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Beware Taking On Debt

December 24, 2012 by  

Dear Bob,

I am at a financial CROSSROAD and am going “nuts” trying to figure out what the best way to go may be. 

I have a second mortgage on my home of approx. $44,000 and (at the same time) I have a total of about $43,000 (spread across 3 different investments: Merrill Edge, Charles Schwab, and an IRA at Chase Morgan).    Do I cash everything in and pay the second mortgage, …… or just leave everything where it is?

Another idea I had was to purchase any type of 2-bdrm sound structure with a little bit of land (no matter how little)… “down South”… maybe in North Carolina or Tennessee.  The prices down there seem to be EXTREMELY low these days.   Why?  In case the country SPLITS, I see the South becoming its own country… again!   And… it looks like most of the conservatives may just be in the South.  I don’t like the heat down there, but I definitely do not want to end being surrounded by communist liberals….no matter how mild the weather may be.

I REALLY hope I won’t get “….sorry, but I cannot give you financial advise”… back.  I’m just an old woman, by myself  trying desperately to get somewhat ready for the upcoming disaster (financial, social, and every other way one can think of).    One would have to be blind not to see (and feel) that something terrible is coming.

I TRULY hope you can give me some direction on this.   The above  is ALL I have in the world and don’t want to do the wrong thing, especially “now”. 

Cordially

Mrs. S. Winberry

Dear Mrs. Winberry,

I am sorry but the lawyers will not allow me to give individual financial advice. I will say this: You should be leery of taking on more debt.

Best wishes,

Bob

Bob Livingston

founder of Personal Liberty Digest™, is an ultra-conservative American author and editor of The Bob Livingston Letter™, in circulation since 1969. Bob has devoted much of his life to research and the quest for truth on a variety of subjects. Bob specializes in health issues such as nutritional supplements and alternatives to drugs, as well as issues of privacy (both personal and financial), asset protection and the preservation of freedom.

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