Our members often have questions about how to prepare for the future. When looking toward the future, health care may become more of a consideration. Who will take care of you as you get older? If you must live in a nursing home, how will you pay for it? By learning as much as you
The decision to rent or buy a home is an important one. When weighing your options, look at price, your lifestyle and the bigger picture. Here, we lay out the pros and cons behind each scenario. Buying a Home – Pros Tax benefits There are many pros to buying a home, but perhaps none
The 401(k) plan is one of the most popular types of employer-sponsored retirement plans—but do you know how they work? Before you sign up, learn the basics here on these qualified cash or deferred arrangements (CODAs) permitted under Section 401(k) of the Internal Revenue Code, commonly referred to as “401(k) plans.” How does a 401(k)
Life insurance is an agreement between you (the insured) and an insurer. Under the terms of a life insurance policy, the insurer promises to pay a certain sum to a person you choose (your beneficiary) upon your death, in exchange for your premium payments. Appropriate life insurance coverage may provide you with a feeling of
In the market for a new or used vehicle and have a trade in? Having some basic knowledge around trading in your current vehicle can help offset the costs of this new purchase. But it’s important to know just how much your current car is worth before you trade it in at a dealership. You’ll
What if you’re nearing retirement and you determine that your retirement income may not be adequate to meet your retirement expenses? If retirement is just around the corner, you may need to drastically change your spending and saving habits. Saving even a little money can really add up if you do it consistently and earn
Home equity lending helps you borrow against the equity in your home. Because the home is used as collateral, the interest rate may be lower than interest rates for other loans. Taking on home equity lending is also called “getting a second mortgage.” What are the two types of home equity loans? You can get
You’ve worked hard your whole life anticipating the day you could finally retire. First of all, congratulations if that day has arrived! You’ve spent a lifetime accumulating your retirement assets, and now it’s time to put them to work. Reaching retirement comes with the realization that you’ll need to carefully manage these assets so that
There are creative ways to refinance debt and save money in the process. For instance, a lower-interest auto loan can be used to refinance a high-interest loan like a credit card.
Real estate is a great way to build long-term wealth. Combining the forces of leverage, appreciation and cash flow, real estate investment is an accessible way to provide for your financial future. Leverage Your 15-25% down payment purchases a much larger asset than other investments. Appreciation Your asset can increase in value over time, and
