Core Financial Values

Teach Your Children the Value of Money

Posted on Wednesday, March 30, 2011

Key Points Earlier is Better Where Does Money Come From? Your Child Could Become a Millionaire Children and Allowances Make Saving Interesting Banking and Investing Compounding The Lesson Plan A Little Learning Can Pay Off Points to Remember "Reading, writing, 'rithmetic" — too bad that...

Three Wishes for Davos; Inclusive Growth, Support Entrepreneurship, Empower Women.

Posted on Thursday, January 27, 2011

The World Economic Forum's (WEF) annual meeting in Davos is one of the most exclusive events in the world and I am certainly aware of what a privilege it is to be invited. Since 1971 this event has drawn some of the most influential people in the world to discuss improving the state of the world. WE...

Financial Literacy: What Works? How Could It Be More Effective?

Posted on Wednesday, January 12, 2011

Abstract This paper highlights the extent and effects of financial illiteracy among American households, reviews previous efforts to promote financial literacy, and discusses new directions for such initiatives. None of the four traditional approaches to financial literacy - employer-based, school...

How can I be better prepared for the next market downturn?

Posted on Wednesday, December 22, 2010

Market volatility is a natural part of investing, but a downward swing can be difficult to get through. Make sure you've taken steps to prepare your savings and investment portfolio, so it's ready for unpredictable market conditions. First: Find out how the market impacts your long-term plans • ...

Mortgage Crisis Delivers 'Stealth Stimulus'

Posted on Tuesday, November 02, 2010

The silver lining to the foreclosure crisis cloud, which has stalled foreclosures nationwide, may just be the economic boost that comes from a temporary free ride. The Wall Street Journal puts a number on that "stealth stimulus" -- $2.6 billion a month. The money saved as debters don't pay their mo...

Top 6 Rebuilding Questions

Posted on Friday, October 29, 2010

This educational e-mail series answers the six, most-asked questions from our clients about strategies to help stay on track with financial goals. Question 1: Am I saving enough for retirement? If market conditions have impacted your retirement savings goals, it's important to know where you stan...

5 Credit Card Traps That Can Ruin Your Retirement

Posted on Tuesday, October 26, 2010

Beverly Blair Harzog Contributing editor, CardRatings.com Your golden years should be filled with things you've always dreamed about. Maybe it's a cruise to the Mediterranean with your significant other. Or maybe you're just looking forward to having the time to attend your grandson's baseball gam...

Seeking loan modifications shouldn't make homeowners target of scorn

Posted on Thursday, October 21, 2010

Brett Radosta is not a deadbeat. And yet to hear many people tell it, Radosta - whose home in metro Atlanta is scheduled for foreclosure by Bank of America - is making out like a bandit because there's a possibility he might get a loan modification. The criticism I get isn't about Radosta person...

As foreclosure freeze spreads, more could stop making payments, economists warn

Posted on Thursday, October 21, 2010

FORT MYERS, FLA. - In his spacious cookie-cutter townhouse on a tidy street near downtown Fort Myers, Joshua Bartlett has waited nearly three years for the knock on the door that never comes. T He hasn't made a mortgage payment since late 2007 and doesn't plan on starting now. He could benefit fr...

Happy hour offers support to mortgage 'deadbeats'

Posted on Thursday, October 21, 2010

Lisa Epstein flutters about the happy hour at E.R. Bradley's Saloon with a big smile and a small vodka and soda. She's a mother of a 3-year-old girl, a nurse to cancer patients and a deadbeat. Oh, she knows that's what people call her since she stopped being able to afford her mortgage payment ...

Bank New Tactic Blame the Borrowers

Posted on Tuesday, October 19, 2010

Once again, as another harebrained scheme unravels, the swinging dicks of Wall Street manage to appear impervious to reality and completely immune to the truth. Nearly every Attorney General in the country is now investigating what was not just simply serial fraud but a no-holds-barred crime spree ...

The Mortgage Morass

Posted on Monday, October 18, 2010

OP-ED COLUMNIST NYT By PAUL KRUGMAN American officials used to lecture other countries about their economic failings and tell them that they needed to emulate the U.S. model. The Asian financial crisis of the late 1990s, in particular, led to a lot of self-satisfied moralizing. Thus, in 2000, Lawre...

Strategic Defaults

Posted on Wednesday, October 13, 2010

At first blush it sounds better than winning the lottery: You get the cash up front and you don’t even have to buy a ticket to play! But strategically defaulting. In fact there are sound financial, legal, and ethical reasons to stay put. For example, paying rent years before being able to buy ...

Saving

Posted on Monday, October 04, 2010

Savers are giving up $5 billion in annual income as concerns about the dampening recovery and increasing unemployment push the prudent to keep their money in cash and away from investments, new research shows. Over the past year, consumers moved $542 billion from certificates of deposit to money ma...

DownPayments Today

Posted on Thursday, September 16, 2010

6 ways to come up with a down payment on a home The Department of Housing and Urban Development offers a Good Neighbor Next Door program that will allow state workers to buy a home for 50% off of the list price. (©iStockphoto.com) Click image to enlarge Also on the Web 5 Simple Ways To In...

