Retirement Savings By Millennials

Retirement Savings – Issues That Worry Millennials

Save for retirementJust 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…

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How Much To Save for Retirement

How Much To Save for Retirement – What’s Your Magic Number?

Save for retirement nowThis question has been asked so many times and there is no one simple answer. Well maybe there is if you say “as much as you can”. How much to save for retirement has so many variables it will make your head spin.

You can read opinions from many financial planners citing actuarial tables and formulas, but the bottom line is start saving for retirement as early as you can and save as much as you can.

According to statistics and studies made, Americans aren’t the best at socking away money for their retirement years. They go on to say that in excess of 80% of us have no idea on how much to save for retirement.

I guess if we knew how long we were going View full post…

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Refinance With Bad Credit

Does Having Bad Credit Mean You Can’t Refinance Your Mortgage?

Refinance with bad creditThere 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…

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Co-signing a Student Loan

Co-signing a Student Loan Could Ruin Your Retirement 

Work for student loan paymentThis 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…

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How To Protect Yourself From Identity Theft

Do You Know How To Protect Yourself From Identity Theft?

Identity theft is on the riseDo 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…

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