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Time to Refinance Your Home?

One silver lining amid recent events is that market interest rates have declined, resulting in lower mortgage rates. Mortgage rates are sensitive to the 10- year Treasury note, which had a near-record low 0.66% yield as of Sept. 30, 2020, down over a full percentage point from an already low 1.73% one year ago. If you have not refinanced recently, we suggest you consider it now.

How To Evaluate Taking on “Fun” Debt

Personally, there is nothing more relaxing and exhilarating than being on a sailboat with a 15-knot wind on your beam (side), listening to the soft sounds of water splashing against the bow and using wind energy to propel the boat forward.

Take Advantage of Tax Rules To Decrease Your Debt Service Expense

Debt can sure come in handy when buying a major asset like a house or car or managing unexpected expenses. Thankfully, the interest you pay on this debt can often provide a helpful deduction on your tax return. However, the IRS is very specific regarding the situations where interest is or is not deductible. The rules can be quite complex, so a discussion with your tax professional is always a good idea. Here are several typical examples of how the IRS treats interest payments.

Can You Afford That House?

The COVID-19 pandemic and resulting recession have caused a lot of people to think deeply on their financial goals as they relate to home ownership.

Pay Off Debt? Or, Save for Retirement?

Fifty-six percent of adults under the age of 44 have student debt, according to the Pew Research Center. This is the highest share in history. The increase in college costs and the rising importance of a post-secondary education for improving income are a big part of this. Many surveys conducted in recent years have discovered that Millennials share a resistance to debt, no doubt influenced by coming of age during the dot-com crash of 2001 and housing crisis of 2008. Given this, it’s no wonder we often see that younger people want to pay off debt before they save for retirement.

Why Your Money Isn’t Available Immediately After Selling Securities

When you need to withdraw cash from your investment account and you’re told the funds aren’t available, it can be a little unsettling, particularly when you know you have more than enough to cover the withdrawal. “What do you mean, the funds aren’t available? I can see them right there!”

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Michael Baughman

Michael Baughman

Michael is a Certified Financial Planner practitioner and a NAPFA-Registered Financial Advisor.

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