Saving

Posted on Friday, September 10, 2010

Feeling Guilty: Americans Say They Aren't Saving Enough by Richard Morin, Senior Editor, Pew Social & Demographic Trends Project Most Americans say they're not saving as much as they should -- but they're apparently not worried enough to do much about it, according to federal economic data and a...

Saving Habits

Posted on Friday, September 10, 2010

We Try Hard. We Fall Short. Americans Assess Their Saving Habits Download the complete report for topline results At a time when the personal savings rate in this country has fallen into negative territory for the first time in modern history, more than three-quarters (77%) of all Americans d...

Malls

Posted on Friday, September 10, 2010

The Devil's New Playground: The Shopping Mall by Richard Morin While bars, cheap hotels and similar places of low repute may remain America's favorite spots to sin, two economists say that giving people an extra day to shop at the mall also contributes significantly to wicked behavior -- especia...

Palm Beach Post's Kimberly Miller on Strategic Defaulters

Posted on Thursday, July 01, 2010

1 in 5 Choosing to Default on Mortgages Though They Can Pay By Kimberly Miller, The Palm Beach Post, Fla. June 29--Nearly one in five delinquent mortgages through the first half of 2009 was owned by someone who could afford to pay, but decided defaulting was a smarter financial play. T...

A Word About Strategic Defaulters and FNMAs New Crack Down...

Posted on Monday, June 28, 2010

Larry Kudlow and I agreed on CNBC yesterday that we’ve had enough government intervention in the economic crisis to last a lifetime. But as Shaien Nasiripour points out in "Fannie ferocious; taxpayer owned mortgage giant attacking struggling homeowners," I was wrong. Fannie’s move to p...

Unemployment and Debt

Posted on Wednesday, June 23, 2010

A recent report from the Joint Center for Housing Studies out of Harvard reflects the expectation that unemployment will remain high. Also important, homeowners level of debt relative to equity stood at 163% as of the begin of the year indicating thast housing costs have become a severe burden...

Americans Take Back the Power and Adjust Lifestyles

Posted on Tuesday, May 18, 2010

In light of the economic crisis, consumers are taking financial matters into their own hands by implementing proactive spending habits and mortgage management strategies, according to findings from the Western Union Global Business Payments Money Mindset Index, a national survey of 3,000 consumers c...

Recent Study Hold Us Accountable

Posted on Tuesday, May 18, 2010

A recent study, The Foreclosure Crisis: Did Wall Street Practice Predatory Lending or Did Households Overreach?, found the latter to be true, adding there is plenty of blame to go around for the financial crisis. Both banks and consumers overreached. Banks extended too much credit to households,...

CULTURAL ENTITLEMENT, CREDIT,

Posted on Thursday, March 11, 2010

Welcome to our foreclosure nation. This may be the first time you've realized you're a resident of the nation, even if you never personality bought into the current real estate, mortgage, and financial Market mess, and that can be a bit of a shock. Understanding what a foreclosure nation is is easie...

Strategic Defaults; Why Do Companies Get to Walk But Homeowners Dont?

Posted on Tuesday, March 09, 2010

Correct companies make decisions like this based for the most part on the financial aspect. Homowners tend to be more emotional decision makers since their home is often more than just an "investment." But incorrect in that companies don't get to just "walk away." If there are guarantors on the lo...

The US Deficit

Posted on Tuesday, January 05, 2010

Expect a $1.6 trillion deficit for 2010, over 10% of GDP (some are estimating $2 trillion closer to 15% of GDP). Since 2007 the US balance sheet has tripled. Without including SS or Medi, national debt is over $12 trillion. The spending has a price tag of its own. The US will have to borrow ...

Government Uses “Teaser Rates” Just Like Everyone Else Did

Posted on Tuesday, January 05, 2010

The US has to refinance about $1.6 trillion of maturing debt this coming year. The country wil spend about $400 billion in interest to service our national debt which has about doubled in the last 2 years. This may exceed $700 billion by 2019. $4500 billion annual debt service is more than the en...

Encourage Owning "Free and Clear"

Posted on Sunday, May 24, 2009

FINALLY the mortgage industry is reporting an increase in 15 year fixed rate mortgages. Let's face it, the main reason any of us would get a 15 year loan over a 30 year loan is because we want to own our home free and clear as soon as possible. What an amazing concept! Granted 15 year mortga...

Encourage Americans to Own "Free and Clear"

Posted on Sunday, May 24, 2009

Washington should be encouraging this type of decisions making by giving us all more incentives to do it. *Maybe special tax write offs for folks who elect to pay of their loans quicker or own their homes from and clear. *Maybe bailout money to help make the rates on 15 year loans even lo...

Mortgage Fraud Amnesty

Posted on Sunday, May 24, 2009

What about an amnesty period until the end of this year for anyone - mortgage brokers, realtors, borrowers, anyone - who participated (knowingly or unknowingly) in mortgage fraud. Coming clean voluntarily now could carry a pre-established fine schedule payable over time to help subsidize this mes...

Food for Thought

Posted on Friday, May 22, 2009

Here are some more benefits of homeownership Home owners are more satisfied and happier than renters. Homeowners' children do better in school, are more likely to finish high school, and less likely to become pregnant as teens. Voting is higher among homeowners than renters. Property v...

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