A 401(k) plan is a powerful tool for retirement savings, offering tax advantages and employer contributions. However, life’s financial demands may tempt you to consider withdrawing money from your 401(k) accounts. Hardship distributions may be available for certain immediate and significant financial needs, subject to your employer’s retirement plan provisions and applicable IRS rules. Please note that, according to the IRS, you are limited to a hardship distribution in the amount necessary to satisfy that financial need. Read more.
Buying a new car is exciting, but it can also feel overwhelming when you consider the costs. That’s why the government’s new car loan interest tax deduction of up to $10,000 per year for vehicles assembled in America can make it more affordable for you to buy a new car.* Read more.
If you’re struggling to keep up with your vehicle payments, you’re not alone. More than 5 percent of Americans are delinquent on their auto loan payments.* Read more.
The national average sales price of a home in the U.S. is $503,800 as of this writing, according to the U.S. Department of Housing and Urban Development.* In this example, you’d need to put down $100,760 (20%) to avoid having to pay private mortgage insurance (PMI). Read more.
Buy new, buy used, or lease? These are just a few of the many decisions you’ll need to make before happily driving away with a vehicle. While shopping for a car or truck is exciting, it’s also no simple matter. You can avoid buyer’s remorse by making important financial and practical decisions before signing on the dotted line. Read more.
Using the equity in your home to pay off unsecured debt or make home improvements can be a difficult financial decision. Low annual percentage rates, tax-deductible interest, and streamlining your monthly payment make second mortgages extremely attractive. However, using your home for collateral is a decision that should be weighed carefully. This blog will cover home equity loans vs. HELOCs and provide information that can help you decide which is right for you. Read more.
There are many reasons you may need to borrow money. From tackling big home improvement projects to buying a vehicle to fixing a temporary cash-flow challenge. Reducing the cost of borrowing money is crucial to helping your manage your personal finances. By implementing these ideas, you can lower the cost of a loan by lowering the amount you pay in interest and associated fees.
There are any number of reasons you may need a short-term loan. When considering your options, there’s one loan you should approach with caution: a payday loan. A payday loan is typically a short-term, high-cost loan, generally of $500 or less, which you typically must pay back on your next payday. One reason people choose a payday loan is that, in many cases, no credit check is required.
This year has been challenging for every sized business. But, despite the economic uncertainty, and rising interest rates, there are some silver linings. One is an abundance of office space and motivated sellers looking to cut their losses, meaning more bargaining power for you if you’re looking to purchase an office.
