When it comes to perceptions about tax rates, California gets a bad wrap. While many active adults are drawn to the Golden State for its idyllic weather, diverse entertainment options, and proximity to the beach, mountains, lakes, and other natural wonders, others are put off by what they believe to be high tax burdens.
From mortgages to taxes to Social Security to general money issues, there are many financial topics that active adults need to know about. You’ll find answers to all your important retirement finance questions here, whether you’re getting ready to retire or need information on different state tax situations.
The mortgage process is pretty complicated. Even if you’ve gone through it before, it’s easy to get tripped up with all the steps, documentation, and financial jargon of it all. Are you planning on applying for a mortgage soon? Before diving straight in, here are some answers to commonly asked mortgage questions.
Regardless of the reason behind it, early retirement can be difficult to deal with. Not only are there the mental and emotional holes it leaves behind, but there’s also significant financial stress that comes with it. Are you facing forced retirement? Not sure how to deal with all that comes with it? This guide can help.
The rent vs. buy debate has long been argued. But for those in retirement, the dilemma deepens. Sure, homeownership offers stable, reliable payments (great for that fixed income) and the ability to customize your property as you choose, but renting offers perks too. So, how do you choose?
Your real estate agent doesn’t handle your mortgage, but they do play a big role in the overall homebuying process. And choosing an agent who understands the mortgage side of things? That can be a huge step toward ensuring a smooth, efficient, and challenge-free home purchase.
Maximizing your employer-provided investment benefits is critical if you want a comfortable, enjoyable retirement. But how do you do that? It requires a deep understanding of your employer’s exact investment offerings–in most cases, a 401(a) or a 401(k) plan.
There are few universal truths in life and one of them is that no one enjoys paying taxes. Of course they fund our roads, local public works, emergency responders and other essential services but come tax time no one is thinking about that. You’ve worked hard to achieve a certain lifestyle in retirement and a big property tax bill can put a damper on enjoying the fruits of your labor.
The Federal Reserve cut the federal funds rate at its meeting this week, marking the second time in only 11 years the group has done so. The rate now clocks in at 1.75-2%, down from 2.25-2.5% late last year. A change in the federal funds rate won’t impact you directly, but it might trickle down to your pocketbook eventually.
Whether you’re planning to downsize or buy a second home in retirement, you’ll likely need a mortgage to help you do it. In fact, even if you’re staying put in a fully paid-off home, a mortgage might still be a good move for your finances. Here are the mortgage loans that can help you do it.
HECM loans can come with serious advantages for active adults, and they’re also available for use in refinancing. Are you hoping to purchase a home without footing the full bill up front? Do you have significant equity in your home and want to tap it via refinancing? Then a HECM loan could be the right path.
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