 Money Mastery Principle 5
teaches that the rules are always changing. With the new tax changes
that will affect Roth IRAs, it's more important than ever to know how
those changes could affect the decisions you will make about retirement
and how the changes could provide important money-saving tips that
could affect your future:
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This e-mail expression is just another reason why I continue coaching!
Bob & Dorina C. (New York):
Thanks to the Money Mastery® system, we now are following the right
path to a much more secure financial future. We have learned a great
deal about ourselves financially as well as emotionally thanks to you.
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Peter and I know the Money Mastery Principles bless people's lives.
But when we hear just how it helps our clients, I can't resist
sharing. I have used only the first name to protect privacy.
Birk P. (Nebraska)
All of my married life I have spent month after month just barely
getting by. My wife and I have come a long way over the years and we
now have a family of seven with a moderately comfortable lifestyle.
Yet it seems that every month the money is just a little too tight.
The credit cards are always tempting us with another big ticket
purchase.
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Peter and I get these kinds of e-mails all the time, where our clients
share their experience in applying the 10 Principles of the Money
Mastery® program and how it has changed their life. To protect
privacy, I have only included the first name and initial of the last
name:
From Agnes B. (Iowa)
As a homeowner living paycheck-to-paycheck, only home repairs that
were deemed an emergency were fixed in a timely manner (and only after
every home remedy was exhausted). I have been maneuvering for years
around buckets under leaking sinks and bathtubs where water flows from
the shower and tub faucets, simultaneously.
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 When settling debt on a home or credit card, you need to know the rules.
Just because you are able to pay less to a lender, they can still send
you a tax form indicating the difference in what you owed and the
actual settled amount and declare it to be 1099 income. This
difference is taxable!
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 I stumbled on an article the other day from the New York Times on Fannie Mae and began reading it. Suddenly
in the middle of it I realized I was reading a reprint of an article by
Steven Holmes from 1999. I couldn’t help but be chilled by some of
what I read about the financial problems the mortgage industry
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I read Peter's blog with interest and thought I'd add my own take on the American millionaire mindset....
Did you know that the average wealthy American has $1.4 million in
assets, and $275,000 in debts, for a net worth of $1.1 million?
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 vFew people today consider hanging on to a house or a job for two or
three decades…but that’s exactly how some of the nation’s millionaires
became so wealthy. They bought a house 30 years previous and hung onto
it until it appreciated into a half a million dollar asset, then sold
it.
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The new Credit Card Act of 2009 that was signed by Obama, immediately
sent the big banks into a tizzy, changing their interest rates, fees,
and terms so that they could maximize profits before the bill took
effect. The result? Many credit card interest rates have now
skyrocketed to well over 29%.
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 There’s nothing more disturbing to me that watching some of my clients
feel obligated to take care of every financial need their child has.
I’m not surprised by this behavior, however, because I think it stems
from a cultural expectation that began with the Baby Boomer generation
around the end of World War II. It’s my belief that young couples who
began having childrenv
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