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The Old Homestead Warm Cancun greetings to all! Over the last few months I have received comments and questions regarding my ridiculously high 5.875% mortgage rate. Currently, I owe $59,568 on the mortgage; I also owe around $21,500 on our HELOC (home equity line of credit). Many people recommended that I refinance the balance to a lower rate; others suggested that I pay off the mortgage by making additional payments to the principal. These are great suggestions, but I have my own plan to slay the beast. Here is a brief look at my financial ball and chain in financial calculator format: PV = $59,568 (originally borrowed $125,000 on $157,000 home) I = 5.875% PMT = $811 (including additional principal payment) N = 7.5 years / 90 months (originally a 30 year loan) FV = $0 (that's the goal of every homeowner, right?) Refinancing I have looked into refinancing my mortgage, but I have not been impressed with the options. Sure, I could get a lower rate, BUT I do not w...

Mexico or Bust! Greetings from Cancun, Mexico to all my loyal Millionaire Educator readers (Mom and Honest Abe)!  Two weeks ago I bought one-way airline tickets from AirTran for the Atlanta to Cancun flight.  Two days later my wife, son and I landed in Cancun and began our family adventure.   We decided to come to Mexico for two main reasons.  First, my wife and I both agreed that an extended family adventure would benefit all of us.  We could all work on our Spanish, see lots of interesting sites, hit the beaches, and escape the suddenly cold Georgia winter.  Second, we also wanted to see what it would be like to live in Cancun as a local, not a tourist.       Let's face it, most U.S. news pertaining to Mexico is very negative.   Friends and relatives advised us not to go, and my wife and I had our own reservations.  We agreed that if we didn't like it, we would return home after two weeks.  So far, we have really enjoyed our trip, and we plan on staying for two full months. A...