If you’re a first-time buyer looking for a home, you’re probably browsing online listings nearly every day, trying to find something you like and can afford. But before you click through to your next virtual home tour, it may be time to step back and lean on some expert guidance.
By Jonathan Young
Since 2008, Jonathan has been passionate about building trusting relationships with Members to help them reach their financial goals. He believes that financial plans should be built with a specific objective in mind, like living comfortably in retirement, saving for college, or buying a house.
Depending on your investment profile, you may want to consider including an annuity as part of your investment portfolio. Annuities can have features that provide a more moderate approach to help build retirement savings. They can also be used to create an income stream you can’t outlive.
Do you know where you stand financially? Taking the time to create or review a financial plan can help you make the most of your money.
Here are some simple tips to help you get there.
Are you hoping to become a homeowner this year or want to refinance an existing home loan? If so, it pays to take the time to understand the current mortgage landscape. Getting the right loan can be as important as the home itself. The last thing you want to do is pay unnecessary fees or take on loan terms that might hurt your finances.
The stock market provided plenty of drama early in 2020, a bear market that began in February, but recovered by April. And in spite of that early major downturn, the S&P 500 Index still enjoyed double-digit performance for the year, resulting in a total return of more than 16.26% as of 12/31/20.1
In a volatile stock market, your emotions might let new highs and record lows drive your short-term decisions. The drastic ups and downs can make you feel confident one day and queasy the next. When your investment is reaching new highs, you might feel on top of the world. But, when your investment hits new lows, confidence wanes. The market’s volatile nature might even lead you to jump ship on your savings goals. Unfortunately, this could cost you over the long term.
It’s possible to remain calm during what feels like a financial roller coaster ride if you better understand market declines and the need for a smart investment strategy. When you pair the two, you’re more likely to meet your financial targets.
If you feel like the COVID-19 pandemic robbed you of your ability to live a normal life, you’re not alone. Restrictions on travel, entertainment and other social gatherings put an abrupt halt to daily activities around the globe.
Due to a global semiconductor shortage, production on certain new cars has slowed, causing used car sales to soar. Like the housing market, it’s a boon for sellers looking to sell or trade in their current vehicles, not so much for buyers who are paying premium prices for both new and used rides. According to recent data, used-car prices rose by 21% in April since April the same time as last year.1
It sounds easy. Make a quick phone call, save thousands a year on insurance. But to get the right coverage for your specific situation, you need to look beyond low annual premiums. While you might find cheaper policies, they may not adequately protect your property or assets. There’s a better way to save money on insurance.
