RG 131 – Mastering your Money Personality with Jordan Goodman

About Jordan

  • Jordan has written 13 books
  • Jordan has a masters in journalism
  • Jordan used to write for Money Magazine among other publications

Nuts and bolts

Jordan Goodman has spent 40 years on a single mission, he is America’s Money Answer Man and he aims to help Americans do better with their personal finances. Previously he has worked at Money Magazine as editorial staff and as a Wall Street correspondent. He is frequently on the TV and radio talking about personal finance and investing. He has worked or been featured on CNN, CNBC and the evening news. Jordan made his first dollar as a child delivering newspapers and selling them on the Nantucket Ferry to a captured market. By 15 he was writing weekly for a newspaper and working on a radio station getting involved in journalism even though he couldn’t drive yet. He went to college with a huge portfolio and spend his Junior year at the LSE and did journalism extra curriculars in London as well. He attended Columbia School of Journalism for his Masters and then went to work at Money Magazine. He wrote his first book in 1983 and has since written 13 books.

Jordan makes the distinction between good and bad debt because despite popular opinion not all debt is bad. This is the difference between debt on an asset and debt on a credit card. Good debt – also known as positive arbitrage – can allow you to pay less then you can be earning on the same money. For example a home equity loan of credit, ie a loan against a house, at less than prime rate if you borrow at 5% and earn at 8% then it’s good debt giving a higher rate of return. There’s also the option to do mortgage equity optimization which allows you to pay off a full 30 year mortgage in 5-7 years under the existing level of income. Home equity line of credit is another option for making your debt work for you but this requires you to have equity in your home, a good credit score and positive cash flow.

Interest rates have been climbing in the US but the banks haven’t passed these benefits onto savers and their deposits. A better passive way of earning income from real estate is through Secured Real Estate Fund (website) where you can earn up to 8% on your yearly income through monthly checks. It’s a regulation A+ crowdfunding investment fund for real estate. Jordan encourages everyone to get started today at moneyanswers.com and get into good debt habits by setting up an automatic investment account.

Top Tips

  • Most important habit – Watching the markets
  • Most influential person – T. Harv Eker
  • Most important tool – Microsoft Outlook
  • Most educational failure – In 1992 he wrote a book with his radio co-host who ended up being taken down by the SEC

CONTACT go.moneyanswers.com/investingus

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