2019 End-of-Year Financial Planning
Is it really time to think about the end of the year? Well, there are only three months left and there’s the question of whether you really want to try to jam financial planning in with Thanksgiving and Christmas. So, maybe it’s a good time to think about end-of-year financial planning. Here are a few […]
Reducing Your Monthly Mortgage Payment
Who wouldn’t want to reduce their monthly mortgage cost? This article reviews two ways that you may be able to accomplish this: getting a lower rate and eliminating your PMI (Private Mortgage Insurance). You may have read that the Treasury yields have been dropping. The 10-year rate began 2019 at 2.66% and had dropped to […]
Monthly Payments Add Up
It can be so tempting to finance a new purchase. Rather than pay out a decent amount of cash at the time of purchase, it can feel better to pay over time. Retailers offer such plans because they know we’re susceptible to their allure. The issue with financing is it’s just too easy to inadvertently […]
Rainy Day & Emergency Funds
Could your car need repairs? Might your water heater go out? Is it possible you might lose your job during a corporate reorganization? Sure they can. Wouldn’t you like to reduce your stress and avoid going into debt by being ready for the unexpected? Fortunately, there are two financial planning tools to help you deal […]
A Hidden Expense: Subscription Services
Are there any of us who don’t subscribe to a number of subscription services, probably not. Just think about it. Do you have a cell phone plan, do you subscribe to Netflix or Amazon Prime. Many of us do. And the companies love you for doing so. Companies call this annuity-based or recurring revenue. It […]
Dealing with Debt
Did you know that 77% of Americans carry some amount of debt? Now part of that is to be expected. For most of us, we simply can’t purchase a home without borrowing. However, a 2018 Northwestern Mutual study showed that, exclusive of mortgages, average household debt is $38,000. Credit card debt makes up the largest […]
Talking Money with Your Partner
Whether you’re married, living together or in some other type of committed relationship, it’s important to have good communications about relationship issues. This might include how to parent the kids, life goals, finances and so on. In many surveys, money is included in the list of topics that can be difficult for couples. For example, […]
Adjusting Withholding for Taxes
You probably remember that the government passed some extensive tax law changes late in 2017. These were called the Tax Cuts and Jobs Act. Early in 2018, the IRS reduced withholding rates to account for some, but not most, of the tax law changes. (For many of us, this resulted in higher take-home pay which […]
Higher 401(k) and IRA Limits for 2019
I know you’re familiar with 401(k) and IRA plans. Hopefully you’re already contributing to both of them! If you’d like to reread some previous articles on these savings plans, please check out 2018 Financial Resolutions, Financial Planning Resolutions and Plan Now to Minimize Your Taxes. As of January 1, you can sock away even more […]
Lifestyle Creep
Lifestyle creep is simply using income increases to finance a more lavish lifestyle. It’s natural to want to enjoy increases in your income, but some discipline here can reap large rewards down the road. Some advisors advocate saving all of your future increases since you’ve gotten along without them so far. This approach neglects the […]