Quotes of the Day

To make sure you can move quickly to borrow if needed, keep an eye on your current ratio (assets over liabilities--at least 2:1 is good) and quick ratios (liquid assets divided by current liabilities--should be over 1:1). [2000] - Robert T. Kiyosaki

Gold has no counterparty risk. It's inherently valuable, and if you won it, that value is yours. It's immune from government depreciation, corporate misbehavior, wartime disruptions, or whatever. A few other investments have this immunity as well: real estate, for example. But even among these assets, only gold is portable, private, liquid, and eagerly accepted all over the world. [2009] - James DiGeorgia

The most effective way to get your offer accepted is to attach a cover letter to every Offer to Purchase you submit. The job of this letter is to clearly communicate to the vendors why he or she should accept your offer; it points out the highlights of the offer and any additional information that the vendor would find comforting, ,such as your experience and maybe even a testimonial or two from previous vendors from whom you have purchased. Keep the letter short and to the point. Sign it in blue ink, so it doesn't look like a photocopy. [2009] - Don R. Campbell

There are a number of ways that the equity you build in your principal residence can serve either to create an income stream or to provide access to an amount of capital. In either option, the receipts are free from taxation. You're not taxed when you take out a loan, and that's really what you're doing, whether in the form of a reverse mortgage or a line of credit against the equity of your home. While you may not be required to repay what has been borrowed as long as you live in the home, that payment will be due if you sell your home. In my opinion, this step should be taken only after other income-generating avenues have been explored, and then only as an action that's necessary to provide additional cash flow. I would certainly suggest that you wait until you're in your early seventies before considering this. [2019] - Daryl Diamond

A living trust places your portfolio in the hands of an independent manager, usually a trust company, with family members as co-trustees. The trust receives your investment portfolio and the trustees manage it such that you receive a stable income for life, similar to an annuity. The remaining capital is distributed to family members on your death. The provision of the trust agreement should provide instructions for the financing of your care should you require long-term medical attention. The main requirement for trustees is that they be competent, independent parties who will manage your affairs in your best interest. [2020] - Douglas Gray