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3 steps to avoid your own real estate fiscal cliff

Mood of the Market

As I am writing this, our nation's political leaders are engaged in a fever-pitch debate that will determine whether or, rather, how abruptly we will go over the so-called fiscal cliff of expiring tax cuts and new spending cuts that will cause some level of financial indigestion for virtually all American households. Regardless of the outcome of those debates, I submit that there is a more pressing issue at hand. Many Americans play chicken with the borderlines of their own fiscal cliffs (money dramas, dilemmas, conundra and Catch-22s of their own making) on a constant basis. We create these cliffs by denying the realities of our money matters, avoiding what we fear will be the boring, impossible or frightening work of planning and investing for the future, and by holding fast to inaccurate and self-defeating money beliefs and behaviors. And as a result, the average American household is inclined to overspend, overdebt, undersave and underprepare for the financial future....