Retirement Savings – Issues That Worry Millennials
Just when you thought that retirement savings meant putting away as much money as you needed for your lifestyle…now, making plans for unknown factors creeps in.
For the millennial generation, unfortunately, much is unknown. There are four primary concerns that we will list here and then elaborate later on:
1. Will social security and Medicare survive?
2. Will they have to take care of their elderly parents?
3. What will future health care costs be?
4. Are their retirement funds being managed properly?
Knowledgeable financial planners say View full post…
Does Having Bad Credit Mean You Can’t Refinance Your Mortgage?
There are a few programs available, such as the Federal Housing Authority (FHA) and the Home Affordable Refinance Program (HARP) that have options for individuals with bad credit. These programs are not based on your credit score, and they don’t even require a credit check.
Another organization, the U.S Department of Veterans Affairs (VA), offers mortgage refinancing to individuals who have bad credit. These are done through various lenders who determine their own requirements, and will vary by the lender.
Some of the statistics from August 2017 bear this out. Ellie Mae View full post…
Co-signing a Student Loan Could Ruin Your Retirement
This is one aspect of parenting that has many opinions and heated discussions. Let’s say that your child or grandchild just finished high school and has been accepted by their favorite college. Unfortunately, some part of their borrowing will require co-signing a student loan with a private lender.
Like many other students who apply for financial aid, the federal government will approve loans directly to the student. This is done without as much as a credit check. But, many times the federal government approval doesn’t cover all of the costs and the student must apply to the private student loan lenders.
These loans do require a credit history check, and the young student usually View full post…
Do You Know How To Protect Yourself From Identity Theft?
Do you allow online vendors to store your credit or debit card information on their website? Do you use an app where you store your credit or debit card information? Do you know how to protect yourself from identity theft?
In today’s fast paced society, many Americans do just that so that they can make purchases more quickly. Actually, almost 100 million of our citizens are doing that.
Is it wise or safe to do that just to make a purchase one minute faster? Obviously, many will say yes, until the day that particular vendor has their website hacked. Then, when a hacker starts making purchases on that site with your credit card, your opinion will probably change.
Suppose you store a View full post…