Quotes of the Day

The problem with persistent and recurrent depression is not "getting sad" in the first place. Sadness is a natural mind-state, an inherent part of being human. It is neither realistic nor desirable to imagine that we can or should get rid of it. The problem is what happens next, immediately after the sadness comes. The problem is not the sadness itself, but how our minds react to the sadness. [2007] - Mark Williams

Of all the relationships you will build, banking relationships are the most important. When you have four or fewer properties, the Federal Deposit Insurance Corporation (FDIC) views you as a passive investor and it classifies your loans differently than it does after you have five or more. At this level, your loans become investor loans and are viewed as having higher risk than the first four. A good rule of thumb is to maintain enough cash to cover 3 to 6 months of expenses even if you have no income. [2004] - Mike Summey

WWOOF is an international organization that offers volunteers room and board in exchange for working on organic, sustainable farms. You could also try helpx.net. They list hosts around the world who are willing to trade food and accommodation in exchange for work on community projects and organic farms, at homestays, in backpacker hostels, and on sailing boats. Workaway.info offers similar opportunities for people around the world. You could also house-sit. Trustedhousesitters.com is one of the most established sites for matching up house-sitters and houses. Other sites you could look at are nomador.com, mindmyhouse.com, and housecarers.com. [2022] - Andrew Hallam

I firmly believe that interest rates will stay low for the foreseeable future, but I don't do my long-term financial projections based on those low numbers. I calculate a worst-case scenario, where interest rates rise dramatically (using a 3 percent stress test). Only if my investments will still cover the cost of borrowing, after accounting for a sharp rise in rates, will I make an investment with borrowed funds. Remember that it's actually the after-tax cost of borrowing that matters. Consider this: if you're in the 50 percent tax bracket, even a rise of interest rates to 6 percent would be equivalent to an after-tax cost of borrowing of 3 percent because you can deduct half of your interest expense in taxes. [2017] - Calum Ross

Top people are usually willing to help other people who want to succeed. [2004] - Brian Tracy