With more than 95% of American workers currently covered by Social Security, there are some things about this massive retirement program that you should probably know. If you’re still in your forties or fifties, you can probably wait a few years to learn the intricacies of Social Security, but if you’ve recently entered your 6th decade on this planet, here are a few things you should be aware of: Your social security retirement age can...
If you’re currently in the market for a home, it will speed up the process considerably if you’re familiar with the various mortgage options available. Finding a mortgage that suits your current financial needs can be challenging, but understanding the various types of mortgages available and their requirements can make the process less challenging. Here are the most common types of mortgages, along with any specific requirements for each. Conventional Fixed Rate Mortgage A conventional...
Do you really know how much it will cost you to sell your home? Here is a breakdown of some of those costs. Agent Commission While everyone who has ever sold a home is aware of the cost of their listing agent, many people never sit down to figure out exactly what their real estate agent is owed when their house sells. For instance, if you currently owe $200,000 on your mortgage, and your home...
Whether you’re earning a six-figure salary or just out of college, creating and maintaining a budget is a must. Having a budget that you actually use can help keep spending under control, bolster your savings account, adequately plan for retirement, and keep debt at a manageable level. Creating the budget is actually the easy part. But how do you create a budget that you’ll actually use? One of the keys is your mindset. Stop looking...
Buying a house is one of the biggest, if not the biggest purchase you’ll make in your lifetime. Here are some tips and tricks for ensuring that the entire process is as stress-free as possible. Prior to starting your search, make sure you know how much house you can afford. It’s so easy to fall in love with a particular home, only to find out that you simply cannot afford the mortgage. To buy a...
If your kids are starting to enter the workforce, whether it’s a part-time job just for the summer or a full-time job after graduation, it’s essential they know how to practice healthy financial habits.
*This content is developed from sources believed to be providing accurate information. The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel. Neither...
Balance is seen as one of the keys to making the most of your investments. But what does a balanced portfolio look like?
Retirement can sneak up on you. At one time, it seemed like a lifetime away, now it may be just around the corner. At one time you planned on working forever, but now you can admit that the thought of retiring has its benefits. Perhaps you’ve found yourself daydreaming about a little cabin on a lake, or a small home in the mountains. You may have even entertained the notion of becoming an expatriate and...
If you’re trying to decide where to spend (or save) it, here are some ideas for how to make the most of your tax return.
If you’ve spent more than five minutes on a kid’s television network, you’ve seen just how inundated young kids are with commercials for everything from the latest gadget, to some dreadful snack that features something gooey and/or messy. It’s also safe to bet that many of these kids run to their parents, wanting to buy some or all of these items. It’s difficult, if not impossible for younger kids in particular to understand the dynamics...
When thinking about our physical health, it’s common to take a holistic approach. So why don’t we approach our financial health the same way?
