Refinance Your HouseWritten by Carrie Reeder
If you have seen all advertisements regarding refinancing your house you may be wondering if refinancing can actually save you money. The answer is yes! Interest rates are at lowest levels in decades and there has never been a better time to refinance your home. Before choosing a lender to refinance your current mortgage, consider a few key factors and analyze your options. Your current interest rate, length of time you plan to stay in your home, your credit rating, and value of your home are all important issues to consider when looking to refinance your house.
Refinancing your house can save you thousands of dollars over length of your mortgage. Depending on your current interest rate, your monthly house payment could drop by a substantial amount. Even if you have adverse credit, lenders are waiting to give you a quote on refinancing your house. There is no need to apply to many lenders to get lowest rate possible. Online mortgage companies can often give you quotes from multiple lenders, eliminating concerns about multiple inquiries on your credit report.
Refinancing your house can allow you to shorten term of your mortgage without drastically increasing amount of your monthly mortgage payments. If your current interest rate is substantially higher than present prime rate, you could refinance for a shorter term and with potential decrease in amount of interest you pay, your house payments could stay same or increase only slightly. Mortgage brokers are available to give you an accurate analysis of your financial situation. You can receive quotes from multiple lenders, get expert advice on refinancing your mortgage, and save money each and every month.
Retirement Planning - Your Financial Future Is In Your HandsWritten by Kelly Gillis
Retirement planning is for some something they don't think about until they're past time to make most of opportunities available when they were younger. Retirement planners agree that in order to enjoy same lifestyle in retirement that you do now you will need 70-90% of your pre-retirement income. The best part is that it's really never too late to start, or, as old saying goes, "better late than never". Here are some ideas to help you with successful retirement planning at any age.
Most retirement planning specialists will tell you that one of first keys to successful retirement planning is starting early. It's simple, earlier you start saving for your retirement more money you will have due to compounding of dividends and interest. The difference can be startling. If you started saving at age of 40, you'd have to save over three times amount of money that you would have if you had started at age of 25 to have same amount of money at age 55.
Experts agree that you will need three main sources of retirement income, your Social Security, your pension, and your personal savings, (profit sharing, IRA's, or 403 (b) plans). Max out your employer sponsored retirement plans. These are a great way to save for retirement. Along with immediate tax savings these offer, many employers offer incentives such as matching a percentage of contributions. IRA's (individual retirement accounts) are also excellent ways to save for your retirement. This money is put away pre-tax. When you withdraw this money at retirement time you are in a lower tax bracket. The downside of IRA's is that you cannot use this money before a certain age without significant tax penalties.