Yes, You Can Buy a Home, Start a Family AND Pay Off Your Student Loans From loan forgiveness, to expedited payments and income-adjusted payments, there are strategies available to get a grip on overwhelming student debt. Randi Lupi explains the options at: https://www.kiplinger.com/article/college/T042-C032-S014-yes-you-can-buy-a-home-and-pay-off-student-loans.html Source: Financial Planning for Women
Month: November 2019
Retirement Caregiver Crisis
A labor shortage in the caregiving market could have widespread implications for families. Nursing homes in Maine, the state with the oldest average age, are having to close down due to not being able to hire enough staff. Other nursing homes throughout the U.S. struggle with keeping qualified staff. This situation does not portend well…
Homeowner’s Insurance Resource
Time to review your current HO policy, especially if you’ve made renovations to your home or condo. If you have children going to college away from home, their possessions are usually covered by standard HO policies. Reminders: Make sure your home valuation report is up to date Consider full-replacement cost coverage if you live in…
Preventing Dementia
What Science Tells Us About Preventing Dementia “There are no instant, miracle cures. But recent studies suggest we have more control over our cognitive health than we might think.” by Anne Tergesen in the 11/17/19 Wall Street Journal. 1. Control high blood pressure 2. Exercise 3. Cognitive training 4. Diet: eating “a Mediterranean diet, which…
Seven Days to a Better Retirement
The 7 days to retirement challenge is brought to you by The New York Times! Writer Ann Carrns explains the process and why you need to start now. https://www.nytimes.com/2019/11/06/business/not-yet-ready-for-retirement-give-us-one-week.html?te=1&nl=your-money&emc=edit_my_20191111?campaign_id=12&instance_id=13780&segment_id=18703&user_id=bde4c6c63beab087f13b761e1ee9fe1e®i_id=83720664 “In the shuffle of immediate priorities, don’t push off planning for what could be the best chapter of your life. Get a week’s worth of simple…
Mounting car debt traps more drivers
Look at all those huge shiny new pick up trucks and SUVs on the roads these days! Are Americans really that affluent? Not really. How could it make sense to buy a $27,000 vehicle with a $45,000 loan? No I did not mix up the numbers as reported by AnnaMaria Andriotis & Ben Eisen on…
2020: Increased limits for employee contributions to retirement plans
The IRS limit on annual employee contributions to 401(k)s, 403(b)s, most 457 plans and the federal government’s Thrift Savings Plan will rise to $19,500 next year, up from $19,000 in 2019 . The limit for IRAs remains $6,000 or $7,000 for ages 50 +. Source: Financial Planning for Women
4 Steps to choosing a health plan for the coming year
Get guidance for this important decision from the Humble Dollar, courtesy of Richard Conner. 4-step process:1. Calculate the total annual premium2. To the results from step No. 1, add the deductible for each plan. 3. Subtract the deductible from the out of pocket (OOP) maximum.4. Add the premium amount from step No. 1 to the OOP…
Best Credit Cards for 2019
“Credit cards are a useful financial tool if used responsibly. With a credit card, you can charge items and services that you need and then pay them off at a later date. If chosen wisely, a credit card can even be used to earn rewards or to build credit.” Writing for Consumer Affairs, Beverly Harzog…
What will Medicare cost me in retirement?
“Health care inflation has been running about double the rate of general inflation.” “The standard monthly premium for Part B (outpatient services) this year is $135.50; Medicare’s trustees forecast annual increases averaging 5.9 percent through 2028. Enrollees in traditional Medicare can expect inflation of 6 percent if inflation for Medigap premiums is included.” “According to…