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"Wealth Builder University Blog" - 5 new articles

  1. Ruin your retirement in just 9 moves
  2. Couple Awarded $1 Million For Bad Credit Reporting
  3. How old are you really?
  4. Retire Early? Fugetaboutit!
  5. Mortgage Market Woes: A time for Risk AND Attitude Adjustments
  6. More Recent Articles
  7. Search Wealth Builder University Blog

Ruin your retirement in just 9 moves

I loved the subject line of the email I received from Bank CD and Investing News -

"9 Dumbest Moves To Ruin Retirement"

These are the headings of the 9 'dumb moves' found in that article:

1. Buy more home than you can afford
2. Base your projections on today's costs
3. Raid your 401(k) or cash it out
4. Count on Social Security 
5. Believe your benefits will never change
6. Allow your kids' needs to trump yours
7. Count on your partner's income
8. Plan to work forever
9. Don't worry about health issues

I have a feeling most of us 'baby boomers' relate to some, if not most of them.

Discuss your plan with your significant other to make sure you are both on the same page.

Good luck

Alex Weiss
Co-Founder, www.WealthBuilderUniversity.com

PS  Have you used the WealthDollars Detector at www.WealthBuilderUniversity.com


Couple Awarded $1 Million For Bad Credit Reporting

Every once in a while it's nice to see that the little guy wins.

Below is an article from a mortgage industry newsletter we subscribe to that had a sad story with a relatively happy ending.

Good luck.

Alex Weiss
WealthBuilderUniversity.com , co-founder

Couple Awarded $1 Million For Bad Credit Reporting

With spotless credit, Reed and Mary Ann Fisher had always paid their mortgage on time, but a two-year nightmare began when Wells Fargo started to falsely report them as delinquent.

Even after the mortgage was transferred to Freddie Mac, the original lender did not clean up the credit report as they had told the couple, but rather went on reporting them to the credit agencies and even began foreclosure proceedings on the property to which they had no claim.

The rest of the article can be found at http://www.mortgageledger.com/modules.php?name=News&file=article&sid=2463


How old are you really?

One of my business associates sent me a great calculator.

It calculates you Real Age (sometimes called Health Age) which is different from your current physical age.

Check it out.  http://www.peterrussell.dreamhosters.com/Odds/RealAge.php

It was an 'eye opener' for me.

Alex Weiss, co-founder
www.WealthBuilderUniversity.com


Retire Early? Fugetaboutit!

If you were planning to rely on social security to help fund your early retirement (age 62), perhaps you should make other plans.

The  Center for Retirement Research at Boston College has released a new Issue in Brief:

"Promoting Work: Implications of Raising Social Security's Early Retirement Age"

The bottom line is that the thinking at the ivory towers might be the sign of the direction our government in Washington is thinking about. 

Retiring at 62 may soon be a thing of the past - as if it's not already.

Check out the full report at http://clicks.581z.com/v/?u=b33cb9e91571e6c859599334b84ca154&g=417&c=711&p=0f9fe2a8a5ea9d2087ae3b42afa57aa2&t=1

Good luck to us all.

Alex Weiss, co-founder
www.WealthBuilderUniversity.com


Mortgage Market Woes: A time for Risk AND Attitude Adjustments

I clipped the following from the NY Times as I felt it gives us a pretty good indication of what to expect in the months and even years ahead. Could this 'subprime' melt down make the S&L crisis look like a 'cake walk'? Is there any relationship here between the 'junk bond' years and 'subprime' years? Regardless, I was pleased with the announced proactivity from the administration and FHA. Is it possible for public and private organizations to collaborate on processes and products that might help to alleviate capital market fears? I would suggest that consumers find ways to communicate and 'exploit' their individual economic-carrying-capacity as an effective strategy in negotiating work-out terms with lenders. This might require increased transparency and a willingness to be more accountable to a lender to avoid what historically would be a foreclosure. With today's technology there are ways to achieve better data for both borrowers and lenders to make better financial decisions through the next several years. Thank You FHA/HUD and the administration for 'stepping up'. As a People now, let's do our part.

Greg Johnson, Co-founder
www.wealthbuilderuniversity.com
www.wealthdollars.com
Bernanke provided additional context and information surrounding the Fed’s decision on August 17 to lower the discount rate, broaden the terms on discount window borrowing and issue a revised economic statement. In particular, the deterioration of financial market conditions combined with the tightening of credit in the first two weeks of August had appreciably increased the downside risks to growth. More specifically, the further tightening of credit conditions increased the risk that the weakness in the housing sector would be deeper and more prolonged than expected, with possible adverse affects on consumer spending and housing more generally.
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