Keep the distinction between financial freedom and debt freedom in your mind. If you are financially free, you can pay your mortgage without going to work. If you are only debt free, you still need to work in order to eat and pay property taxes, as a minimum.

If assets are supposed to generate cash flow, then equity in your house fails this test. It just lays around. This is why I always counsel people to create a mortgage plan that will support their ability to put their money where it can be best used – that usually means not striving to become debt free.

If you just blindly follow the banks’ advice to pay the mortgage ASAP, this usually helps the banks more than you. Let the banks look after themselves.

If you know why you are paying off your mortgage, and what are you giving up to do so, I have no argument against that path.

 People who write their goals down tend to meet them. That's why I wrote this  planning guide -- to get you started. The one-page planning worksheet at the end of the guide will help you stay focused.

I asked two local CPA firms to share with me some end of year tax planning tips. I hope you can find some money saving ideas here. I thank Toler, Bly & Associates, CPA, PLLC in Matthews, NC and James L Gibson, CPA, PC in Charlotte, NC for their professionalism.

Some tax code changes and stimulus bills are different this year, so while some year-end strategies are evergreen, these are not.

Think you will get a big refund? Create a plan now for the best use for that money. Build that emergency fund, pay off debt, or fund an IRA or college savings.

January's a great time to review your mortgage and make prudent adjustments.  Let's schedule your free annual mortgage checkup.

I have a commitment to read at least two hours of professional material each week. It's hard to beat  this inspirational classic, "Acres of Diamond," first published in 1890.

Written by Russell H.Conwell, the founder of Temple University, this work originated as a speech which Cornwell delivered over 6,000 times around the world. Conwell's capacity to establish Temple University and his other civic projects largely derived from the income that he earned from this speech. In this, he showed us how to use wealth wisely.

I hope you'll enjoy the download as my year-end / new-year gift.