Our Money guy said and says we should take a loan out for tax reasons
I had the money to pay off our mortgage earlier this year, but our adviser talked me out of it for the same reason. I wish I hadn't listened to him because we are down to a 4 figure amount as far as annual mortgage interest. The tax advantage just isn't significant to my thinking, as opposed to the 4 figure monthly payment that could be used for something else. Now it is too late and I don't have the funds to pay it off.
Sometimes it is better to go with you first mind, that is what my granny always said.
WOW, the market is in a free fall so far this (another Black Monday) day and if this keeps up the way the whole world has closed it will take for ever to recoupe and be able to retire as planned. Hold on, I think its going to be a rough landing.
The world markets had a major effect on ours today, as things cascaded across time zones. Plus, the notion the bailout was going to have an immediate effect was an unrealistic expectation. I think it will be a realistic expectation to see continued Dow swings of 300-600 points for the next several weeks.
Watching the recent market activity has given me the unescapable urge to dig in my closet and find my old yo-yo.
Of course, the Wachovia thing has started to crack me up. First, they agree to sell to Citigroup. Then, they back out and agree to a deal with Wells Fargo. Citigroup, throwing a tantrum akin to "Fine!! I will take my ball and bat and go home!" is now suing Wachovia and Wells Fargo for $60 billion. God bless America.
Originally posted by Dave Beers:
But in other news, oil fell below $90 this morning - $60 below it's peak just a few weeks ago.
"Toto, I don't think we're in Kansas anymore"
Yea and if it had gone up $60.00 in that time frame, it would have gone way up at the pumps. When it goes up our local stations raise the price the same hour. When it goes down it takes a while to see it had the pumps. Go figure.