Today, most mortgages have terms that extend up to 30 years or more. While this makes the monthly payments affordable, decades of interest payments can add up to a substantial sum. A common question among homeowners is whether they should pay off their mortgage early. It can be a tricky question to answer.
A question that lurks in everyone’s mind is, “How much money do I need to retire?” While it’s a simple question, the answer is anything but that. Unfortunately, there is no magic number or one-size-fits-all solution. Everyone’s number will vary due to a multitude of factors. But several methodologies can help you determine a ballpark figure to assist with planning.
Estate planning is one of the most considerate actions you can take on behalf of your loved ones. It helps ensure your final wishes are enacted, your assets are distributed as you intended, and your children or pets are placed in the care of those you trust. And, thanks to technology, the process is easier than ever.
Starting the new year off on the right financial track is a wonderful feeling. But to get there, you’ll need to put aside a little time to wrap up the current year and start preparing for the next. Here’s a checklist of ten items you should review as the year comes to an end.
The greatest challenge with retirement is that the road to get there is long. With a goal so far on the horizon and the multitude of obstacles life throws at you along the way, it’s easy to become distracted and stray from your retirement plan. Regardless of where you stand right now, it’s wise to review the mistakes others made before you – allowing you to avoid them yourself.
While there are many avenues to invest money in the markets today, the two most popular are either doing it yourself or with the help of a financial advisor. To bridge the gap, fintech and investment companies are creating a new way to invest through sophisticated programs called robo-advisors.
Not everyone is a financial guru when it comes to investing or managing long-term retirement plans. Even if you have the knowledge and insight, keeping up with the latest rules and economic trends can become exhausting and time-consuming, ultimately causing you to miss out on opportunities.
Creating a will, estate planning, and maintaining a life insurance policy are all wise financial moves. However, there is a very simple way to ensure your funds pass directly to your loved ones. It’s called a beneficiary.
When working with a financial advisor for your retirement planning, they may suggest that you open a Health Savings Account (HSA). But what exactly is a health savings account, and how can it benefit you – both in retirement and for health-related expenses?
Downsizing. It’s something you may eventually decide to do. Perhaps your children have left the nest and are raising families of their own, and you no longer need the space. You may even decide you’d like to live closer to your grandchildren, so you can watch them grow.
