Archive for March 2014

Monday Money Tip: Life Insurance

In today’s tip, I talk about a vital component of most people’s financial plan – Term Life Insurance. This is one of the most misunderstood components of personal finance, but it doesn’t have to be that way! This will be worth the small investment of time required to watch.

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Crazy Statements People Make About Money

Here are some crazy statements people make about money:

  • “My children are my retirement plan.”
  • “I’ll always have a car payment.”
  • “I don’t need to save any money for retirement because Social Security will cover me.”
  • “I can’t pay my house off in 10 years because it is a 30 year mortgage.”
  • “I want to buy a 401(k).”
  • “I’m still paying off the original Nintendo.”
  • “Money is evil.”
  • “I can’t budget.”

What crazy statements have you heard people make about money?

How To Pay Off Your House In Less Than 10 Years

Many people believe that because they have a 30 year mortgage, it will take 30 years to pay it off. Some have been enticed by gimmicks (that cost thousands of dollars) purported to help speed up their home pay-off using some “little known” and “magical” formula. The truth is there is one way to pay your mortgage off earlier – by paying extra money toward the principal balance and less money toward interest.

Here’s an example:

  • $150,000 mortgage balance
  • 4.5% interest rate
  • 30 year mortgage
  • $760 principal & interest payment

If one were to pay $200 extra per month toward principal ($960/month), the mortgage would be paid off in 19 years 8 months (a full 10 years sooner)!

If an extra $790 per month were applied toward principal (1,550/month), the mortgage would be paid off in 10 years flat.

Use our “Early Pay-Off Calculator” to calculate the difference extra principal payments or interest rate reductions would make!

5 Ways To Pay Off House Earlier

  1. Refinance to a interest rate
  2. Rent out a room and use the rent to pay toward principal
  3. Use tax refund to reduce principal
  4. Use a bonus to reduce principal
  5. Eliminate PMI and use the money to apply toward principal

I applied this technique and paid off my house in 6 years flat, and you can read every month of my journey by clicking THIS LINK.

Monday Money Tip: On-Line Banks – Earn More Interest On Savings!

I’ve used my on-line bank accounts since 2007. They have been incredible for me, and I think they can be a very helpful way for you to maximize your savings as well! You can check out the on-line banks I recommend HERE.

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You can receive the weekly Monday Money Tip in your email by subscribing HERE.

Joseph Sangl’s Current Investments

Anyone who has attended a Financial Learning Experience has heard me say that it is important to INVEST money and to do so every single time you are paid money. At the end of our live events, I am regularly asked or emailed the following question:

“What investments do you recommend?”

My answer is always, “I don’t recommend specific investments. I can only tell you the investments I own, and they have worked well for me. The investments you choose are up to you.”

Occasionally, I update everyone on the investments I currently hold. Below is a chart of the current investments we hold. If it is publicly-traded, I have included the ticker symbol. Click on the chart itself (or HERE) to see a larger version.


It has been a year since I last updated my investments. 2013 was obviously a great year for equity stock investments. As I mentioned then, I suspected the market would continue to grow. Of course, I was very happy to see this come to pass as I continued to purchase individual stocks. Due to the growth of the market, my stock investments grew from 2.2% to 3.0% of my overall portfolio. We continued to grow our small businesses and real estate holdings. This is part of our continued to effort to diversify BEYOND the stock market. As a result of the continued growth of small business and real estate investments, we have seen them push our market investments into a smaller piece of our portfolio. We are close to a 33%-33%-33% split between small business, real estate, and market investments.

JSinv2014pieMy thoughts:

  • I believe we will see continued growth of the U.S. Economy. This is based in part to my unscientific research of traveling the entire United States with our business activities. There are cranes in the air building skyscrapers in every major metropolitan area and shovels in the ground in the suburbs for new homes. You might notice that I’m investing in major home builders stock as a result of this belief.
  • Keeping cash and cash equivalents as financial margin is still essential to every person. This provides money to take advantage of opportunities.
  • I think it is a great time to continue investing in new businesses and existing ones. Our team will continue to investigate potential business acquisitions.