2. Your best investment is to pay cash for your cars and trucks. Don't pay interest to a bank. My last car payment was in 1975
3. Your next investment is never pay credit card interest. I make money with my credit cards instead. Use them as debit cards. All my credit cards are auto paid directly from checking so there are no late fees and no interest. Getting interest back from the money you spend exceeds the interest you can get from a Bank savings account .
4. You can't retire with a mortgage payment. Make sure all your debts are paid for long before you retire. Getting rid of all payments will make you the best returns on your money.
5. Nothing wrong with 401K's especially if your employer has matching contributions. I look at it as free money and your contribution reduces your income taxes. With the down turn in 2008, many of my 401's became 201's.
6. Don't put all your eggs in one basket. I have CD's from a Bank. At one time that provided a good return. In 2008 the value of my CD's didn't decrease by half like the 401's, on the other hand, the current interest rates on CD's SUCKS.
7. Been looking at taking CD dollars and buying gold coins. More for a security reason instead of making a profit. With many countries, including ours, both sides want to spend more than they take in. Think of what has happened in the past 3 years. Our national debt has gone from 1.5 trillion to 15+ trillion. I hope it doesn't happen, but I think the sky is going to fall soon, and dollars will be worthless. This will happen when countries like China won't loan us any more money. For every $2 our government spends, it borrows $1. How long do you think this will continue at it's current rate?
8. 40 years ago I started a rental business. Bought homes, fixed them up and then rented them out. Sometimes it's a BPIA. Took all the profits and bought other places. Home values were thought to never go down, but they did fall. However, the rent I collect has never fallen, just goes up. Rental business gives me something to do and it still provides a good source of income. Sad to say, there are more good people who want to rent after losing their homes.
9. Most people don't think of insulating their home, upgrading doors and windows as an investment. It's the best money you can spend. Beats cutting wood. I also have happy tenants, because my places are very energy efficient.
10. Don't be like uncle Sam and spend more money than you bring in.
11. If you are thinking of a supplemental retirement income, find something you like to do, start out small and make sure you can make a profit.
12. There is no pot of gold at the end of a rainbow. There is no place to put your money that is going to make you a pant load. Invest in many different things.
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Today's Featured Article - An Old-Time Tractor Demonstration - by Kim Pratt. Sam was born in rural Kansas in 1926. His dad was a hard-working farmer and the children worked hard everyday to help ends meet. In the rural area he grew up in, the highlight of the week was Saturday when many people took a break from their work to go to town. It was on one such Saturday in the early 1940's when Sam was 16 years old that he ended up in Dennison, Kansas to watch a demonstration of a new tractor being put on by a local dealer. It was an Allis-Chalmers tractor dealership,
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