Elena Difiore, Program Director Looking to fix up your house soon? Whether it’s a few things here and there or a complete renovation, it’s important to take time and find the right contractor for the job. That being said, there … Continue reading
Secrets of the Millionaire Mind author T. Harv Eker dropped in on Heather Wagenhals’ Unlock Your Wealth Radio this morning and it was explosive! Harv can really get an audience stirring as was evident in the chat room comments about what he was saying how he can predict your financial future in five minutes. Actually, he corrected himself on air saying that it was really five seconds but no one would believe him if he said that. Tune in to see how he proved it on air though!
It was so great for all of our listeners to hear it from someone else that your programming is what brought you to where you are now. I am constantly saying on the show we are a product of our programming and unless we take an active role to change that programming, we will continue to get what we have always gotten. Harv’s direct approach adds the shock value most of us need to start examining our habits a little more closely and identify what resides in our current “money blueprint” so on next week’s episode we can work to replace those files and clean up our money folder in our mental filing cabinet. Tune in and download the episode to learn more.
Using our featured strategy last week from http://www.unlockyourwealth.com on credit report review, comedienne Cocoa Brown found some inaccuracies on her credit report and began the dispute process. Today’s Key in our Keys To RichesTM Financial Wellness Series, Remember Real Estate focused on the four layers of risk an underwriter uses to determine mortgage creditworthiness and affordability. This week’s featured strategy is a “Know Your Ratios” strategy that you can download free at http://www.unlockyourwealth.com to give you step by step instructions to determine what your ratios need to be and how close you are to affording that first home! Next week’s key is Forget The Perfection Principle and we will learn how to get back in the saddle after financial catastrophe hits.
After downloading these episodes remember to add your reminders for Tuesday’s Millionaire Nuts and Bolts from Unlock Your Wealth Radio at 6:30am to grab this week’s Millionaire Focus and “start your day, the Millionaire way! TM”
Financial Independence… It’s a term that can mean something different to each person you ask. For some people, it means being free from any and all forms of debt. For others, it means simply not relying on anyone but yourself to pay your bills. But no matter who you are or what your current financial situation may be, when it comes down to it, financial independence is about gaining the necessary knowledge and information to take control of your own financial future.
Achieving financial independence is just as important for women as it is for men. We no longer live in the days of cookie cutter houses and white picket fences where husbands head off to work each morning to bring home the bacon. Today, we live in a society where women account for 46.8% of the total U.S. labor force and 51% of the high paying management, professional, and related occupations (US Dept. of labor). However, despite their increased presence and success in the world of business, many women would still rather leave the finances up to the man. To become truly independent, women cannot be content with just making their own money; they must also embrace the responsibility of taking charge of their personal finances.
Let’s face it. When we look towards the future, no one wants to consider the possible “worst case scenario,” or ponder all of the “what if’s” life may bring them, but we need to. Take marriage, for example. According to divorcerate.org, 50% of all first marriages in the United States end in divorce. Despite these statistics, many women out there are probably still thinking, “that would never happen to me.” Well, the reality is that it can happen, so it’s important to take the proper preparations. By taking charge of your personal finances early on, you can protect yourself and your financial independence even in the face of such unfortunate circumstances.
One of the most important “what if’s” to consider is death. It’s no secret that women live longer than men. All jokes aside, there are a multitude of factors that put men at a higher risk of dying before their female counterparts. That being said, it’s important for women to understand not only the emotional impact such a tragedy can have on their lives, but the dramatic effects it can have on their financial stability, as well. Being financially independent allows you to confront life’s intimidating “what if’s” with confidence and say, “I hope that would never happen, but if it does happen, I’ll be prepared to handle it.”
When all is said and done, being a financially independent woman isn’t just about achieving economic security, but mental security, as well. With knowledge, comes power. The more you know and learn about controlling your personal finances the better equipped you’ll be to handle life’s ups and downs. After all…if you don’t look out for yourself, who will?
Elena Difiore-Staff Writer-Unlock Your Wealth Foundation
Here are some comments I made to a reporter doing a story for a National news outlet and I thought it was worthy of posting here for you to peruse and comment on so let me hear all of your thoughts!
As Broker/Owner of HQ Real Estate and Investment, LLC in Scottsdale, AZ and host of the number one wealth radio show Unlock Your Wealth Radio, there are a few sides to the tax credit expiration which creates challenges on all of those sides and I am happy it is going away.
