3 Reasons You Should Avoid Borrowing Against Your Home Right Now
.3 Reasons You Should Avoid Borrowing Against Your Home Right Now
Liz Weston Wed, September 7, 2022 MarketWatch
All that equity you're sitting on is tempting, but just because something can be done, doesn’t mean it should be done.
Soaring real estate values mean many homeowners are awash in equity — the difference between what they owe and what their homes are worth. The average-priced home is up 42% since the start of the pandemic, and the average homeowner with a mortgage can now tap over $207,000 in equity, according to Black Knight Inc., a mortgage and real estate data analysis company.
5 Ways How You Value Money Affects Your Finances
.5 Ways How You Value Money Affects Your Finances
Lee Huffman Sun, September 4, 2022
Investors value money differently based on their experiences, goals and beliefs. This process is known as mental accounting, and it often affects how we budget and spend our money. Mental accounting can also affect our investment decisions, leading us to make choices that make it harder to meet our goals. Learn more about mental accounting, including how it applies to finance and whether or not you should use it to make decisions.
For more help with financial planning, consider working with a financial advisor.
7 Things You Should Never Do When Planning For Retirement
.7 Things You Should Never Do When Planning For Retirement
ADAM MCFADDEN | Updated July 21, 2022
Looking to retire comfortably? Avoid these mistakes.
It’s never too early, or too late, to start thinking about your retirement goals. No matter if you’re hoping to retire early or work until you can’t any longer, having a plan for how you can retire comfortably is essential.
Get started on these steps right now so you can reach your retirement goals.
1. Not Having A Professional Review Your Plan
If you’re fortunate enough to have plenty of retirement savings and investments, now is the time to futureproof your funds. But that takes time and skills that most don’t have, so the best option is to turn to a professional financial advisor. The hard part is finding the right one.
How Much Cash To Have Stashed at Home at All Times
.How Much Cash To Have Stashed at Home at All Times
GoBankingRates
Digital payment platforms like Venmo, PayPal and CashApp have changed the way we use and keep physical cash on hand. Most people rarely keep cash on their person, much less at home.
However, there are always unexpected events that can lead to a necessity for having a bit of cash on hand, particularly emergencies ranging from catastrophic weather (hurricanes, wildfire), to power outages. If you can’t access your digital currency or your banking systems are down, having cash can allow you to get gas, food, and medicines with ease. However, just how much cash should you have on hand? We asked experts to weigh in and the answer is: It depends.
Why Is Money So Confusing?
.Why Is Money So Confusing?
Liz Weston, CFP®
Thu, September 1, 2022 NerdWallet
The investing information provided on this page is for educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.
Managing money is an essential life skill, yet most U.S. adults would fail a financial literacy test. Consider the results of a survey meant to measure financial literacy, called the TIAA Institute-GFLEC Personal Finance Index. On average, U.S. adults correctly answered only 50% of its financial literacy questions in 2022.
It’s A Crazy World When Zimbabwe Has The Most Stable Currency
.It’s A Crazy World When Zimbabwe Has The Most Stable Currency
Notes From the Field By Simon Black August 30, 2022
Robert Mugabe could have gone down in history with the same esteem and grandeur as Nelson Mandela.
Like Mandela, Mugabe was imprisoned for several years for being a prominent anti-colonialist leader in Zimbabwe— then called Rhodesia.
Upon release from prison, and with a little help from the international community, Mugabe became Prime Minister of Zimbabwe in 1980. And the first few years of his leadership were quite reasonable. But that all changed in 1987 when the constitution was amended and Mugabe gained dictatorial powers.
What to Do With a Financial Windfall
.What to Do With a Financial Windfall
Rivan V. Stinson, Staff Writer Tue, August 30, 2022 Kiplinger
It’s a cliché, but it’s also true: Every cloud really does have a silver lining. That was hammered home for me after I was recently rear-ended in a car accident. I wasn’t hurt, but it was a frightening experience, and the amount of paperwork required in its aftermath was sometimes overwhelming.
After I filed my claim and it was processed, my auto insurer deemed my car a total loss. But before I had time to mourn the fact that I was carless—again—the silver lining emerged: I was refunded part of my auto insurance premium for the month, and I was cut a check for $11,000, which was what my auto insurance company concluded my 2014 Chevy Cruze was worth. While the settlement wasn’t a Powerball, “quit my job” amount, it did give me pause, because I had to decide what to do with it.
The 8 Places Billionaires Keep Their Money
.The 8 Places Billionaires Keep Their Money
Andrew Dehan Tue, August 30, 2022
Billionaires have been able to not only acquire wealth but most have gradually built it over time. This means that many have had successful investments, which makes it natural for everyone else to wonder where they are investing or keeping their money in order to see that growth. We’ve compiled a list of some of the most common investments that billionaires make when looking for sustained growth of their money over time.
Keep in mind, though, that billionaires don’t typically manage their own money and instead choose to work with a financial advisor to help with their asset allocation.
Some Clear Thinking About Stagflation
.Some Clear Thinking About Stagflation
Notes From The Field By Simon Black August 29, 2022
Let’s not mince words: stagflation is here. Let’s also not overreact: the world is not coming to an end. And, like all things, there are both risks and rewards that will arise.
First, what do we know?
Historically high inflation is obvious. Plus many major economies around the world are already sputtering.
Germany’s economy stagnated with 0% growth last quarter. China’s economy practically ground to a halt. Economies in the UK and Hong Kong contracted slightly. And the US economy has already contracted for two consecutive quarters.
6 Causes of Financial Problems and How You Can Solve Them
.6 Causes of Financial Problems and How You Can Solve Them
Nicole Spector Thu, August 25, 2022
So many Americans are trapped in debt and underfunded for retirement that one has to ask, “What is going on? Why are so many of us in such financial trouble?”
A lot of it isn’t our fault and is beyond our control, but we do need to get to the root of the money problems that we can control. So, it’s important to understand the causes of financial problems. What are they and how do they manifest? More importantly, how can we solve them?
What Happens to Your Mortgage When You Die?
.What Happens to Your Mortgage When You Die?
Mark Henricks April 18, 2022
If you die owing money on a mortgage, the mortgage remains in force. If you have a co-signer, the co-signer may still be obligated to pay back the loan. A spouse or other family member who inherits a house generally has the right to take over the payments and keep the home. Alternatively, terms of a will may direct that the estate’s assets be used to pay off the mortgage, and sometimes a life insurance policy will pay off the mortgage if the original borrower dies.
If no one will assume the mortgage and there is no provision to pay it off, the lender may foreclose on the property and sell it. A financial advisor can help you deal with mortgage challenges during the estate planning process.