Posts Tagged ‘program’

“The way we treat retirees in this nation is broken…

When the government created Social Security, it was as an anti-poverty insurance program… not a way to pay for your entire retirement. In fact, it began with only a 2% payroll tax and promised to never take more than 6% of a worker’s pay.

That promise was broken.

Today, Social Security takes a combined total of 12.4% of your pay.

And what do you get guaranteed in return?

Nothing.

According to the Social Security Administration’s own website, the Supreme Court ruled in 1960 that citizens have no legal rights to Social Security, no matter how long they paid into the system.

Social Security’s costs this year exceeded its income for the first time since 1982.”

-P.J. O’Rourke

Cash Problem

Posted: October 25, 2015 in Money Matters
Tags: , , , , , , ,

“I’ve never heard anyone in the popular financial community say it.  All they talk about is stock returns, 401(k)s, or some new trading program.  Another camp will tell you to save more by spending less money on coffee or cutting out your trips to restaurants.  This is—if you’ll excuse the correct word—bullshit.

The way to solve the problem you have is by generating extra cash.  Others won’t tell you this because (a) there’s no benefit to them in saying it and (b) most of them have no idea about how to actually do this.” -Mark Ford

Fannie Mae announced that it will offer a HomePath Ready Buyer Program.  They will offer up to 3% toward the purchase price of a home (if they take a home buyer education course).

“That’s right: We’re back to 3% down payments, rebated. And we’re back to the feds (Fannie Mae is a government entity) encouraging people to load themselves down with mortgage debt.  ‘Stimulus’, is what they call it.  ‘A debt trap’ is what it really is.” -Bill Bonner

Fannie Mae is already in receivership with the assistance of the government.  Now, they will be putting even more on their backs with this program.  This low down payment program didn’t end up so well just a few years ago, now it is being reinvented.

Is home ownership “affordable” if someone needs assistance?

Lifetime Effects

Posted: December 27, 2010 in Money Matters
Tags: , ,

“This program, in only a little over one month of use, has taught me more than a lifetime of spending. I can see the “real” costs of what I am spending. I can see how even very small fluctuations in spending and income can dramatically change my goal of being debt free. I am much less impulsive in my spending because I can see what the long-term effects of that careless spending do to my ultimate goal. I only wish I had found this program when I was younger. But, I am so grateful that I have found it in time to pay off my home and my debts and not leave my children and grandchildren with burdens at my death. Now, I can leave them a heritage that I did not have when my parents passed. Thank you so, so much! You have truly saved my future.”
—Anne H.