroPacific Growth
2007-09-25 06:52:00
The American EuroPacific Growth A (AEPGX) and Growth R4 (REREX) funds invest mainly in Asian (China, India, Japan, etc.) and European (Switzerland, Germany, etc.) companies. I have several thousands of dollars in these fund alone, and I've been getting a very high rate of return for the last few years. I strongly recommend them to you.Why do I have these funds and why do I think it will continue to do well in the future? Simply put, the Asian manufacturing market is extremely strong, profitable, and growing constantly. China for example, manufactures and sells goods like you would not belive. To illustrate this point, I'll bet that you can pick up any object in your house, and 80% of the time you'll find that little stamp or sticker underneath that reads 'Made in China'.It's true that there have been a few 'hiccups' in the last year or so; however, I've found that the market tends to correct itself and any slight short-term losses are negated by big long-term gains.RICHMONE...
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WHAT IS RICH MONEY MILLION?
2007-09-19 09:02:00
Quite simply, it's a blog about making more money, about creating wealth and keeping it.Yes, I know, there are many other sources of information on the topic out there. And who's to say whether one is better than the other? There is an anecdote that a chimpanzee throwing darts at the stock pages of the newspaper would do as well or better than some of the very highly-paid, highly-educated, so-called financial gurus. Well, I'm neither a chimpanzee nor a financial guru, but I offer this blog as my "every-man" effort at making you and I more money. In it's entries I'm going to describe my money-making efforts and the results, as well as others' opinions and insights on making more money. I invite you to read and maybe make a buck or two along with me.RICHMONEYMILLION.COM RICHMONEYMILLION.COM RICHMONEYMILLION.COM
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