As Retirement Insider editor Bob Irish says, the time to get your end-of-life plans in order is now—long before you think the end is nigh. You may not have the energy or ability later. The good news is it really isn’t that hard. In this month’s Retirement Insider, Bob shows you just how easy it […]
From Tim Mittelstaedt, editor-in-chief, Palm Beach Research Group: What if there were a better, easier, smoother way to borrow money than going to a bank or using your car as collateral? Dividend-paying whole life insurance policies—which we at the PBRG call “Income for Life”—come with guaranteed loan provisions. This means that the insurance company has […]
Automobiles are causing the biggest boom in subprime lending since the 2008 financial crisis… The New York Times reports “subprime” lending—loans made to individuals with higher risk of defaulting on their repayment—now accounts for almost one-third of all car purchases. Even worse, subprime lending’s fastest growth is in “title loans”—short-term loans that use cars as […]
Of the hundreds of wealth-building strategies I have tried over the years, the best one was also the simplest. It is this: Make sure you get a little bit richer every day. This thought occurred to me almost 30 years ago. I had recently decided to become rich, and that decision had me reading and […]
Maybe I’m lucky. Or maybe it’s just common sense. I’ve been involved in the investment advisory business for 30 years. And except for a few early mistakes buying real estate, the big financial hoaxes and bubbles that devastated so many investors never burned me. That made a huge difference over time. It allowed me to […]
I grew up relatively poor, the second of eight children. My father earned $12,000 a year as a college professor. As a teenager, I was ashamed of our small house, my hand-me-down clothes, and my peanut-butter-and-jelly sandwiches. I dreamed, literally dreamed, of living like a rich man. And so, when I got my first job […]
In the mid-1980s, a few years after I “decided to be rich,” I bought my dream house. It was a 4,000-square-foot chateau-styled, custom-built, five-bedroom home in a very nice gated neighborhood called Les Jardins in Boca Raton, Florida. The cost of the house was about $600k—more than I ever imagined I could afford. But thanks […]