Accepting one’s own mortality is a tough pill to swallow. As such, estate planning can be a morbid topic that lingers in the background of our lives ominously. Nobody wants to plan for their own death! However, the repercussions your family will face are dire if you delay preparing for the unforeseen curveballs that life throws our way.
The Trump administration’s new tax reform bill was signed into law in December of 2017, representing the first major tax change in over 30 years. The changes are significant and are likely to affect nearly everyone in some measure; some positively, while others may find themselves with a higher tax bill in 2018.
Credit Management in the 21st Century
In today’s world, good credit is a necessity. Today, our credit score affects much more than our ability to buy a house or finance a car. Our credit score can also affect our insurance premium, our ability to rent an apartment, and even our ability to get a job.
A tight housing market is leading many young adults to postpone purchasing a home, choosing instead to go the rental route.
The short answer is yes, in a number of ways. However, rather than just take it at face value, a closer examination of the two different types of investments will reveal how they differ in the amount of safety investors should expect from each.
You’ve worked hard and after five years of disciplined savings, you’ve been approved for a 20 year $200,000 mortgage. It’s an exciting time and amongst the financial decisions ahead of you is determining if you should buy the bank-sponsored mortgage life insurance policy recommended by the loan officer.
A tight housing market is leading many young adults to postpone purchasing a home, choosing instead to go the rental route. Many simply don’t want to be encumbered with a mortgage and all of the responsibilities that go with home ownership.
Pat and Kelly, new parents, made a couple monthly budget adjustments upon the arrival of their first child. First, due to the added cost of day care and dependent health insurance, they decreased the amount they were saving for a house. And second, they agreed to review their life insurance needs.
Generally speaking, conversations about life insurance revolve around whether you should buy term or permanent insurance. However, every decision to buy life insurance begins with deciding what is the right amount of life insurance. And, integral to determining the right amount of life insurance is understanding the role of your Social Security Survivorship Benefit (SSSB).