A loan that has been popping up more often these days is the Reverse Mortgage. This mortgage works differently then other types of mortgage loans in that it works in reverse in a way. Let me tell you a little more about reverse mortgages…
What would have been John Lennon’s 70th birthday just passed. His was a career most musicians would kill for and he died at 40. One could only imagine what would have come from him had he lived until now. Lennon’s work, and that of the Beatles, is some of the only music I can always come back to and enjoy. And as I age I see new wisdom in the lyrics of songs that, in my youth, just sounded real good. Lennon has helped shape the way I look at music and the world.
So here are some interesting John Lennon quotes on money and life (and my take on them):
We know how important a credit score is these days, don’t we? Yet many people still insist on doing what they can to destroy their score. Since some want to have a train wreck of a credit score here are five guaranteed ways to lower your score:
1) Pay your bills late. Here’s a good one to lower your score. Pay your bills late, especially loans and credit cards. And I’m not talking a few days late, I’m talking 90-plus days late. Wait until you get a collection notice, why dontcha? (According to Credit.com, accounts 90-days late can damage your score up to 7 years. Bingo!)
Ever run across someone that gives their children everything?
All the latest clothes, electronic gadgets, extracurricular activities, lavish weddings, education, you name it they have it. And then you find out the parents are struggling to keep their heads above water financially. Not “we’re just getting by.” No. I mean one month they don’t pay cable, another month they miss the electric bill; the rent gets paid late; always something and always “it’s for the kids!”
Investors construct their portfolios based on investment goals and risk tolerance by assigning appropriate weights to different asset classes and categories (or how much dough should go to each class). Over time, as market conditions change, investment performances among asset classes change but not in the same amount at the same time. Some assets may grow faster and become over weighted, while others fall behind and become under weighted. As a result, the risk profile of the portfolio is altered (you have too much invested in certain classes). Without proper adjustment, the current portfolio would have a higher or lower risk depending on the relative values of over weighted assets and under weighted assets. Portfolio rebalancing brings a portfolio’s current asset allocation back to the original mix so that investments can be realigned to initial investment goals to maintain an appropriate risk level.