One of the best feelings and positions in life is to be financially free. Financial freedom found from building sizable savings and being debt free can happen at any age with the proper planning.One of the biggest questions you’ll face on your path to financial freedom is whether or not you should pay off your home mortgage. There is no black and white answer for everyone as the answer depends on a variety of variables, as with most financially related questions.
5 Reasons Why I Invest in Real Estate
When it comes to investing, there are a lot of options out there to choose from. There are stocks, bonds, FOREX, cryptocurrency, precious metals, mutual funds, REITs, etc. The list goes on and on. There are a million ideas, products, assets, and companies out there for investors like you, looking to invest in the next big thing. Don’t get me wrong, I spend a considerable amount of time searching for these great investments too, but a huge portion of my investment portfolio is invested in something tried and true: real estate.
But why do I choose real estate above gold, above stocks or cryptocurrencies? What makes it such a good investment?
Do You Have Your Money in the Wrong Account?
Editor’s Note: The APYs for high-yield savings accounts listed in this article are up-to-date as of the time of publication. They may fluctuate (up or down) as the Fed rate changes.
The economic fallout from the coronavirus has left many people feeling uncertain about their future, and as a result, many are prioritizing saving for an emergency fund (including myself). When you need a place to keep your money that you’ll use for bills and buy groceries, a checking account is an obvious choice. But when you want to put money aside for future needs (i.e. emergency fund, vacation fund, etc.), the best option is a high-yield savings account.
Start Your Own Blog and Make Money Online
So, you want to start a blog? Great idea! Starting a blog is the easiest way to share your ideas and expertise with the world. Blogging is also a great way to earn extra income online. Some people turn blogging into a hearty side gig or even a full-blown career — like this mom, who makes $6,000 a month from her blog.
Building your own blog doesn’t have to be complicated or expensive. I’m going to walk you through a detailed guide for starting a blog with bluehost, for as low as $3.95 a month. The best part is that it only takes about 20 minutes to get started. You’ll also receive a free blog domain name when you register.
I Purchased My Second Rental Property
I recently wrote a post about purchasing my first investment property. After that first purchase I was hooked on real estate investing. Seeing those rent checks roll in every month had me eager for more. I couldn’t wait to purchase my next my rental property so I could collect more checks. As a result, a month after closing on my first property, I already had my second property under contract.
Book Review: Rich Dad, Poor Dad
Rich Dad, Poor Dad
Personal Finance
TechPress, Inc.
1998
Paperback
183
In Rich Dad Poor Dad, the #1 Personal Finance book of all time, Robert Kiyosaki shares the story of his two dads: his real father, whom he calls his ‘poor dad,’ and the father of his best friend, the man who became his mentor and his ‘rich dad’. One man was well educated and an employee all his life, the other’s education was “street smarts” over traditional classroom education and he took the path of entrepreneurship…a road that led him to become one of the wealthiest men in Hawaii. Robert’s poor dad struggled financially all his life, and these two dads — with very different points of view of money, investing, and employment — shaped Robert’s thinking about money.
This is a test
https://www.amazon.com/gp/product/1612680194/ref=as_li_tl?ie=UTF8&tag=plendidnvesto-20&camp=1789&creative=9325&linkCode=as2&creativeASIN=1612680194&linkId=7e0e991117c8a3430f00259502d61488
Part II – Tales of a newbie real estate investor: Purchasing my first multi-family rental property
My first real estate investment purchase was an 8-unit multi-family complex I purchased using equity from my primary residence by way of a cash-out refinance. After my first purchase, I was super excited and eager to get more. But before acquiring additional properties, I had to budget for maintenance & improvement projects at the multi-family. I would be remiss if I didn’t go over some road blocks I ran into and challenges I had along the way.
Tales of a newbie real estate investor: Purchasing my first multi-family rental property
I’ve always been interested in real estate. So, investing in single family rental properties has a been a goal of mine for quite some time. I’m not sure why it’s taken me so long to take the plunge. I’m sure fear was a large factor in not making a purchase. Even though I’ve listened to countless podcasts on real estate investing, read numerous books and attended meetings of local real estate investing groups, I still had this feeling that I didn’t know enough yet. I felt like I needed to learn more about it to avoid making any mistakes. Many would call this analysis paralysis which is over-analyzing a situation to the point that action is never taken. After absorbing all this information about the subject for years it was time to get serious about finding a deal. I had listened to enough of the success stories on the BiggerPockets podcast and I started to wonder why not me? Why wasn’t I a part of this real estate investing frenzy that so many people brag about. I felt like I had a good idea on how to proceed and what to expect when purchasing a property so it’s time for me to go out and build my empire.
5 Personal Finance Mistakes that can make Homeownership a Nightmare
Avoiding these blunders will make you a much happier homeowner.
Buying a home is often one of the biggest financial decisions Americans will make during their lifetime. Homeownership is often viewed as a sign of success in America, and for many people there’s nothing quite like the feeling of knowing that you’re in control of your own domain.
But buying a home isn’t something that consumers should take lightly. It’s a major responsibility that can have big repercussions if you aren’t careful. Here are five of the most common personal finance mistakes that current and prospective homeowners should be careful to avoid.
Emergency Funds: How to start yours today
Everyone needs to save an emergency fund for those unexpected expenses that always seem to come our way. Without an emergency fund, any unexpected expense becomes an emergency that has to go on a credit card. It could be something as small as a car repair or a lost phone. A financial buffer can keep you afloat in a time of need and let you recover without going into debt.
One of the first steps in climbing out of debt is to give yourself a way to not go further into debt. To build an emergency fund, consider these questions.
How big should my emergency fund be?
The exact answer to this depends on your financial circumstances and how much insurance you have, but a good rule of thumb is to have enough to cover three to six months’ worth of living expenses. This can give you enough time, for instance, to find a new job or supplement your unemployment benefits until you do.
