SOME INTERESTING FACTS:
“According to FINRA (Financial Industry Regulatory Authority) 30 percent of employed Americans earned money from work outside of their main employment.” But here’s the surprise about that. “They found the wealthier and more educated people were more likely to have side jobs.” (Journal of Financial Planning, Jan. 2020)
And, how about this one. “The JP Morgan Chase Institute found that ‘liquidity’ is a more useful predictor of mortgage default than home equity.” And what do mortgage lenders focus on; equity down payment. “Allowing borrowers to maintain the money in their bank instead of using it for a down payment helped them pay their mortgages and keep their loans in good standing. (Duh!) Borrowers who had savings equivalent to less than one monthly payment… defaulted five times more frequently than those with three to four months of mortgage payments in savings.” (Journal of Financial Planning, Jan. 2020)
No wonder your financial planner bugs you so much about having an emergency fund.
Those COVID-19 stimulus checks could start showing up any day now. (Coronavirus Aid Relief and Economic Security, or CARES Act). If your joint income was under $198,00 (or $99,000 for a single), you could soon receive a payment of as much as $1,200 per person ($500 per child) in your family. For those with incomes over $150,000 ($75,000 single) the checks are reduced by $5 for every $100 your income exceeds the lower limit.
Checks are slated to begin mailing out (or direct deposited) by April 24, based on income level. The lowest income individuals receive their payments first, with the top income level being paid as late as Sept. 4th. (Rocky Mengle - Kiplinger, April 3rd, 2020)
A final note: Student loan debt has now exceeded $1.6 trillion in the U.S. Clearly we have a crisis. If you don’t have a use for that stimulus check, you might think about contributing it to a 529 College Savings Plan for your kids or grandkids who are wondering how they will finance a college education when their time comes. You can call me for more information on that.
9 Facts About Social Security
There are things about Social Security that might surprise you.
Should You Ever Retire?
A growing number of Americans are pushing back the age at which they plan to retire. Or deciding not to retire at all.
Rightsizing for Retirement
What does your home really cost?
It's important to make sure your retirement strategy anticipates health-care expenses.
Workers 50+ may make contributions to their qualified retirement plans above the limits imposed on younger workers.
How to help determine life insurance needs to provide for your family after you pass away.
Probate can be a completely public process, or it can be managed to include as little information as possible.
Monthly Social Security payments differ substantially depending on when you start receiving benefits.
It may help your business be better prepared in the event of the death of a principal or key employee.
Estimate the total cost in today's dollars of various mortgage alternatives.
This calculator can help you estimate how much you may need to save for retirement.
Estimate how much you have the potential to earn during your working years.
This calculator compares employee contributions to a Roth 401(k) and a traditional 401(k).
Assess whether you are running “in the black” or “in the red” each month.
This calculator helps determine your pre-tax and after-tax dividend yield on a particular stock.
Using smart management to get more of what you want and free up assets to invest.
The importance of life insurance, how it works, and how much coverage you need.
There are some smart strategies that may help you pursue your investment objectives
Investment tools and strategies that can enable you to pursue your retirement goals.
How federal estate taxes work, plus estate management documents and tactics.
A presentation about managing money: using it, saving it, and even getting credit.
In good times and bad, consistently saving a percentage of your income is a sound financial practice.
A visit to the hospital can be painful, for both your body and your wallet. Don’t let it be more painful than it has to be.
What if instead of buying that vacation home, you invested the money?
Smart investors take the time to separate emotion from fact.
Even low inflation rates can pose a threat to investment returns.
A portfolio created with your long-term objectives in mind is crucial as you pursue your dream retirement.