For homebuyers, it seems like free money and a potential panacea providing access to the American Dream of homeownership. Many of these homebuyers who would be buyers later in the year or not really ready until next year are trying to cash in on the free money. As a result, the homebuyers who would be better prepared financially if they waited, are forced to decide between buying smaller properties now versus a larger or more luxurious property later. They may have to sacrifice on that nicer home they initially were willing to wait for or they are putting a burden on themselves financially to get into the nicer home and cash in on the $8,000. The very problem that precipitated our current marketplace was lack of discipline, impulse gratification and poor planning on the would-be homebuyer’s part. That looks like what we are doing all over again.
The tax credit is poaching future customers for today’s tax credit. For the real estate agent that means smaller sales price equals smaller commission and less customers later which creates income volatility for the real estate agent and their complimentary industry partners as well. The pundits have said “the poach” of future customers could be as high as 10%. That affects appraisers, home inspectors, title agents, escrow companies, mortgage originators, mortgage processors, moving companies and insurance companies to name a few.
The tax credit has income exclusions so those more likely to be able to afford sustainable homeownership are not eligible. It really seems kind of oxymoronic to me. In my not so humble opinion, we are doing the same thing with this tax credit as we did when we dropped the interest rates so low and loosened underwriting guidelines to the point that a homeless, jobless illegal alien could qualify for a mortgage. My answer may not be totally on task, but I look at things differently than most. The biggest question I have yet to see answered is, “Who on this planet figured out that it was a good idea to take taxpayer money we haven’t even collected yet and use it to incentivize the very people on the periphery of sustainable homeownership who put us in the exact position we are in today?”
Can you really solve a problem doing the same thing over that caused the problem?
Posted in credit, debt, Finance, Homeownership, Housing Crisis, real estate, Tax Credit, Wealth
Trying to establish communication between my mobile and the blog. Let’s see if it works. Write me some comments if you see it.
Heather Wagenhals
www.unlockyourwealth.com
www.hqrealestateandinvestment.com
Well, its been a crazy month at our brokerage. Whoever says real estate stinks now, clearly isn’t working. Our new rock star realtor Brandon Mullan is kicking some tail with 5 closings in his second month at the game. He is bright and very customer service oriented. Plus being younger, he is very adept at the technology side of things and is the greatest eMarketer I have seen. We have added to our staff and as a result, I will be able to do more writing and training seminars in addition to the radio show. In just a short period we are now the number 4 finance show and inside the top one hundred most popular shows on BTR out of 10,000!!! Check it out now at www.blogtalkradio.com/unlockyourwealth .
You can sign up for our eZine and tweets too. For Money May we are tweeting financial tips and show promos too. You can follow our tweets at www.twitter.com @unlockyrwealth.
Ciao *~HDub~*
My last class for a new designation for CRMS Certified Risk Management Specialist is really provocative today. We are talking about agency law and the standard of care. We are now on the subject of buyer broker agreements and why they are so important to the buyer to receive the full benefit of all a real estate professionals legal and ethical obligations. Without one in place, the agent may or may not be held accountable for his lack of care and professionalism.
Ciao *~HDub~*
So much for the market being down, after only his second week in the real estate business he has already written 30+ contracts, has 3 accepted offers and a new relocation client to boot. Life is all what you make of it folks. You can listen to the horror stories on the news about the economy and choose to believe that the world’s gonna end or, you can take heed and address and live your life according to YOUR rules and make the most out of what you have. Whatever you focus on, you will bring to fruition. Norman Vincent Peale wrote about himself, “Happiness is a choice…so I choose to be happy”
Yes, it is that simple. So…what will you choose today?
Ciao *~HDub~*
I am just winding up our real estate day by faxing the last of 20 offers for one investor. Have you run out of cash and want to invest in real estate? Did you know you can tap your retirement tax-free using a self-directed IRA. Don’t know how you say? Call Sandra Ploszaj our new hot-shot realtor at HQRE and she will guide you through the process to begin using those wall street beaten funds for something tangible. Office phone is 480-522-1066 extension 2.
Ciao *~HDub~*
The Fed has really disgusted me today. To get the full groove of what I am blogging about , where did they learn economics, Cracker Jack Box University? My free toy inside was always a tattoo. This is what caused the problems before, too much money in circulation. There is still a cost to doing business and banks will not go below a certain threshold anyway. Grrrr. Don’t get me started on the regulating of credit cards either!!! Check out my other sites too http://www.heatherwagenhals.com/ Ciao for Now!!! H-Dub
