Even though we still think of them as children, under the law when a teen turns 18, they are considered an adult. Being an adult allows them to vote, serve in the military, serve on a jury, sign a contract and get married without your consent. This is a big change from when they were 17.
As interest rates continue to rise we think its important to review two common types of mortgages. You may have heard the terms “Fixed Rate” and “Adjustable-Rate” (ARM) mortgages; and there are many facts to consider before choosing one besides the interest rate. An important, and sometimes confusing, decision; choosing the appropriate mortgage product can play a large role in determining how happy and comfortable you are in your new home.
To have a credit card or not? Though some people open credit cards without hesitation, others are scared of the potential for running up unwanted or unnecessary debt. While a credit card can provide several opportunities, it is crucial that solid discipline is exercised. When you consider opening a credit card, it may help you to keep the following tips in mind.
Every year millions of workers who are either retiring or changing jobs struggle with a difficult decision regarding their old employer’s 401(k). They know they don’t want to cash in their account because of the income taxes, and potential penalties. But they’re unsure whether to leave their money in the old 401(k) plan, roll it into a new employer’s defined-contribution plan if available, or roll it over into an individual retirement account. Each option has its benefits and disadvantages, depending on their situation.
One of our investing tools at Lawrence Financial Planning is a bond ladder. We always want to make sure our clients have available cash to take care of their needs.
Yes, we all know the rules about paying off a mortgage: if she had a low interest rate mortgage she could take the extra cash and earn more in the market. At the time she still received a tax break for having mortgage interest. She wouldn’t want to be house rich and cash poor, and a mortgage is a hedge against inflation.