A reverse mortgage is something you may have heard of before, but most people don’t know what it means. Essentially, it is exactly what it sounds like. Instead of you making payments to the mortgage lender, they’re making payments to you based on the appraised value of your home (up to $625,500). In order to… Read More
HOW MUCH HOME CAN YOU AFFORD? (AS REPORTED BY KATHRYN VASEL ON MONEY.CNN.COM)
This is a seller’s market when it comes to real estate. Lower inventory across the country is driving home costs higher. And so if you’re one of millions of Americans planning to buy a home this year, CNN Money wants you to keep a few things in mind. First, and most importantly, be honest with… Read More
TAX MYTHS (AS REPORTED BY SELENA MARANJIAN ON MONEY.CNN.COM)
Taxes are complicated. There is no avoiding that. The US tax code is so complex that its likely even a lawyer who specializes on tax law doesn’t know all the details. So how can you or I be expected to understand them? While becoming an expert in the tax code may not be possible, there… Read More
EARLY RETIREMENT MISTAKES TO AVOID (AS REPORTED BY MAYA KACHROO-LEVINE ON WWW.FORBES.COM)
Debt is one of the biggest roadblocks to retirement. Debt forces us to work harder and longer than we otherwise would like. And that’s because the money that we earn is not ours, it is someone else’s, until that debt is paid off. One of the biggest errors that people make in their lives is… Read More
HOW TO BECOME A MILLIONAIRE (AS REPORTED BY RICHARD REIS ON WWW.QZ.COM)
If you want to become wealthy, the best way to get there is not winning the lottery or inventing some brilliant new piece of technology. No, the best way to get there is to follow the tried and true personal finance advice of those that came before you. Follow it religiously, without interruption, over a… Read More
MARRIAGE AND YOUR TAXES (AS REPORTED BY JOHN SCHNEIDER ON WWW.PERSONALCAPITAL.COM)
We don’t often think about marriage as a matter of personal finance, and for good reason. But still, there are certain financial questions we must ask ourselves when planning for a wedding. Chief among them is, how will this affect our taxes? Married people who file their taxes jointly will often save money, meaning they… Read More
TO RENT OR BUY? (AS REPORTED BY EMILY OSTER ON WWW.QZ.COM)
Emily Oster is an associate professor of economics at Brown University and answers readers’ letters in an advice column for Quartz. A recent letter asked a common question that many of us have, “Is it better to rent or to buy?” Emily’s answer was a unique one, and worth sharing. Overall, she says, if the… Read More
MAKING MONEY HABITS STICK (AS REPORTED BY JULIA CHANG ON WWW.LEARNVEST.COM)
We all know we can do more to improve our finances. There are new habits we can implement. The hard part is not in identifying what to do, it’s in sticking with those new habits so that they will have the kind of positive impact they are meant to. There are several ways that you… Read More
What Do You Need in a Home? (as reported by Joshua Becker on www.forbes.com)
Whether you are looking to buy or rent, moving into a new home can seem like a daunting challenge. Most people start with a list of things they want in a new home, and then ask themselves, or get asked by a broker, “What can you afford?” But this article from Joshua Becker on Forbes.com… Read More
4 Money Lessons for Children (as reported by Ashley Eneriz on www.moneyning.com)
Where are we supposed to learn about money? At school? In the home? Through trial and error? The truth is, most Americans don’t know enough about finances to teach their kids. But due to lack of financial education in schools, the home is where most of our financial training comes from. Parents would do well… Read More