Friday Night Highlights Vol 17

Friday Night Highlights Volume 17

Welcome to this weeks edition of the Friday Night Highlights, where I scour the personal finance blogging world to bring you interesting articles you may have missed.

Did you miss last week’s Friday Night Highlights? Not to worry, you can catch up with one click.

A 529 may be wrong for YOU. Living like a student could make you rich. And, FI voyeurs line up, as this family’s spending takes center stage. These stories and more in last week’s Friday Night Highlights. 

Welcome This week’s Friday Night Highlights

  • Mortgage Burning Party interviews Marc who paid off his house in 4 years.
  • Chief Mom Officer shares the tale of her recent tax filing and the surprises she discovered. Is the taxman lurking in the shadows waiting for a bigger cut?
  • Stop Ironing Shirts shares an I see Sam tale. Sam has enough! What is enough?

Friday Night Highlights

Marc paid off his mortgage 26 years early and bought his next house in cash

Interview Series: Marc paid off his mortgage 26 years early and bought his next house in cash

Turn off that episode of House Hunter’s. Turn down the volume on Chip and Joanna Gaines. I’ve got a secret to tell you! The whole world is conspiring to get you to buy more house than you need. That’s right! The bank, the real estate agent and even Home Depot, all want you to buy that big expensive house, locking yourself into 30 years of debt.

This article by Margot at the blog Mortgage Burning Party is actually an interview of Marc who paid of his home in 4 years.

“Having two young kids to provide for really changed my perspective. It’s nice to know that we don’t have to worry about being able to make a mortgage payment.” -Marc from Vital Dollar

When deciding to pay off your home early, the question of ROI (return on investment) often comes up. Could you make a better return by investing your money elsewhere than in your primary home? For Mark and myself there is great value in the security of a not having a monthly mortgage payment.

Related: 4612 Days Until Mortgage Freedom

So how did Marc manage to pay off his mortgage in 4 years? For that, you will have to read the post.  Read More →

Think Mortgage Interest Is Deductible? You May Need To Think Again.

Bye bye mortgage deduction (1)

It’s tax season, that special time of year where the question usually revolves around owing money to Uncle Sam or getting a refund. This year I’ve been hearing some rumblings of discontent.

While I have yet to start my taxes, I am a bit apprehensive for what awaits. Liz from the blog Chief Mom Officer wrote an article about her recent experience with filing her own taxes.

If you’ve been locked in a basement, let me bring you up to speed by saying, the US tax code was turned on its head. The biggest changes for this year being the standard deduction was doubled and personal exemptions were eliminated.

What was sold as a tax cut for the middle class, really has yet to materialize. Many taxpayers are finding that their beloved mortgage deduction is no longer thus resulting in higher taxes and heartache.

Liz walks us through all these changes in an easy to understand tax lesson. So buckle up, put on your thinking cap and go find out if Liz got a tax break or a tax increaseRead More →

Friday Night Highlights
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What is Enough?

Have you ever stopped to think what is enough? I spend the majority of my life at work exchanging my time for money. And for what? So I can have more! More house, more clothes, more car?

Honestly, more time is what I need, and spending the precious time I do have at work is a self-defeating game.

The blog, Stop Ironing Shirts, tells a tale of a guy named Sam who works most of his adult life building a franchise business. He starts with one franchise business and works his way up to 7 locations. All the while, each new location steals more of his energy and time but adds more annual income. Ultimately the question begs to be asked, what is enough?

What do you think Sam should do? Keep adding locations for more income or decide that he has enough to be happy? Read More →

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