I am not the typical piggintonian, but I can’t resist giving you a piece of advice.

First off all, don’t focus so much on building savings. I would say that you main focus should be avoiding debt. Seriously, debt is what will paralyze you financially. If you have any, work it down as best you can. Buy only used cars for cash, etc.

I see nothing wrong, when home values are lower, with buying a home with little or nothing down.

JS

I am not the typical piggintonian, but I can’t resist giving you a piece of advice.

First off all, don’t focus so much on building savings. I would say that you main focus should be avoiding debt. Seriously, debt is what will paralyze you financially. If you have any, work it down as best you can. Buy only used cars for cash, etc.

I see nothing wrong, when home values are lower, with buying a home with little or nothing down.

JS

Therby taking on huge amounts of debt? Didn’t you just contradict yourself? Mortgage debt is in fact debt, and is currently paralyzing millions of people right now.

A time to buy “Coming shortly” is a relative question – we are still probably a few years away from a bottom.

Does your 401k allow loans (they have to be repaid when you leave the job)?

If not, I believe that you can withdraw $10,000 from a tax-deferred account without penalty to buy a home.

Remember that people with wealth typically made it through ownership in businesses, whether their own small business, or in substantial stock holdings.

You might want to consider buying a business (which uses agents, escrow, etc.).

The most important difference is probably in quality of life (yes, you work more in a small business, but it’s for you, and it’s completely different. Really.).

There are many places to look at this, such as (get professional agent representation and advice):

http://www.bizben.com/

There are substantial numbers of professionals (lawyers, physicians, accountants, etc.) who now have their own (unrelated) businesses.

Maybe it’s an option to consider.

Also, it’s probably worth reading The Millionaire Next Door:

A time to buy “Coming shortly” is a relative question – we are still probably a few years away from a bottom.

Does your 401k allow loans (they have to be repaid when you leave the job)?

If not, I believe that you can withdraw $10,000 from a tax-deferred account without penalty to buy a home.

Remember that people with wealth typically made it through ownership in businesses, whether their own small business, or in substantial stock holdings.

You might want to consider buying a business (which uses agents, escrow, etc.).

The most important difference is probably in quality of life (yes, you work more in a small business, but it’s for you, and it’s completely different. Really.).

There are many places to look at this, such as (get professional agent representation and advice):

http://www.bizben.com/

There are substantial numbers of professionals (lawyers, physicians, accountants, etc.) who now have their own (unrelated) businesses.

Maybe it’s an option to consider.

Also, it’s probably worth reading The Millionaire Next Door:

Hi JES,

My thought is that if she times the market well — and doing that is tough I know — that she can pay the lowest possible price. Yes, that involves debt, but of a kind she seems interested in taking on secured debt within reason.

Looking at this from the perspective of a 50 year old, investing in property is the only thing that has ever substantially increased my net worth. I know that the era ahead is going to be tricky, but that is still how I see things.

When I was in my 30’s I had way too much unsecured debt. That was a nightmare.

JS

I can agree with you there. When I am convinced that we are near the bottom, I will likely get back in the game myself! Survey – what is the best business to start right now? I know, you should look to your skills set, use that as a guide etc. Disregarding that, what would be the best one for an average Joe to start cold?