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Contributed by mm | September 12, 2006 2:06 AM PST
This is probably among the worse tips from Suze Orman. Whether to pay off a mortgage should be a function of many other factors, especially whether you can earn more money to invest some extra cash compared to the rate you have on your mortgage. There is simply no one-size-fit-all.
From Yahoo:
What I am talking about is spending your 40s and 50s-your prime earning years-paying off the mortgage so that when you stop working you no longer have this big monthly bill to pay. (If you rent, obviously the first goal is to buy a home so you can set up an accelerated mortgage payment plan of your own. You don't want to be paying rent in your golden years any more than you want to be saddled with an unpaid mortgage.) Of course you'll always have property tax, insurance, and maintenance costs to cover, but by eliminating your basic mortgage you will have bought yourself a whole lot of security.
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Best Place To Retire (September 14, 2006)
Money magazine named five towns to be the best place to retire in this country:
Walla Walla, Wash.
St. Simons Island, Ga.
Prescott, Ariz.
Holland, Mich.
Williamsburg, Va.
Quicken vs. Microsoft Money (September 13, 2006)
I prefer Microsoft Money and have been using the software since 1999. However, to me, both Quicken and MS Money are far from perfect tools. I look forward to more integration of online banking and stronger reporting capabilities. Kiplinger has a good review on both ...
How To Maximize Your IRA (September 12, 2006)
If maximizing your IRA is important to you, you may want to learn these five important strategies from Sue Stevens.
401(k) Balance Is Rising (Fast) (September 11, 2006)
Yes, using 401(k) to build your nest egg is a must-have for the middle class. However, I don't think the study is conclusive. How much of the growth is attributable to the continued salary deduction (vs. portfolio appreciation)?
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