Other Debt Repayment: 15% Not your mortgage or car loan, but student loans, credit cards or other debts. Money’s post, people fall on both sides of this optimal budget, and by varying degrees. I’m paying less than her optimal budget would suggest for Housing (mortgage payment, HELOC payment, condo fees, and utilities, including internet and cable TV — I’ll debate whether cable TV is a Housing cost or a luxury or Life cost) and Transportation (again, we can sidestep the debate as to whether I should be factoring cab costs in as Life or Transportation), am putting more into Savings than she suggests, am putting a ton more to Other Debt Repayment, and am spending more or less what I should be on Life. Plus, I refinanced this year, which I suppose represents an additional Housing cost; however, that has freed up more money that should probably be going to Other Debt Repayment.
If you don't save for your own future first, you won't be able to help your children when they need it. If it's a parent's cash, there's no hesitation in handing it over to the cashier.
The take-charge investor is in control of their funds whether that is a lot or a little.
Many New Direction clients are augmenting the real estate buying power of their IRAs via debt leverage.
Following on the heels of disclosures about Mitt Romney’s stellar self directed IRA performance and the Wall Street Journal article, “IRAs get Sexier”, NBC’s Today show continued exploding the myth that IRAs are limited to investing in publicly traded securities.
Finance Editor Jean Chatzky’s discussion of Alternative IRAs revealed a wide range of investment options.