$ WEALTH BUILDING POWERS

by Powers Investments Management, LLC August 12, 2024
REAL ESTATE INVESTMENTS

2024 Strategies For My Daughter to Combat Rising Mortgage and Housing Costs

Disclaimer: Good Day, Readers.  WealthBuildingPowers blog is a financial literacy/competency blog and does not provide specific investment recommendations.   YES, YOU STILL CAN BUY A HOME IN TODAY'S TRYING/CRYING TIMES Photo by Karolina Kaboompics on Pexels.com When I sold our Illinois home in 2023, we had a 2.67% interest rate.  Millions of homeowners fortunate enough to have a similar rate feel forced to stay put versus accept today’s seven percent mortgage.  We were blessed not to need ...

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by Powers Investments Management, LLC June 5, 2021
FINANCIAL LITERACY , INVESTMENTS , REAL ESTATE INVESTMENTS

IS IT A GOOD IDEA TO PAY YOUR MORTGAGE OFF EARLY?

The major factor in paying your mortgage off early is prioritization of limited resources- your income. You already have a mortgage payment and hopefully, you are contributing to a 401-K plan and if you can afford it a IRA plan. If you have children you may be contributing to a 529-Plan. With above expenditures and more, only a few can afford to pay a mortgage off early. But maybe, you ...

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by Powers Investments Management, LLC April 1, 2019
FINANCIAL LITERACY

FINANCIAL LITERACY IS JUST NOT THAT COMPLICATED – TRUST ME!

It is estimated the lack of financial literacy, cost Americans ~ $300 billion in 2018, or three Bill Gates’ fortunes. While financial literacy is not rocket science, 63% of Americans are considered "financially illiterate."  People who are financially illiterate have difficulty applying financial decision-making skills to every day real-life situations.  SO WHAT EXACTLY IS FINANCIAL LITERACY? Financial literacy is understanding all aspects of money, such as: taxes, savings, paying bills, retirement, budgeting, paying for ...

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FINANCIAL LITERACY , INVESTMENTS , REAL ESTATE INVESTMENTS

IS IT A GOOD IDEA TO PAY YOUR MORTGAGE OFF EARLY?

If you have purchased a home, congratulations! I am confident you did your research and made a GREAT investment. Let’s discuss pros and cons of paying off that worrisome 30 YEAR mortgage early. My opinion, if you can afford to pay your mortgage off early, do it. I have paid one off early and in the process of paying two more mortgages off early. For me at least, I sleep better! Let’s ...

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