“Loose lips sink ships,” a saying popularized during World War II, is a reminder that making the wrong choice can lead to grave consequences. It’s just as applicable today when it comes to your retirement savings plan; a couple of missteps can potentially jeopardize your financial future. As you prepare for retirement, ask yourself if [...]
If you own a house and have credit card debt, you may be considering using a home equity line of credit (HELOC) to pay off your credit card debt, and with a lower interest rate. When you take out a HELOC, you open up a revolving line of credit from your mortgage lender where your [...]
You’ve finally found the home you’ve been looking for and you’re ready to make an offer. But how you can you be sure that you’re getting a good deal? When you buy a home, every penny you can save on the purchase price will help you with closing costs, redecorating, and moving. The trick to [...]
If you travel regularly for business, there may be times when you decide to bring the family along. After satisfying your work commitments, you have the opportunity to enjoy some quality family time even when you’re on the road, and, as an added bonus, a portion of your vacation might lower your tax liability. While [...]
This article was written by guest blogger Eva Rosenberg. Your adjusted gross income (AGI), which is your gross income minus deductions such as retirement contributions and other adjustments, is one of the most important numbers in your entire tax return. It’s used to determine limits on many types of deductions, credits, and tax rates, as [...]
For some potential homeowners, renting a home for a time before buying is an attractive option. It allows time to save money or otherwise get financially prepared before buying a home, and it also offers a way to get to know the property before committing to it. Regardless of your situation, a rent-to-own model could [...]
According to an August 2014 study conducted by Merrill Lynch, when it comes to homeowners, seniors tend to carry less mortgage debt, have more equity in their homes, and tend to have greater net worth .These trends make older Americans a favorable target for marketers of financial products and services, including reverse mortgages. These mortgages [...]
As you work to build your retirement savings account, you might wonder whether you should fund other accounts as well. After all, if your end goal is to retire on a tropical island, shouldn’t you put every dime you can into your retirement savings? While saving for retirement is important—it’s one of my “big three” [...]
In certain situations, it’s clear who to call when there’s a problem you can’t solve. When a pipe breaks in your home, you call a plumber. When your car breaks down, you call a mechanic. When your pet is sick, you call the veterinarian. But what if you’re trying to determine how to invest your [...]
Mythbusters: tax deductions. Yes, in certain situations you can claim your significant other as a dependent or deduct medical expenses. Whether you filed for a tax extension and have yet to file your taxes for last year, or you’re simply thinking ahead to next tax season, it’s important to know the facts about tax deductions. [...]
