UOB now publishes its annual fee waiver rules. If UOB is your first and only card, the fee is waived on request. With more cards, spend S$5,500 on the card in 11 months. The post Finally, A Clear Rule On UOB’s Credit Card Fee Waiver appeared first on Turtle Investor.

Running a small business in Australia means watching every dollar. Rent, wages, insurance and supplies all add up quickly. When a new piece of equipment is needed, the instinct is often to buy it outright. Yet for many small and medium businesses, renting equipment is the thriftier choice. Here are ten reasons renting often beats […] The post 10 Reasons Renting Business Equipment Beats Buying for Some Australian SMEs appeared first on The Thrifty Issue.

A reader recently sent me this question: “I feel very swept up by the rhetoric around the need to provide a lot more housing for my children. How on Earth do you both resist that urge? And considering that you can afford it?” It’s a good question, especially now that our portfolio has grown to the point where we could even afford a house in Vancouver. And yet, we still choose to rent. Since becoming […]

A reader recently sent me this question: “I feel very swept up by the rhetoric around the need to provide a lot more housing for my children. How on Earth do you both resist that urge? And considering that you can afford it?” It’s a good question, especially now that our portfolio has grown to the point where we could even afford a house in Vancouver. And yet, we still choose to rent. Since becoming […]

🎙️ Episode #512 – Need $50K in two years? Another rental could set you back. I share four smarter ways to generate cash now while… The post DON’T Buy Another Rental If You Need Cash in 2 Years appeared first on Coach Carson.

Who else loves playing with the amortization calculator on your mortgage servicer’s website to see how much you could save by paying a little extra each month? Every month when I go through our finances, I take a look at the calculator for our two mortgages. It’s amazing to watch compound interest in action as you experiment with numbers in the calculator! Keep reading to learn how I decide when and what to pay extra, […]

🎙️ Episode #511 – Brian Waters owns 20+ rentals across the country, many in markets he’s never visited. He shares lessons from turnkey rentals to… The post He Bought 20 Rentals 2,000 Miles Away. Here’s What Happened appeared first on Coach Carson.

Don’t miss an episode of our podcast, Personal Finance for Long-Term Investors. Available on all podcast players. Here’s the latest episode: Jay wrote in and asked: I’m curious if you’ve gone over DINK (double income no kids) options for those that don’t feel the need to pass on any money to future generations either. For example, if we eventually have no mortgage on our house a reverse mortgage sounds appealing. Let’s cover the basics of reverse mortgages, share some of the pros and cons, and ultimately discuss when they might be worth looking into. The Basics of a Reverse Mortgage Standard reverse mortgages are a special type of home loan available to homeowners aged 62 or older. They allow these homeowners to convert part of their home’s equity into cash without selling the house or making monthly mortgage payments. So far, it sounds a little too good to be true. The homeowner keeps their house and receives a lump-sum payment? Yes, but there’s a catch. The homeowner is now indebted to a lender, just like in any other mortgage. And the debt grows over time due to interest and fees. The loan is typically repaid when the homeowner sells the home or passes away. At that point, the proceeds from the home’s sale are used to pay off the loan, with any remaining equity going to the homeowner or their heirs. Reverse mortgages can be a lifeline for retirees needing extra income. But they also reduce home equity, come with interest and fees, and can complicate estate planning. The Pros of a Reverse Mortgage Most financial products are a combination of heaven and hell, and reverse mortgages are no different. Let’s start with heaven. What are the pros of a reverse mortgage? There are no monthly payments. You can stay in your home without a monthly bill, freeing up cash flow in retirement You keep your house and you can age in place. The title still has your name on it and you can’t be forced out as long as you meet the terms of the loan. The proceeds are tax-free. The money doesn’t count as income so it generally doesn’t affect retiree taxation concerns. The loan is non-recourse, which is a fancy way of saying that neither you nor your heirs will ever owe more than what the home is worth. Even if the loan balance ends up exceeding the home value, FHA insurance covers the shortfall. Your heirs will have options. They can keep the home by paying off the loan or by paying 95% of the home’s appraised value (if that’s a lesser number). The Cons of a Reverse Mortgage Heaven seemed nice! What about hell? There are high upfront costs. Commonly, there’s an initial FHA mortgage insurance premium (2% of the home’s value), origination fees (many $1000’s), and closing costs. It’s an especially expensive proposition