Michael’s posterous

Michael Lynton  //  I am married to Sarah and live in Austin, TX. I like to take photos of my food and Yelp about it. I workshift by day as an IT Sales Engineer, usually from home. I'm a fanatic of the cloud, tech, & personal finance. Still figuring out what I want to be when I grow up.

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02.02.2010

Three Mistakes That Can Sabotage Your Retirement /via @ramseyshow

Debt does not help you build wealth for retirement, nor does it save you money. Debt is not a tool that can build prosperity. Every day that you’re in debt is a day that you sabotage your retirement.

If you want to be rich when you retire, then do what rich people do. According to Forbes magazine, most rich people agree that the best way to build wealth is to become and stay debt-free. If you haven’t yet begun your Total Money Makeover, start now!

via daveramsey.com

Contrary to (somewhat) popular belief, I don't believe there is such thing as "good debt". Are you mad at your debt? Get mad at it, and get rid of it!

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12.30.2009

Navigating Incoming Credit Card Rules /maybe this will push people towards plasectomy

Some banks are adding annual fees to their credit cards. Citibank recently notified some customers that they're going to be hit with an annual fee of $30 to $90 if they don't spend a minimum of $2,400 a year with the card. The Bank of America is introducing annual fees to a few customers in a "test." We haven't seen this kind of thing in years, because the industry has been so competitive. Now, we are seeing more of it, and annual fees may become commonplace with credit cards. Again, this is an attempt to boost revenue in advance of that revenue stream becoming limited once the protections go into effect in February.
via cbsnews.com

Maybe it's not such a bad thing that the credit card companies are fighting back. Hopefully it pushes people to cut their credit cards and pay cash

 

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11.18.2009

Why pay off your house, isn't it a tax break?

  

DR answers the question "why pay off your house, isn't it a tax break?" Audio "ammo" from #TDRS

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09.17.2009

All Dave's books, CDs & DVDs are $9.99
via daveramsey.com

Last weekend, I purchased The Total Money Makeover from the site. After shipping and tax, I spent about $15 - still, $10 cheaper than retail. You should check out all the great stuff in the store. Only a couple more days!

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09.14.2009

Dave's Baby Steps

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09.03.2009

Dave says to buy Term Life Insurance

I have been in the market for homeowner's insurance. I just about have it all squared away. In talking with the provider, I am finding that there are multi-line discounts to be had. Today, as I was nailing down the details of the new homeowner's and auto policies, they asked if I had life insurance yet. I do not, but have planned to buy it very soon. Well, I think this is the time, because there is yet again another discount for adding it to the array of policies.  I knew Dave Ramsey says to go with term life insurance (15 to 20 years) with coverage of 10 times your salary. However, I wanted to just hear it from him again. Here is a video I found:
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08.28.2009

Dave's Thoughts on "Cash for Clunkers" - great read @ramseyshow

The worst car accidents happen on the showroom floor. New cars go down in value like a rock.
via daveramsey.com

Dave always does such a great job putting things into perspective! Thanks, Dave.

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