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Newsflash: You can’t get out of debt until you stop being broke! By Kevin M Some argue that if you’re in debt the priority needs to be to payoff your debts before attempting to build a savings account. Many call for the establishment of a small emergency fund—typically $1000—to handle contingencies, and then to pour all [...] Low Cost/Debt Free lifestyle as part of retirement planning Kevin M Most articles on the subject of retirement planning focus completely on growing tax sheltered retirement savings plans like 401k’s and IRA’s. It’s an effort to build a large capital base as a way of creating a strong retirement income to enable us to maintain [...] By Kevin M How is it, that when we put money into commodities or raw land, we’re “speculating”, but when we buy growth stocks or growth stock mutual funds, we’re “investing”? Where’s the dividing line? Is there a dividing line, or is it all marketing spin? In recent decades, investing in the stock market has [...] By Kevin M Question: is a car an asset or a liability? That was a theory question in a sophomore level accounting course I took in college way back when. After some debate among the class, the professor confirmed what we all knew, that the technically correct classification is “asset”, but felt compelled to add, “Of course, [...] And other questions you should ask before buying a home! By Kevin M Many articles have been written on the buy-verses-rent question, but most of the analysis tends to center on the dollars and cents side of the question. We read about tax advantages, investment potential, home buyer tax credits, income ratios—all important considerations, but all [...] IS CONVENIENCE OUR SERVANT OR HAS IT BECOME OUR MASTER? By Kevin M For most of the 20th Century convenience was pursued as a means to make life easier and to eliminate undesirable chores from daily life. To the World War II generation, the 1950s brought a surge in time saving devices that were a welcome [...] By Kevin M This is just my opinion, but I think tipping is kind of a crappy set up. A restaurant relies on tips to pay the staff a decent wage, so the waiter/waitress is caught in the middle, working for a business that won’t pay them fully for what they do, but never certain the [...] By Kevin M Conventional wisdom holds that once a car reaches a certain age and book value that the collision coverage portion of an auto insurance policy be canceled. But I may have stumbled upon a compelling reason why you might not want to drop the coverage no matter how low the book value of [...] By Kevin M If you’re living paycheck-to-paycheck, and struggling just to get by each month, that situation won’t improve until you reach the point where you have a cushion to back you up. You might think that the pressure would be eased by an additional income source, but the problem with higher income is that [...] |
 
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Tax Benefits of Homeownership – Three Reasons Its Over-rated
By Kevin M
One of the most compelling reasons for owning a home is the heavily touted tax benefit owing to deductions for mortgage interest and property taxes. Real estate agents will play this benefit for all it’s worth in extolling the idea of homeownership for all.
However for three reasons, this benefit is not what it [...]