Getting married is exciting, but it brings many challenges. One such challenge that you and your spouse will have to face is how to merge your finances. Planning carefully and communicating clearly are important, because the financial decisions that you make now can have a lasting impact on your future.
Continue reading “Merging Your Money When You Marry”
Even in normal times, it can be challenging for families to cover college expenses without borrowing money and/or risking their own retirement security. For the 2019-2020 academic year, the cost of in-state tuition, fees, room, and board at a four-year public college averaged $21,950, and the total for a private college approached $50,000.1
Continue reading “College Disrupted: Students Face High Costs and Pandemic Impact”
There’s no doubt about it–owning a home is an exciting prospect. After all, you’ve always dreamed of having a place that you could truly call your own. But buying a home can be stressful, especially when you’re buying one for the first time. Fortunately, knowing what to expect can make it a lot easier.
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Are you one of the many retirement account holders who took a Required Minimum Distribution (RMD) this year? If so, you may want to consider reducing your income by paying back those distributions, as the requirement for taking them has been waived this year. There are some essential details to keep in mind, however. Here’s what you need to know.
Continue reading “The 2020 RMD Reversal Deadline Is Almost Here”
On July 16, mortgage giant Freddie Mac announced that the average interest rate for a 30-year home loan had fallen to 2.98%. In addition, the average interest rate for a 15-year home loan had declined to 2.48%.1
A 30-year mortgage at less than 3% interest? A 15-year mortgage at less than 2.5% interest? These lows were historic milestones, unseen in the 49 years of Freddie’s weekly surveys. It’s unclear how long this low-rate environment may persist.1
Are you considering refinancing your mortgage? Keep in mind that just two summers ago, the average interest rate on a 15-year, fixed-rate mortgage hovered around 4%, while the 30-year was in the vicinity of 4.5%.2
Continue reading “Should You Consider Refinancing Your Mortgage?”
Whether you want to leave work at 62, 67, or 72, claiming the retirement benefits you are entitled to by federal law is no casual decision. You will want to consider a few key factors first.
Continue reading “Before You Claim Social Security”
Given the threat of COVID-19, seniors today may be considering their extended care alternatives with extra caution.1
In addition to health factors, the cost can be an issue. According to Genworth’s 2020 Cost of Care Survey, the median annual cost of a semi-private room in a nursing home is now $90,000. A single-occupancy room may cost over $100,000 a year.1
Continue reading “Eldercare Choices in the COVID-19 Era”
Why sell shares when you can gift them? If you have appreciated stocks in your portfolio, you might want to consider donating those shares to charity rather than selling them.
Continue reading “Making a Charitable Contribution”
We all know the value of a good credit score. We all try to maintain one. Sometimes, though, life throws us a financial curveball and that score declines. What steps can we take to repair it?
Continue reading “Ways to Repair Your Credit Score”
Did you know that May is Disability Insurance Awareness Month? First started in 2007, the month of May was the first time that information about disability insurance became more easily accessible to millions of Americans. Recently, Disability Insurance Awareness Month has become a time in which many insurance professionals come together in order to help educate the public on the importance of disability insurance.1
Continue reading “May Is Disability Insurance Awareness Month”