Mortgage Plan Review, E-Commerce Booming, and Candidates Take on Social Security

December 10, 2007

2008 is going to be a big year for the Money Guy Show. Several active Money Guy listeners have stepped up to help take the show to the next level. The details are not to the point that I am ready to share, but prepare yourself for a big upgrade in 2008.

Today’s show pretty much fell into my lap because of all the dramatic current events that are impacting the world of personal finance and the financial markets. Many of you have asked me to provide more input on current financial events, and if you are one of those listeners you will get more than your fill with this show.

Let’s jump into this week’s topics of discussion:

Battle Lines Form Over Mortgage Plan by Michael M. Phillips, Serena Ng, and John D. McKinnon with the Wall Street Journal (click here for the link, but understand that unless you subscribe to the site you will not get the entire article). I think what the administration is doing has good intentions, but I do worry about the unintended consequences of the government getting involved with the poor decisions of individuals and banks.

Who Qualifies for Help, And What Qualifies as Subprime? by Ruth Wilson from the Wall Street Journal (click here for the link, but it has the same limitations as the previous article).

If you are looking for a reason as to why the government has taken such an interest in the Subprime mess then check out the article that Ruth Simon from the Wall Street Journal did at the end of November titled, "Rising Rates to Worsen Subprime Mess" (click here for link). Since some of you may not subscribe to the Wall Street Journal… I will let you in on the amazing little tidbit that most of the defaulted home loans are currently due to loose lending practices of banks (to people who could not afford to pay for the loans). The tidal wave of variable loans resetting to higher rates has not even hit its stride yet (2008 will have over $362 billion (with a “B”) worth of adjustable-rate subprime mortgages adjusting to higher rates).

How about a little bit of good news?!

Retail Holiday E-Commerce Spending Reaches $14 Billion, Up 17 Percent Versus Last Year (click here for link)

Ok for the last article that I cover in today’s show I want to make sure that I do not lose any listeners or readers, so bear with a brief disclaimer. I do not want the Money Guy show to be a political show. I want it to focus on what is best for your personal finances, but sometimes political items need to be covered because they directly impact your wallet. 2008 is going to be an election year, so I wanted to share what each of the leading Presidential Candidates take was on Social Security reform. I did not slant my analysis toward any one party or candidate. I based my entire discussion on the article from CNNmoney.com by Jeanne Sahadi titled, “The 3rd Rail: Candidates Take on Social Security.

I do not say it enough, but thank you for being such an active listening audience. Without your emails, iTunes feedback, and consistent support this show could not have grown as much as it has over the last two years. Please keep up the great work of letting your friends and family know about our show.




Most Recent Episodes

Financial Advisors React to Money Advice from ChatGPT

Will ChatGPT be your new financial advisor? In this react episode, we’ll break down some money advice from ChatGPT and compare it to our own thoughts and opinions. Enjoy the Show? Sign up for the Financial Order of Operation (FOO) Online Course! Sign up for our Know...

Financial Planning 101 (By Age) 2023 Edition

Throughout every decade, there are different areas of your financial life that come in and out of focus. In this episode, we'll discuss what you need to focus on by age, pitfalls to watch out for, and how to know you're doing it right. In this episode, you'll learn:...

Is the 2023 Housing Crash Around the Corner?

Housing prices skyrocketed after the pandemic to all-time highs, and mortgage rates have more than doubled since 2020. Homes are harder to purchase for more Americans, which means it’s more important than ever to make sure you are ready to buy before purchasing. In...

Watch This Before Rebalancing Your Investment Portfolio!

85% of Americans don’t rebalance their 401(k). Are they making a huge mistake? In this episode, we’ll discuss the “why” behind rebalancing, how to do it, and the data on whether or not rebalancing can increase your return. In this episode, you’ll learn: What...

Don’t Make This HUGE 401(k) Mistake!

Americans are making a HUGE mistake in their 401(k) that could cost them thousands by retirement. We’ll talk about why this is happening and how you can avoid making the same mistake in this Q&A episode! For more information on how to make the most out of every...

Alex Hormozi’s Top Money Advice! (Financial Advisors React)

In this episode, we react to Alex Hormozi's financial advice. Enjoy the Show? Sign up for the Financial Order of Operation (FOO) Online Course! Sign up for our Know Your Number Course! Check out our Net Worth Tool! Get FREE downloads full of financial advice from...

Everything You Need to Know About Finances in Your 20s

In this episode, we discuss everything you need to know about finances in your twenties. In this episode, you’ll learn: The top financial advice for your twenties How to start building wealth and the steps you should take Enjoy the Show? Sign up for the Financial...

The Most Valuable Asset in Building Wealth!

This episode will show you how to maximize the most valuable resource you have - starting right at this moment. What is it, you may ask? It’s TIME. If you give your money time to grow, you’ll be amazed at how much your dollars can become - it’s incredible! How wild is...