Introduction A rustic cabin. a seaside cottage. buying a second/vacation home can be an alluring prospect. Before you decide to purchase one, though, you should consider a number of issues. These include the costs associated with owning a second/vacation home, the attributes of the home, its rental potential, and the income tax treatment. Should you
If you have a lot of debt, you’re not alone. Today, more and more Americans are burdened with credit card and loan payments. So whether you are trying to improve your money management, having difficulty making ends meet, want to lower your monthly loan payments, or just can’t seem to keep up with all of
Setting financial and investment goals Setting goals is an important part of life in general and financial planning in particular. Investing without knowing what you’re trying to achieve is like trying to drive across country without a map or GPS. Your goals and circumstances may change over time, but it’s easier to adjust your plan
Planning for your own business Before you start your own business or buy an existing business, you should do some initial planning. You may have already decided what type of business you want–your own restaurant, retail outlet, service, or manufacturing plant. You need to choose a suitable location–can you work from home, or do you
Introduction For most parents, paying for a child’s college or graduate school education is a major event. For some parents, it rivals only the purchase of a home in number of dollars spent. As the cost of college continues to rise, it’s little wonder that parents view their ability to pay college costs with some
Answer: Many financial professionals suggest that you put away three to six months’ worth of living expenses for emergencies. If you lose your job, or become disabled and don’t have adequate disability insurance, you’ll need that money to pay your regular monthly expenses, such as mortgage payments, insurance premiums, groceries, and car payments, until you
Planning your retirement income is like putting together a puzzle with many different pieces. One of the first steps in the process is to identify all potential income sources and estimate how much you can expect each one to provide. Social Security According to the Social Security Administration (SSA), more than 8 of 10 people
If you’ve lost your job, or are changing jobs, you may be wondering what to do with your 401(k) plan account. It’s important to understand your options. What will I be entitled to? If you leave your job (voluntarily or involuntarily), you’ll be entitled to a distribution of your vested balance. Your vested balance always
