The right mindset for financial choices
Posted on November 30, 2016 by bob in MoneyWise
Over my 36-year career in financial services, I have learned that one’s mindset affects the quality of one’s decisions. Having observed at close range hundreds of folks dealing with financial choices, I have concluded that a realistic approach blended with a splash of hope is the best approach to take. Here are six other mindsets […]
Winning through defense
Posted on October 31, 2016 by bob in MoneyWise
Though I was never especially good at it, I used to play a little tennis. One of the most valuable things that I learned, and that any tennis player should understand, is that more points are lost than won. In other words, more points are decided when a player makes a mistake than when the […]
What happens to debt when you die?
Posted on October 2, 2016 by bob in Features, MoneyWise
By Jocelyn Baird, NextAdvisor.com Though it isn’t a topic many people like to talk about, we’re all going to die someday, and making preparations for the inevitable can save the people you love a lot of unnecessary grief. Of course, it isn’t always possible to plan for death, but any person with an outstanding loan, […]
How much is enough?
Posted on October 2, 2016 by bob in MoneyWise
“Financial planning is the process of using limited resources to meet one’s needs and reach one’s goals.” One of the best questions to ask yourself when considering a financial decision is, “How much is enough?” The question implies that, for any financial choice, a line exists. On one side of the line is territory labelled “insufficiency” […]
Funding your retirement “buckets”
Posted on September 1, 2016 by bob in MoneyWise
Since a synonym for “retirement” is “unemployment,” pre-retirees of every age should have a goal of accumulating resources for that day when they will cease working for a paycheck. By my count there are nine different “buckets” which can be funded during one’s working years for use during retirement. Not every option is available to […]
Retirement Planning: Part 1
Posted on July 31, 2016 by bob in MoneyWise
People approaching retirement often must make a lot of decisions. While selecting the best option in each category can enhance one’s future financial situation to a meaningful degree, a bunch of sub-optimal picks will produce the opposite. Among the challenges are: A. Most people only face these choices once in life and may be unfamiliar […]
Reverse Mortgage Part #3 — Best Use
Posted on July 1, 2016 by bob in MoneyWise
For some, the wise use of a Home Equity Conversion Mortgage (HECM), or FHA-insured reverse mortgage, can provide financial flexibility. In my opinion, an HECM should only be used: 1. when the borrowers are confident the home being mortgaged is the last one they will own; 2. they are not motivated to leave it as […]
Reverse Mortgage — Part 2 of 3
Posted on June 1, 2016 by bob in Financial, MoneyWise, NewsUCanUse
While Home Equity Conversion Mortgages (HECMs), or FHA-insured reverse mortgages, may be a helpful tool, their unwise use has caused serious difficulty for more than one family. HECMs have been around for years, and the rules associated with them have changed frequently, making it difficult even to find out what the current rules are. Anyone […]
Reverse Mortgage Part #1: The Basics
Posted on May 2, 2016 by bob in MoneyWise
No doubt you have heard of reverse mortgages, perhaps courtesy of celebrity advertising on TV. The reason these instruments get so much attention is that many older Americans have significant home equity but insufficient other resources to meet their needs in retirement. Reverse mortgages are a way to access home equity while still living in […]
Protecting Your Identity
Posted on March 29, 2016 by bob in MoneyWise
The creativity of the criminal class continues to evolve. Therefore, you need to take additional steps to protect your identity, confidential data, and access to any computers or similar devices that you rely on, especially for financial transactions. This month we will look at a few email-related threats that you should be aware of and […]
