5 Financial Tips You Should Ignore

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I recently read in another article that 1/3 of people who switch jobs cash out their 401k. That sounds crazy to me when you consider the financial penalties for it! Maybe they thought they would need the cash while they job searched but I also assumed it was because people didn't know they could take their 401ks to their new jobs. I think people are just ignorant when it comes to retirement plans. I found www.erollover.com had some great advice on how to rollover your 401k and plan for retirement.

Chris of GA 8:51AM March 09, 2011

Financial advice like venturing into Multi Level Marketing, this kind of investment misled a lot of people thinking that this is an easy way to get rich. As for me if you really want to sell the product that the company offer then you must do a lot of research beforehand, the competitors of this product, the market, how easy or hard to sell this. Do not take the word of the person who is trying to suck you in, make your own research since your money is involve with this.
Whichever financial advice that is in favor of handiness and risk almost certainly isn’t going to work out too well. In order to gain and benefits with your investments you must be responsible and follow the proven methods when it comes to building your investment, indeed some takes quite a while but nevertheless you will be pleased in the future.
On the other hand, the responsible usage of credit card is definitely a good one. For me, it is better to take care and read the small details before you make a decision, so you won’t have any regrets later. For credit card offers (news, advice, and more) you can visit CreditCards.org

Ade 1:48AM March 09, 2011

Worst advice for me is; it is better to rent than to buy a house
http://consolidatedsearch.net/

sa of AL 1:33AM March 09, 2011

I just refinanced using "123 Mortgage Refi" and went from a 5.5/20yr to a 3.25/15yr. Monthly payments went down by about $100 but overall savings over the life of the loan are over $60,000. Definitely worth it in my opinion.

mark Head of CA 4:40AM March 08, 2011

Hmm, disagree with most of the article and it is based on an empty mind.
1) Realestate IS always a good investment when looked at as a long-term investment. Problem with people that found themselves in trouble is they took to big of a loan and/or wrap themselves up in the idea of flipping. It is not a get rich quick scheme. Stupidity will always fail.
2) Sure, why not avoid credit cards? If you have the mindset of not taking on debt in the first place, you don't need them for a loan. Save your money and buy your car and home with cash. It is called planning. If your income is low and this will take to long, change your income. You certainly cant afford the loan in the first place.
3) i agree with this assessment. After all, no debt is a good loan. There is no such thing unless you wish to listen to the folks in the industry that rely on people taking out loans to pay their bills.
4) you should never borrow from your 401K period. You lose your job and you have about 60 days to pay it back in full or be penalized. To risky period and it is nonsense to nelieve otherwise unless you like rolling the dice
5) not sure what to make of the comments here. If someone is taking a HE loan to payoff their credit cards, don't you think they are already living a debt fueled lifestyle? Um duh! I don't agree with taking out loans to pay off other ones, so I agree somewhat with the comment. Best to try and negotiate with CC lender. May be best to lie in the bed you made for yourself. How else are you going to learn?

Bruce of NC 8:49PM March 07, 2011