Why You Should Pay Down Your Mortgage

Many in the financial services industry will advise you not to pay down your mortgage. I can’t disagree more. Why? Because a mortgage is essentially the inverse of a bond: Mortgage: borrowed money where you pay someone principal and interest. Bond: money you lend where the borrower pays you principal and interest.   It’s that simple. For example, the high-quality bonds I wrote about here recently, or bank certificates of deposit (CDs), will pay you roughly 2 percent. The average mortgage rate is about 4 percent. My conclusion …

Compression Socks Are Now … Hip?

These definitely are not your grandma’s compression stockings. Suddenly, those tight, thick hose that help improve blood circulation are the newest hip-and-healthy trend. My grandma, who wore compression hose back in the day, would be stunned to hear that companies are now making compression tights and knee-high socks in chic colors and fun patterns to appeal to both fashion-conscious travelers and hard-core runners. >> 23 Fabulous and Famous Grandmas Here’s the New York Times on the trend among fashionistas: In preparation …

This Week in Boomer History: ‘Sesame Street’ … ‘Catch-22’

Notable events from our shared experience Published Nov. 10, 1961, Joseph Heller’s antiwar novel Catch-22 over the years spawns a catchphrase for paradoxical futility. Alan Arkin, Martin Balsam, Richard Benjamin and Art Garfunkel star in a 1970 movie version. Carl Stokes becomes the first black mayor of a major American city when he takes the reins in Cleveland on Nov. 13, 1967. After two terms, he becomes New York City’s first African American TV news anchorman in 1972. >> 10 Essential Boomer Books On Nov. 10, …

Stand Guard Against Veterans Scams

As we honor our former military personnel, Veterans Day is also a good time to recognize the year-round attempts to defraud them and to take advantage of those who appreciate their sacrifice and service. In some scams, veterans are specifically targeted. In others, fraudsters impersonate active-duty or former soldiers or claim to be working on their behalf to con patriotic civilians. A rundown of common schemes: Charity scams: Bogus charities that claim to benefit veterans are also among the most successful schemes, …

Your Biggest Gripe: Debt Collectors!

The Consumer Financial Protection Bureau gets more complaints from older Americans about debt collectors than any other issue. According to a report released Wednesday by the CFPB’s Office of Older Americans, the agency received 8,700 debt collection complaints in the past 15 months. Consumers complained that debt collectors: – Try to collect the debts of dead relatives — even years after the estate has been settled. – Threaten to garnish Social Security and other federal benefits, which they can’t legally do. – Attempt …

11 Things We Didn’t Know Last Week

News, discoveries and … fun 1. For $50,000, the Dallas Zoo will sell you naming rights for a baby giraffe. (Learn more at CBS DFW) 2. More than $2 billion in lottery prizes went unclaimed in 2013. (Learn more at Yahoo! Finance) 3. Some male hummingbirds use their sharp, curved beaks to stab rivals’ throats. (Learn more at University of Connecticut) >>  Best Small Towns in America 4. Carlos Santana became a guitarist because his first instrument, the violin, sounded like an “alley …