Today’s title is generally attributed to Mort Sahl, America’s first widely televised stand-up comedian. He was well known for his commentaries on the times but before he became famous, he did, in fact, wash and sell cars for a living. The phrase came to mind recently when I saw actor Tom Selleck promoting reverse mortgages on TV.
Welcome back to my New Year’s thoughts about financial and life planning.
Last week I discussed insurance but didn’t have enough space to mention long term care.
Home ownership has always played a significant role in the American Dream. Especially among those who watched people they knew lose homes during the Depression, paying off the mortgage became an almost universal aspiration. The lesson learned was that paying rent was just wasting money; the best approach was to buy your home and pay it off as soon as possible.