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The Rich Can Teach Us A Thing Or Two

by Flexo

Here are five lessons we strugglers can “learn” from millionaires, according to Liz Pulliam Weston at MSN Money. How are the rich different than the “rest of us?” Let me enumerate the ways: 1. They give away more. Households with more than $500,000 of investible assets give away 6 percent of their incomes. I’m not sure ... Continue reading this article…

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Fly In The Face

by Flexo

The New York Times proves that in many expensive areas of the country (California, northeast U.S., etc.), it can be much better (financially speaking) to rent rather than to buy the same dwelling. After five years in which rents have barely budged while house prices in New York, Washington, Los Angeles and elsewhere have doubled, ... Continue reading this article…

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Weblogs, Inc.’s Blogger Contract

by Flexo

Yesterday I mentioned that Weblogs, Inc. is rumored to be preparing a personal finance blog. Here’s a look at the contract that the corporation uses when hiring bloggers (as independent contractors). Here are some highlights: * Bloggers are paid $4 per post, with a maximum of $500 per month. * All published writing is property ... Continue reading this article…

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75 Dollar Surprise

by Flexo

As I checked my bank account balance this morning, I noticed something I wasn’t expecting: a tax refund from the New Jersey 2004 FAIR Tenant Rebate Program is scheduled to be deposited on August 1. Even though I don’t directly pay property taxes, I pay them indirectly through a portion of my rent. Here are ... Continue reading this article…

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Property Taxes

by Flexo

I am not a homeowner right now for many reasons. Here’s another reason to add to the list: sky-high property tax. Yes, I pay some property tax now, hidden within my rent bill. Landlords pass the cost of taxes onto tenants. Because of the high cost of buying and owning a home, finding money for ... Continue reading this article…

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Friday Reading

by Flexo

Here’s what I’m reading today, updated throughout the day as I feel like it. Jim Jubak sees a revolt pertaining to property taxes and the Alternative Minimum Tax. Prediction: Oil will either spike to $100 a barrel or it will drop. There is a third possibility that the price will do neither. In conclusion, no ... Continue reading this article…

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Eminent Domain Rules Officially Changed

by Flexo

Let’s say you own a home, like many people in this country do. Let’s go further and say that you own the property completely. Maybe you had a mortgage, but it’s completely paid off. The property is yours. Well… as Jon Stewart is fond of saying, not so much. If your state government decides that ... Continue reading this article…

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Dave and Annie Hall, Future Millionaires

by Flexo

CNN Money has yet another profile of a couple, Dave and Annie Hall, on their way to $1M in net worth. The couple’s income is $120,000 and they budget wiseley. Much of their net worth is in their home and other investment property, which is the same story shared by many of the subjects of ... Continue reading this article…

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