Parents and grandparents have high hopes for their children. Some say they want their children to be happy, successful and self-sufficient in life. Other mothers and fathers say they want their children to fulfill their potential, earn enough money to enjoy a comfortable lifestyle and be successful in their career. Will Financial Literacy improve your…
“Backdoor” Roth IRA – Why This Tax Loophole Makes Sense
Nearly half of all working-age families have zero retirement account savings, according to a study by Economic Policy Institute, The State of American Retirement. There has been much discussion about eliminating the “backdoor” Roth IRA. This is a situation where the lawmakers put in place a law with unintended consequences. However, this tax loophole makes…
Digital Deception: Current Trends in Cybercrime
In December 2016, Yahoo announced that data associated with more than 1 billion user accounts had been stolen in 2013. The company believes this was a separate incident from a previously announced theft of data from 500,000 user accounts in 2014. Although the sheer number of compromised accounts is staggering, the Yahoo breaches are just…
Financial Health Checklist – How to Budget, Save, Spend and Invest
A Supplement to Grant’s Smart Money Trilogy. How to Budget, Save, Spend and Invest (Book 1). (Downloadable PDF included below). The following checklist is intended to be used annually by an individual, a couple or a family in the areas of budgeting, savings, spending and investing. If each member of a couple has…
Reverse Mortgage: Who Qualifies?
Reverse mortgage popularity grew slowly from the start of the Federal Housing Authority’s (FHA) insured program in 1988 until the early 2000’s. The growth of reverse mortgages accelerated from 2006 through 2009 with the increase in home values. During the recession, the number of new Home Equity Conversion Mortgages (HECM) issued under the FHA reverse…
Reverse Mortgages: A Historical Perspective
Reverse mortgages are being promoted on television by Henry Winkler, (The Fonz), the star of “Happy Days” and Fred Thompson, a politician and the Manhattan District Attorney in “Law and Order”. We have all seen their tv commercials. So What is a Reverse Mortgage? A reverse mortgage is a home loan for older homeowners that…
Divorced After 50: How to Plan for Retirement
One in four divorces involves couples over the age of 50. In addition to the emotional turmoil caused by being divorced after 50, a late-in-life divorce also causes a tremendous upheaval in retirement plans. What can you do to ensure your golden years are still secure even though you find yourself in unfamiliar territory? Negotiate for…
Buying Your First Home at Any Age
Qualifying for a mortgage and buying your first home in today’s economy is difficult under the best of circumstances. When you add the challenges incurred by a recent divorce or loss of a spouse, the process can seem impossible. For many, especially those who have suffered from the emotional and financial strain of unexpectedly becoming…
3 Ways Financial Planners Get Paid
Not all financial advice is equal. Though they offer what is supposed to be sound financial advice to you and your family, not all financial planners are conflict-free. Certain considerations may “color” the information and advice offered by a financial planner. Knowing how the financial planner is being paid can help you make the best…
Financial Planner: Do You Need One?
The world of finance has become quite complex. As if investing is not difficult enough, it’s only part of what goes into your financial planning. With so many components, financial planning can be daunting and overwhelming — and that’s where your planner comes in. What’s financial planning? Financial planning includes budgeting and saving your money,…