Financial Fellow

Written by J.P. Wicklein
     Whether you’re looking to create wealth, or just add a few bucks to your bottom line, I’d suggest exploring sources of residual income. 
What is residual income?
     Residual income is money you earn over and over again without performing any work.  A common example of residual income is the interest paid [...]

[Read more →]

Written by J.P. Wicklein

This is the 100^th post since FinancialFellow.com was launched in October 2008. In light of the milestone I thought it fitting to call attention to my 5 favorite articles. Some articles offer my perspective on retirement savings, others provide suggestions on how to save, or earn, hundreds of dollars with minimal effort. Enjoy!

10% Annual Return is Unrealistic When discussing how much money you will have at retirement age many financial articles assume that you will attain an average annual return of around 10%. This assumption is misleading for two reasons…

[Read more →]

Written by J.P. Wicklein

I’ve been thinking about buying some land recently. I’d like to construct a small home on the land and grow food. My ideal slice of land is at least 10 acres, farmable, wooded, and has a pond or stream on it. I don’t plan on moving there. Rather, I’d like to have a place within a 3 hour drive that I can escape to periodically.

[Read more →]

Written by J.P. Wicklein

     Too often Americans stretch themselves to buy the nicest house they can qualify for, go out of their way to drive a luxury car, or borrow to the hilt just to keep up with the Jones’s. In the process these people place themselves in a situation with few options. They can’t afford to lose their job, stay home with kids, change careers, or retire early. Often, they find themselves worrying or arguing about money. I don’t want to go down that road. I’m willing to forgo many of the trappings of an upper middle class life in exchange for the freedom to make decisions that aren’t driven by money. Here’s how I plan to do it:

[Read more →]

Written by J.P. Wicklein

     Buying a home will require you to make a myriad of decisions.  One of the most significant questions you’ll need to answer is whether to get a fixed rate mortgage or an adjustable rate mortgage (ARM). The answer to this question generally depends on two factors: 1) What’s the difference in interest rates between the ARM and the fixed rate? 2) How long do you plan to stay in the home you’ll be buying?

[Read more →]

Written by J.P. Wicklein

     I closed on the sale of my home late last week (a one bedroom, high-rise condominium in Chicago). The total market time from listing to closing was just over 5 months. I unloaded it in the worst real estate market in years, during the winter, and at a profit. Here’s how I did it:

[Read more →]

Written by J.P. Wicklein

In light of my article on Tips to Profit from Residential Real Estate I thought it would be interesting to present an article on why you should rent your home instead of buying it. Here are some other financial tidbits I came across this week:

[Read more →]

Written by J.P. Wicklein

     Although the recession is wreaking havoc with the stock market it has created a silver lining for some investors: Real estate is cheap and interest rates are low. For those cultivating a passion for real estate investing now may be a great time to acquire rental property. Here are 10 tips that will prove helpful should you decide to invest in residential real estate:

[Read more →]

Written by J.P. Wicklein

     I just moved in with my girlfriend.  A couple days prior I accepted an offer on my condo from a potential buyer (more on that in a future post). As soon as the sale of my condo is finalized I’ll begin splitting the cost of my girlfriend’s mortgage with her. For the most part we plan to divide our living expenses right down the middle.

[Read more →]

Written by J.P. Wicklein

     The American Recovery and Investment Act of 2009 was passed by both houses of Congress on Friday night. The last remaining step is for President Obama to sign the bill into law. After negotiations between the House and Senate, the homebuyer’s tax credit was set at $8,000. Further, availability of the tax credit was reduced. Here are the details:

[Read more →]