He is 40 now and a self-proclaimed "credit junkie" with a credit score over 800, but in 2008 when he was in his twenties and laid off from his job, he was burdened with having to pay a mortgage on a new home, just over $20,000 in student loans and over $10,000 in credit ...
Home equity loans are borrowed against the value of your home that is greater than the balance of your mortgage.9For example, if your home is currently worth $300,000, but you owe only $200,000 to the bank, you may be able to borrow against the $100,000 in equity. It is typically...
While their high income serves as a reward for their hard work, they often find themselves heavily taxed for their efforts. After working 12-hour-days for 20 consecutive days healing people, you might not be pleased with forking over more money to the government than you get to keep! Durin...
When I retire in four years, I plan to do a Roth conversion ladder to get as much of my pre-tax money into post-tax money. I want to retire at age 65, and I don’t plan to take Social Security until age 70. I will live off of my Roth 401k during that five-year period. ...
I expect to have the house paid off about the time the kids go to college. Those mortgage payments can then be redirected toward college expenses. I also plan to have the ability to retire early and be financially free, but knowing me, I probably couldn't handle a full retirement starting...
Besides no longer having to pay a $1,314 a month mortgage, the other great benefit of paying off debt is that it simply feels wonderful having no debt. When I decided to pay off my business school loans, it felt magical – like a snuggling with a fluffy golden retriever puppy. ...