1 of 10

Write now Article Tools

Page 2 of 2

part in sending our country into an economic tailspin. The really sad thing is the people targeted in these kinds of mortgages is the middle income and lower income families. These "rules" were put into place to help people in these categories to afford homes that otherwise they could not afford to pay for. It brought monthly payments down so the little guy could afford it (or so it seemed)

The number one thing to look for when looking at a mortgage document is the "Truth In Lending" page that has four boxes across the top. To find out if you have a fixed mortgage or one with some kind of crazy "rule" to it, you should look for the box with the payment amounts. If there is more than the monthly payment and last payment BEWARE! That is the quickest way to see what kind of mortgage you are getting into.

Investment brokers tend to not look at you if you do not have at least $100,000 at your fingertips and ready to invest with them. Very few companies out there are willing to work with the 80% of people that fit into the category of Middle America. By looking only for those guys and gals with the big bucks to invest is the first thing that should send off the Greed Alarm in your head when you go to invest. Being educated on the differences of stocks, bonds, and mutual funds would be of great importance to any investor.

There are four major things to look for when you are purchasing a life insurance policy.

1. Is it for life? Or is it only for the term that you need it (until you are self-insured and have enough money accumulated that paying premiums are no longer logical)?

2. Are there investment attachments that allow you to borrow your own money and repay it for a cost of interest or lessening your death benefit? Or is it pure insurance with no attachments?

3. What happens for the first few years of your policy? Are your premiums put into an account and held until you have paid enough to cover the commissions and fees of the agent and company? Or is your policy effective immediately upon payment of your first premium?

4. Who gets your money when you die? And how much do they get? Do they get both the accumulated amount in your "investment" and the noted death benefit? Do they only get the death benefit? Or do they get a death benefit from the insurance company and also become beneficiaries of an investment?

When looking for a policy, make sure to ask these questions and make the best decision for your situation. This will help to keep your premiums low and keep the greedy sales people from taking your hard earned money.

Learn more about this author, Rella Ingram.
Click here to send this author comments or questions.

• << previous page
• 1
• 2

Add your voice

Know something about The money system: Greed prevails?
We want to hear your view. Write now!