With the housing market crash of 2008 a distant memory and home prices back on the rise, many investors are looking to real estate as a way to diversify their investment portfolios. But let’s be honest -- investing in real estate is a big commitment, and it’s important to really understand the ins and outs before diving in.
Paying off a primary mortgage is important, which is why so many people give it priority over other financial goals. However, this might not always be the best method to grow your wealth. A mortgage can definitely hinder your ability to save, but there are some situations where saving and investing should come first.
Setting a manageable budget is hard enough on a fixed income. After all, emergencies or unplanned expenses can add a lot of variables to your budget, even if your income doesn’t change. So what happens when your income changes from month to month? How can you set a budget that works for you?
Supplemental group insurance can be a great way to add an extra layer of security in your life. However, like any form of insurance, you will need to weigh the costs and benefits of adding to your existing plans. This begs the question: is supplemental group insurance the right option for you?
Though they have been around since the 1970s, 401(k) plans are still one of the best ways to save for retirement. However, the 401(k) savings vehicle has evolved a lot over the past two decades and now, many 401(k) plans allow for Roth contributions.
Helping them develop healthy financial habits is certainly no exception to that rule. Thankfully, there are a number of practical ways to teach children the value of a dollar, and put them on the early path toward financial success. Here are a few that we believe are the most important to instill in the next generation.