Some Financial-Related Items On My Mind: Paying Off A Mortgage and Parked Domains
My mind is always going. I’m constantly thinking about how can I make more money in easier ways and enjoy a financially free life. Usually, I research things and determine a result regarding certain items before I actually tell others or blog about it. Well, today, I feel like just rambling straight from my head about a couple things that have me up at night thinking about.
Paying Off A Home Mortgage
I was recently presented with a rather interesting solution that provides an individual with an optimum solution to quickly pay off his home mortgage. I will be writing a review of this solution in a future post, but my point in bringing it up now is the strategy behind paying off your mortgage. It is quite the debate as to whether you should use cash to pay off your mortgage or invest the cash hoping for a higher rate of return.
It’s pretty compelling to have the opportunity to owe nothing on the house you live in. Perhaps, if you move to another house, you have a piece of real estate paid off and can collect nice cash flowing rental income from it.
Obviously, the argument is that you can do better than paying off a 6% mortgage by earning a historical approximate 10% return from stocks. But 10% is not guaranteed and the 6% is. Plus the peace of mind from no debt is an added bonus. Perhaps, in an over-leveraged society, the mortgage route isn’t such a bad option.
Does anybody have any good information that provides a real and solid comparison between the two strategies? Information that provides more than just the basic analysis and comparison that I stated above? Would love to read and learn more surrounding this potential financial strategy.
Here is a great source of information regarding this topic: http://truthfullending.com/paying-off-your-mortgage/
Generating Passive Income From Parked Domains
I’ve been reading more about possibly generating passive income from parked domains. This is truly passive income since it requires minimal setup work and pretty much no work to maintain.
While I understand the income from these sites should be pretty minimal, if there is indeed profit, then couldn’t you simply ramp up a large number of these sites and make a few hundred bucks a month? Any of my readers doing this? Would love to get some feedback.
As always, I’m looking for ways to generate some passive income because I desire a lifestyle where I’m not tied to a desk, am able to spend more of my time with the people in my life and doing the things I want to be doing. This is a higher priority for me than a large bank account!
Good luck to all who are pushing for the same things. I would love to hear your stories.