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Cyclic Stocks vs. Growth Stocks

The 8 Biggest Money Mistakes. Mistake No.7


Having a 30-Year Mortgage

Where do you find the money to build wealth? Try looking at your mortgage. Millions of people think nothing of paying for their home over 30 years, even though the average homeowner ends up paying two-and-a-half times the purchase price of the home by stretching the payments out this long. Having a 20 or only 15-year mortgage instead of 30 years can save you huge sums of money and help you build wealth.

After “Mistake No. 8” I’m going to post a blog with 4 examples to show you in numbers how much money you can actually save. It's enormous!

Tomorrow I’m going to post mistake No.8: Squandering the money that you are now saving.

Till then!


Ricky Schmidt
www.stockbreakthroughs.com



Published Tuesday, February 06, 2007 11:12 PM by Ricky007
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Comments

 

silverlake said:

You do make me a bit depressed. I think so far I've made almost every mistake you've put up (I'm ok on the mortgage I guess)
February 6, 2007 8:53 PM
 

rextrader said:

Hi Ricky,

Yes, I agree w/you on that point about mortgages, if the people actually hold the mortgage for the 30 year term...but few people do that anymore....most people end up selling for profit w/in 5 to 7 years, and trading up to a bigger better home.  But definitely, I agree, if they hold their $500k mortgage for the full 30 year term, they would have paid close to $1mil over the 30 year span.
February 6, 2007 9:17 PM
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Cyclic Stocks vs. Growth Sto...
How to choose the right kind of stocks by knowing the huge difference between cyclic stocks and growth stocks that can make you money, or lose you money?

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