We have several excellent articles today on topics that are both timely and appeal to many of us. There is an article from Time.com discussing the proper ways to pay down your mortgage to help you become debt free. There is an article from Entrepreneur magazine which looks at ways that money really can buy happiness. There are also articles about retiring early, discussing finances with your kids, and the 10 commandments of financial planning; this one is truly a must read. Check ’em out.
- The Right — and Dangerously Wrong — Ways to Pay Off Your Mortgage Early (Time): You probably don’t need a pricey service to pay down your mortgage more quickly. There are many great reasons for wanting to pay off your mortgage fast — not in the least part because it can save you a lot of money in interest payments. Although mortgage accelerators may be a tempting way to speedily pay down your loan, it’s worth being cautious. They just might be too good to be true. How do mortgage accelerators work?
- 3 Ways Money Can Buy You Happiness (Entrepreneur): For as long as I can remember, I have been focused on making money and building true wealth. What does it mean to make your money matter and how does this lead to happiness? I interviewed my friend Cole Hatter, the multimillion-dollar entrepreneur. Here is how Hatter is leveraging his wealth to make an impact and the three ways he says money can buy you happiness.
- How to answer 5 of the most awkward questions your kids will ask about money (Business Insider): Kids have a knack for zeroing in on things you don’t want to talk about. For instance: money. Not “How much does that cost?” or “Is there such thing as a $1,000 bill?” but rather the bigger, touchier questions, like “Are we rich?” In his book “The Opposite of Spoiled: Raising Kids Who Are Grounded, Generous, and Smart About Money,” New York Times personal finance columnist (and father) Ron Lieber explains how to answer some of the more sensitive financial questions kids tend to ask.
- The 10 Commandments of financial planning (New York Daily News): Here are my “Ten Commandments,” or principles that, when followed, can help create an action plan to organize your financial life and help you to better understand what it takes to achieve financial independence.
- 5 Ways to Retire Early (US News & World Report): Early retirement is a dream for some people, and a nightmare for others. Many baby boomers have been booted out of the workplace in their 50s, unexpectedly and unceremoniously, while they still have a mortgage, a car loan and college tuition bills. Suddenly there’s no more paycheck, no more benefits and no more contributions to the 401(k) plan. People who are thrown into early retirement are typically left to their own devices.