I am a fan of (at least considering using) reverse mortgages. Although there is some controversy from the old days where the product lacked current consumer protection, the new world of reverse mortgage is worth looking at. Nationwide data indicates that home equity can account for 50% or more of total net worth for many households…
Tariffs, world unrest, inflation, politics, actual ticks – things are going to happen, but people still want to finish their basements. A common question that comes up in financial plans is, “How can I pay for my house improvements without derailing my retirement/college goals?” Here are a few ideas: Savings: Using your own cash is…
You know who stresses less about stock market volatility? People who have a financial plan. According to the Goldman Sachs 2024 Retirement Survey and Insights: 40% of people with a financial plan feel comfortable managing their savings and investments, compared to just 16% of those without a plan. 80% of individuals with a financial plan…
Times are stressful with rising prices, crazy stock markets, and general world instability. While you can’t control people starting a trade war, you can control how the fallout affects your bottom line. Here are some ideas on how to lower your household inflation rate – even as prices rise. Plan your Purchases and Research…
Part of the insanity of the early 2025 investment scene is the wild ride of bonds. Yes, even the stalwart US Treasury options have seen big moves due to the tariff situation. There is a ton of money in money market funds these days because they were yielding up to 5% at one point. What’s…
I’ll get straight to the point: I believe that MOST homeowners should have a Home Equity Line of Credit (HELOC). Why? First, let’s start with the What: A home equity line of credit (HELOC) is a revolving line of credit secured by your home, allowing you to borrow against the equity you’ve built up. Basically,…
Sometimes it’s nice to just revisit the basics of good #personalfinance. This could be a refresher for you or something to talk to your kids about. This is a quick list of what to do (in order) if you have a windfall of money. Like, maybe, a tax refund. Pay off credit card debt…
Ever since the Global Financial Crisis of 2008, the US Federal Reserve kept interest rates at nearly 0% to stimulate the economy. As a result, safe money (cash you held for emergency funds or short-term needs) earned no interest whether that money was in a checking account, savings account, or money market fund. For so…
I’m trying to think of an expression, like “counting your chickens before the eggs hatch” that applies to considering inheritance as part of your financial plan. Or maybe, with egg prices what they are, we are just hoping to inherit a healthy chicken coop. Anyway, a topic of conversation that often comes up in planning…
This month, I’m pleased to feature the expertise of my friend and Realtor, Renee Cohen. Renee and I started our businesses around the same time, and I’ve always enjoyed exchanging ideas about growing our firms, serving clients, and the state of the economy. Recently, Renee added a certification to help divorcing clients with their real…
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