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The Benefits of Owning a Condo

by Flexo
Condo

A few years ago, I declared I would (probably) never buy a condominium. I still believe this to be true. All my adult life, I’ve lived in rented apartments. Some have been nice, some have been not so nice. My least favorite living arrangement was a railroad apartment in Jersey City, New Jersey. It was ... Continue reading this article…

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Why Sellers Overestimate the Value of Their Houses

by Flexo

When calculating my net worth, I tend to take a conservative approach. Where certain balances are not exact, like the value of my car, I tend to assume the value is lower than what it might be. This way, there are no dangerous surprises if I needed to convert an asset like that into cash ... Continue reading this article…

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Podcast 115: LaFoy Thomas, Generational Wealth

by Flexo

Today on the Consumerism Commentary Podcast, Tom Dziubek speaks with LaFoy Thomas, attorney, investor and author of the book Generational Wealth: Business & Investing Guide to Building an Empire. LaFoy discusses the concept of financial sophistication and many other topics such as economic indicators, REITs (real estate investment trusts) and how to understand financial statements. ... Continue reading this article…

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The True Cost of Rent to Own

by Flexo
Refrigerator

The debate pitting the concept of buying versus the concept of renting will never end. With a primary home, there may be a plethora of financial calculators and endless real estate analysts to help you make the decision. There are financial considerations as well as non-financial considerations, and pundits on either side who swear their ... Continue reading this article…

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Reverse Mortgages

by Flexo
Old house

Homeowners over the age of 62 have a unique option available for accessing cash. Reverse mortgages can help seniors access home equity without having to make monthly payments to repay a loan. When a qualifying homeowner has paid off a mortgage in full, or is very close to paying off a mortgage, a reverse mortgage ... Continue reading this article…

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J.P. Morgan Misled Investors, Will Pay $153.6 Million

by Flexo

As the market was collapsing, J.P. Morgan Securities continue to convince clients to invest in a complicated investment made up of credit-default swaps, even though the underlying investments were selected by a hedge fund, Magnetar Capital LLC, that would benefit from seeing the investment fail. Allegedly, J.P. Morgan was knowingly selling an investment designed to ... Continue reading this article…

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Don’t Live Within Your Means

by Flexo

For as long as I’ve been reading about smart money management, “live within your means” has been the underlying mantra that, when uttered repeatedly and internalized, will result in a much more fulfilling life overall. By living below your means, you are sure to come out the end of each month with a net worth ... Continue reading this article…

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Family Earning $225k Annually, No Emergency Fund

by Flexo

Money Magazine featured a story about Rick and Amy Mendez, a couple in their early forties with two children, earning an income of $225,000. They have a healthy retirement plan balance, and they needed to borrow from their 401(k) to pay for an emergency. Here is a family of four earning $225,000 a year, with ... Continue reading this article…

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