Personal Finance Articles
Delaying Social Security benefits by just five years can increase a retiree’s monthly benefits by as much as 30 percent for the rest of their life. But how to come up with the money to replace Social Security benefits for five years? For some homeowners, a reverse mortgage is their best answer.
The high costs of adding solar power or replacing a roof or air conditioner don’t have to be paid with a credit card or pulling money out of savings, as 76 percent of Americans do when financing home improvements. Many homeowners use home equity loans to pay for green energy and related work on a home without having money upfront.
Firefighters after nearly a month had by late December of last year mostly contained the Thomas Fire, the biggest wildfire in California's history. But the fire, which started Dec. 4 about 60 miles northwest of the center of Los Angeles, had already destroyed more than 1,060 structures and burned more than 281,000 acres.
A home equity loan or home equity line of credit (HELOC) is often used to make home repairs or remodel a house. They’re both a type of second mortgage on a home — with the home as collateral if the borrower defaults — so using a home equity loan on something risky such as starting a business should be done with care.
You might think that taking on any debt is a bad thing. But the truth is, there is such a thing as good debt vs. bad debt. And when it comes to good debt? Few types of debt are considered as beneficial as mortgage debt.
Two of every three homes are underinsured by an average of 22 percent, according to Nationwide. With the median U.S. home price at $196,500, a total loss of a home would require the owner to pay about $43,000 out of their pocket.
Most Americans will need some type of long-term care in their old age. For those moving to a senior living facility that provides some level of care — from weekly housekeeping to daily assistance or dementia care — selling their home to fund senior living and care may be their best choice.
Money is a fairly constant concern for all but the most fortunate students, and especially those students who choose to live away from home, either on or off campus. For these students it is often the first time managing the costs and responsibilities associated with living independently.
Being a student who is attending college or any other type of higher education almost always comes with a sharp increase in the amount you are regularly spending. This naturally takes a toll on your finances, particularly if you are unprepared or haven't planned out a budget to ensure that you are living within your means.
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