A white picket fence surrounding a house with 2.4 children, a dog, a cat, a station wagon. This is the American dream. But owning your own home might not be so dreamy as you approach retirement. In fact, since 1990 homeownership has been decreasing among 55- to 64-year-olds, a trend which experts suggest is likely […]
As a homeowner, one of your top priorities is protecting your most valuable asset: your home. Homeowners insurance plays a vital role in safeguarding your property, belongings, and financial well-being. While sticking with the same insurance provider may seem convenient, it’s essential to periodically evaluate your options. Switching insurance providers can offer significant benefits and […]
Some see early retirement as the kiss of death, but one study has shown this to be a myth. Retiring early can actually lengthen your life. A 2017 study published in the Journal of Health Economics found that for men over 54, retiring early meant that they were 42% less likely to die during the following five […]
According to Experian, one of the three major credit bureaus, an individual’s credit score measures his or her likelihood of repaying debts. Credit scores range between 300 and 850 points. Higher credit scores indicate that a borrower is less risky and more likely to make on-time payments. In many cases, credit scores are used to determine […]
Inflation is a constant threat to the economy. In peak inflationary times, its effect on the cost of living can be brutal. You can expect an increase in the price of your essentials, including food and groceries when demand significantly exceeds supply. With a family to feed on a limited income, you have no option […]
During a financial challenge, a hardship loan may be an option you should explore. A hardship loan can be any money that is borrowed during difficult times, including a personal loan, equity financing, or a loan from a family member or friend. There are safe ways to borrow; however, taking on debt may add to […]
Applying for a credit card can be a scary process. The greatest challenge comes not from making the wrong decision, but from being unaware of all the information. Then you must take into consideration all the different credit card companies and all the different rewards they offer. Choosing a credit card can quickly become overwhelming. […]
Put simply, a 401(k) plan is an employer-sponsored retirement savings plan. Through these plans, you can save money towards retirement on a tax-deferred basis, which means you don’t pay federal or state income taxes on your savings or their investment earnings, until you withdraw the money at retirement. Since most people’s taxable income is lower […]
The advantages of Social Security are numerous, but one that people don’t often realize is its flexibility. By changing the age at which you start claiming retirement benefits, you can greatly alter the amount you receive each month. Age 62 is the earliest you can claim, but the longer you wait the fatter the checks will […]
When you are young and actively employed there is no way to predict exactly when you may finally retire, what will be your retirement savings, and how much money you will need for what purposes. While it is comforting to imagine that you have a fairly accurate answer to these questions, chances are you may […]
