One final thing to think about… say you were to borrow at 100K at 6.5% rate, and get an average annualized return of 9% over a long period of time. This will result in far greater appreciation than you had you not borrowed at all and invested 100K at a 5% rate. Compounding works in a funny way.
Wayne explores this concept more fully at his site
Elsewhere, Golb Guru asks, “Is it wise to quit your day job and depend on your website for income?” His answer, unsurprisingly, is NO. This is the same conclusion I reached in May, though Golb Guru’s answer is much more thorough than mine.
Finally, Gretchen wrote to share eight tips for how money can buy you happiness. “The secret to using money to buy happiness is to spend money in ways that support your happiness goals.”
GRS is committed to helping our readers save and achieve your financial goals.Savings interest rates may be low, but that’s all the more reason to shop for the best rate.Find the highest savings interest rate from Ally Bank, Capital One 360, Everbank, and more.
This article is about Spare Change