Book Review - "The Ultimate Depression Survival Guide" by Martin D. Weiss
This is a fabulous book. Absolutely great - not filled with the usual tired maxims, Weiss offers unusual strategies.
Run to your store or Amazon Books and buy it. (if you need it). Vaboomer has a free *new* copy -- to enter drawing send an email to: contact@boomermade.com . We'll select a winner next week.
Not to be "doom & gloom" but this writer is calling our current "Recession" the "the Second Great Depression". Well, whatever we want to call "it", we are facing some challenges.
Here are some tidbits from this great booK:
!) Pay Down Your Mortage - even "Fixed Rate Mortgages" --Even "fixed rate" mortgages are problematic, as "deflation" drags down wages but the payments on the mortgage do not decrease. So pay more than minimum payments.
2) Jobs -- Don't be in a fog if you are employed! Get out of your trance. Keep up-to-date on your company's financial situation - read & research. In the meantime assess what your company needs and acquire those assets.
3) Housing & Real Estate -"Don't look back" --- Forget what your property was worth at its peak or what you paid for it." What is the current situation? Look around & do your research.
4) Forget the 'Government as Savior' idea--- yes, it will help some people, but it will be "spotty".
5) Selling your Home? Offer an additional bonus commission for agents to get things rolling -- If the current commission rate is 6%, offer 8%. Make sure the extra bonus is indicated in the MLS Listing.
6) Safeguard your 401K & IRA accounts - Get a list of the investments. Shift to the safest fund.
7) Watch for Watershed Events to invest. When the government gets out of the "bailout business" (after they realize it didn't work so well), there may be a 'sea change' & a good time to find bargains.
The author believes we will survive and recover and life will go on, but we have to be alert & unerstand how events will likely take place. He believes "crisis breeds opportunity".
Visit the author's website: http://www.moneyandmarkets.com/guide
Well, it is a way to get them very interested in selling your home if it is languishing... but I do see your point!
Posted by: Nancy Mehegan | Tuesday, April 28, 2009 at 06:58 AM
Offer an extra commission to realtors to do their jobs? I don't think so!
Posted by: Rita@Goldivas | Tuesday, April 28, 2009 at 06:54 AM