Archive for 'Personal Finance'
Bull and Bear tug-of-war
Readers of this blog are probably well aware of the fact that mortgage rates have basically remained in a tight sideways range since mid-January. Followers of the stock market know that the equity markets have effectively traded sideways over that time as well. The WSJ published this article today summarizing two opposing views of stocks [...]
Posted: March 9th, 2010 under Investing.
Tags: 2010, stock market march 9
Comments: none
Using retirement funds for down payment
For many people saving for a rainy day is hard enough as it is. Add on top of that all the other financial objectives a person is typically concerned with (i.e. retirement, college savings, paying down debt) saving for a down payment on a home can be difficult. Because of this I often have clients [...]
Posted: March 3rd, 2010 under Home Purchase, Low Down-Payment, Taxes.
Tags: may I use my 401K for a down payment?, using 401K funds for a home purchase, using IRA funds for a down payment, using my IRA to buy a home, using retirement funds for a down payemnt
Comments: none
The tax implications of lending to family
As I blogged about back on September 14th many first-time hombuyers have received gifts or loans from family members over the past year so that they can take advantage of historically low interest rates, affordable housing prices, and the government’s tax credit. The onslaught of familial generosity is great for homebuyers who would otherwise be [...]
Posted: March 3rd, 2010 under Taxes.
Tags: borrowing money from family, gift taxes and family loans, loans to family, tax implications of personal loans, taxes on loans to family
Comments: none
Tax deductibility of mortgage insurance
With so many homebuyers utilizing FHA mortgage financing in the past year I’m guessing many will have questions related to the tax deductibility of mortgage insurance premiums. Before I jump into detailed tax information let’s do a quick refresher. I also need to tell you that I am not a licensed tax professional.
What is mortgage [...]
Posted: March 1st, 2010 under Mortgage Insurance, Taxes.
Tags: is mortgage insurance tax deductible?, mortgage insurance tax deductibility, mortgage insurance tax deduction, mortgage insurance tax rules
Comments: none
Types of Property Ownership
I’m in the midst of the Estate Planning module in my financial planning curriculum and we are currently studying types of property ownership. Since this is an important piece (although often overlooked) of buying and holding real estate I thought I would provide a quick run down of the various types. I need to warn [...]
Posted: February 17th, 2010 under Personal Finance.
Tags: JTWROS, types of property ownership, ways to hold title, what are community property states?, what is community property?, what is fee simple?, what is joint tenancy, what is joint tenancy with rights of survivorship, what is JTWROS?, what is tenancy by entirety, what is tenancy in common?
Comments: none
How to Opt Out of phone, mail, and phone books
If you’re like me then you don’t appreciate junk mail, phone solicitations, and receiving big bulky phone books that immediately get tossed in the recycling bin. Here’s how to opt out of each:
Phone solicitations- Click HERE.
Credit solicitations via mail- Click HERE.
Phone book delivery (Dex)- Click HERE.
1. go to www.dexknows.com
2. click on the link at the [...]
Posted: February 5th, 2010 under Personal Finance.
Tags: how do I opt out?, opt out of credit offers, opt out of phone book delivery, opt out of phone solicitations
Comments: none
Does the Roth conversion make sense for you?
I am not a wealth manager or retirement planner but I do have a passion for personal finance and as I’ve mentioned before on this blog I am currently enrolled in an Executive Certificate in Financial Planning class at the University of Portland Pamplin School of Business.
I am currently in the middle of our retirement [...]
Posted: January 15th, 2010 under Saving-Spending.
Tags: Roth conversion, should I convert my Roth?
Comments: none
Factoring inflation into investment returns
The WSJ ran this article today on WSJ.com. I can’t tell if the author is trying to employ scare tactics or is genuinely trying to educate investors. The thesis of the article is that when you factor in inflation to the returns of the Dow Jones Industrial Average the results are not as attractive.
This seems [...]
Posted: December 28th, 2009 under Investing.
Tags: inflaton and stock returns, real retuns on investment, the impact of inflaton on investment planning, using inflation on calculating retirement needs
Comments: none
Give the gift of homeownership & philanthropy
The other day my wife shared with me a great story about a college student who borrowed $10,000 from her parents to pay for college expenses. Much like a bank provided student loan the student was expected to begin repayment after graduation. After the student graduated and it was time for them to begin repaying [...]
Posted: December 18th, 2009 under Philanthropy.
Tags: family gifts, gift giving, gifting a down payment, philanthropy
Comments: 2
The Social Security Do-over
I had no idea this was even possible but I was emailed this article from Kiplinger Magazine today. If you click to the second page it describes a situation where a beneficiary began taking reduced benefits at age 62, paid them back interest free, and was able to reapply for higher benefits.
If you’re not familiar [...]
Posted: December 7th, 2009 under Personal Finance.
Tags: social security benefits, SSA 521 do-over
Comments: none
