Submitted by Jim Blankenship on Mon, 07/14/2014 - 12:00pm
Yes, you can tap your 401(k) for a loan even before your legal withdrawal age, although turning elsewhere to borrow is usually a better idea. You should know the rules and pitfalls built into 401(k) lending. They are many.
Submitted by Wes Moss on Thu, 02/27/2014 - 12:00pm
A roof over your head and gas in your tank cost more than ever. But prices for these essentials color your view of investing.
What do your nest egg, retirement planning and personal finances share with the overall American economy? Plenty, especially when it comes to the bite from energy and home prices.
In recent years rising gasoline and heating or cooling costs gobbled up family income, even as a depressed housing market erased personal wealth and left Americans feeling uncertain about their economic prospects.
Submitted by Mary Beth Storjohann on Wed, 02/12/2014 - 12:00pm
Your time has come to grow beyond renting a home. What now?
Gen Y, those born in the 1980s and early 1990s, look today to build equity and save on rent by researching the benefits of owning versus renting. Whether married or single, when it comes to renting and owning, you must consider these questions:
Submitted by Larry Frank Sr. on Thu, 12/12/2013 - 12:00pm
The biggest purchase you likely ever make comes with many potential pitfalls. Here’s how to dodge some.
Home sales do remain sluggish. The number of contracts Americans signed to buy previously owned homes unexpectedly fell in October for the fifth consecutive month. The gauge of pending home sales decreased 0.6% after a 4.6% drop in September, according to the National Association of Realtors.
Submitted by Rick Kahler on Thu, 11/21/2013 - 12:00pm
Want a good way to build wealth? Own commercial real estate. But only if you are willing to undertake due diligence that may not be readily available online, make a big hands-on commitment to mind the investment and exercise enormous patience.
Real estate is one of the largest asset classes in the world. The family home is the largest asset many middle-class Americans own. And real estate makes up a significant portion of the net worth of many wealth accumulators.
Submitted by Michael Kitces on Thu, 10/10/2013 - 3:00pm
Would-be homeowners long turned to the Federal Housing Administration for affordable mortgages. That’s also true for older folks and reverse mortgages, which they use to supplement their income by tapping the equity value of their homes. But the agency is tightening the terms on these loans.
Expanded loan volume paired with what some suggest is a decrease in loan quality have led to increased defaults and depleted FHA reserve funds.
Submitted by Tom Orecchio on Thu, 10/10/2013 - 12:00pm
The day has finally come. Your children graduated from college and started their first jobs. But more importantly, they no longer live with you or depend on you financially. So how do you downsize your home, now that you need less of it?
Downsizing your current home lets you cut down on house maintenance and property taxes. However, while part of it seems quite liberating, it can also be a bit scary leaving the house you lived in for the last few decades.
Here are a few things to consider as you contemplate this next chapter of your life: