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How Much House Can I Afford to Buy?

How Much House Can I Afford to Buy? 1

If you are thinking about buying a house, you might be wondering, “how much house can I afford?” There is a significant distinction between what the bank will lend you versus what you can afford to pay. In general, a good rule of thumb is to┬ápay less than 25% of your income toward your monthly … Read more How Much House Can I Afford to Buy?

Best Investments in Low Interest Rate Environment

Calculate home value

Low interest rates might be good for the economy and consequently for the Stock Market; however, it is no laughing matter to the millions of seniors that depend on fixed-income investments for their retirement income. With the current Treasury yields below 1% (see  Treasury.gov), investors are finding that the low interest rates make it difficult … Read more Best Investments in Low Interest Rate Environment

10 Extra Costs When You Buy a New Construction Home

10 Extra Costs When You Buy a New Construction Home 17

When you purchase a new construction home, there are several hidden costs that you might not think about. The normal costs of homeownership like mortgage payments (e.g., principal and interest), property taxes, homeowner’s insurance, and utilities are obvious. Other costs, though, can come as something of a surprise. When we bought our home (a new … Read more 10 Extra Costs When You Buy a New Construction Home

How to Start Investing in Stocks for Beginners

Investing Decisions Tree

Investing in the stock market is one of the most accessible and reliable ways to build wealth and generate passive income. It is statistically possible, to invest $100 a month and become a millionaire by the time you turn 65. Regardless of when you start and how much money you can invest, there is something … Read more How to Start Investing in Stocks for Beginners

Best Retirement Plans: Differences and Overview

Understanding your retirement accounts

In the United States, it is quite common for individuals to leave it up to their employers to kick start the retirement planning efforts of the individual by enrolling them in a 401(k) or other employer-sponsored retirement plans. However, there are many plans beyond your standard 401(k) plan that could potentially do a better job … Read more Best Retirement Plans: Differences and Overview

401(k) Contribution Limits for 2019 and 2020

401(k) Contribution Limits for 2019 and 2020 31

According to the IRS, the combined total contribution you can make to all of your 401(k) plans (including traditional 401(k), Roth 401(k), and individual 401(k) plans) in 2020 increases by $500 to $19,500. The catch-up contribution limit also increases from $6,000 to $6,500. However, you may be limited by what your employer allows you to … Read more 401(k) Contribution Limits for 2019 and 2020