Tuesday, October 4, 2022

Steps You Can Take to Grow Your Savings Before Retirement

No one knows how long they will live, but most people want to ensure they have enough money saved to cover their retirement costs. There are many steps you can take to help make sure you have enough money saved when you retire.

Save Early and Often

It may seem like a no-brainer, but one of the best things you can do to ensure a comfortable retirement is to start saving as early as possible. 

The earlier you begin saving, the more time your money has to grow. For example, let’s say you start saving $200 per month at age 25. If you earn an annual return of 7%, by the time you retire at age 65, you will have nearly $500,000 saved. 

However, if you wait until age 35 to start saving, even investing the same amount each month, you would only have about $250,000 saved by retirement – half as much as if you had started 10 years earlier. 

Time is your friend when it comes to growing your savings! If you have questions about how much money you should personally be saving each year, work with a wealth management professional.

Invest in Yourself

Investing in yourself is one of the best investments you can make. When it comes to retirement savings, there are a few different ways to invest in yourself. 

One way is to contribute to a 401(k) or another employer-sponsored retirement plan. If your employer offers matching contributions, that’s even better! Another way to invest in yourself is to open an Individual Retirement Account (IRA). An IRA is a savings account that offers tax advantages for those saving for retirement. 

There are two types of IRAs – traditional and Roth – and which one is right for you depends on your current income and tax bracket.

Live Below Your Means

One important step you can take to grow your retirement savings is to live below your means. This means spending less than you earn and Investing the difference. 

When you live below your means, it frees up extra money that can be used to save for retirement or pay down debt. 

It may not be easy, but living below your means now will pay off later when you don’t have to worry about where your next paycheck is coming from.

There are a number of steps you can take to grow your savings before retirement. Save early and often, invest in yourself, and live below your means. By taking these steps now, you can enjoy a comfortable retirement later.

Sunday, October 2, 2022

What Does it Mean to Get a Raw Land Loan

Many people dream of building a custom home on an untouched piece of land, but that type of project can become quite complicated if you don't plan ahead.

In addition to designing the house and setting up the utilities, you will also need to consider your loan options for purchasing the land itself.

Traditional Home Loans

There are dozens of different home and land loans to choose from, and each financial product is for a very specific situation. The type of loan that you will need to acquire depends on some key factors, and that includes the state of the land, how the land is zoned, and what types of structures you are building. 

For a piece of land that doesn’t have any structures or utilities, you most likely won’t be able to use a traditional home or construction loan.

Overview of Raw Land Loans

A raw land loan allows you to buy a piece of property that doesn’t have any existing sewage lines, electrical lines, wells, or structures. 

With that type of loan, you will need to verify that the land has had no previous improvements carried out on it, and that means there is no collateral other than the land itself. 

You must also verify that the land is properly zoned for personal residences, growing food, raising animals, and any other uses you are considering.

Finding the Right Lender

To purchase the property, you will need to work alongside a reputable lending company, someone like Raw Land Lenders, that has experience with those types of loans. Purchasing raw land is slightly more complicated than most people realize, and there will be a few extra steps that must be carried out. 

Your lender will need to know exactly what you plan on doing with the property and take an extensive look at your current financial situation.

Getting Approved

The approval process is carried out over a few steps, and you should start getting your finances in order well before you send out any applications. 

Improving your credit score is a great start, but building up a sizable down payment is going to be necessary as well. You will also need to research the land and come up with a comprehensive plan for what you are going to do once you are approved. 

Lenders want to see buyers who have done their research and have an actionable plan in place.

Purchasing raw land can open up countless opportunities, but getting a loan for an undeveloped piece of property is going to take some time. Luckily, with a little bit of patience and some assistance from a reputable lender, you could be building on your land before you know it.

Friday, September 30, 2022

Who Qualifies for Social Security Disability Benefits?

There are several programs administered by the Social Security Administration (SSA) that provide financial assistance to individuals with disabilities.

The two main programs are Social Security Disability Insurance (SSDI) and Supplemental Security Income (SSI). To qualify for benefits under either program, applicants must meet certain medical and non-medical requirements.

What Is Considered a Disability?

The first step in determining whether or not you qualify for benefits is understanding what the Social Security Administration (SSA) considers a “disability.” 

To award benefits, the SSA defines a disability as the inability to work due to a medically determinable physical or mental impairment that is expected to result in death or last at least 12 months.

In order for your condition to meet this definition, it must completely prevent you from being able to perform basic work activities. Additionally, your condition must be supported by medical evidence from qualified sources.

What if Your Condition Is Not Listed?

Just because your particular condition is not listed in the SSA’s Blue Book doesn’t mean that you won’t qualify for benefits. The SSA will consider all of the facts in your case, including your age, education, past work experience, and residual functional capacity (RFC), in order to determine whether or not there are other types of work that you can still perform, given your limitations. If the SSA finds that there is other work you can do, then your claim will be denied.

Medical Requirements

In addition to qualifying conditions, applicants must submit medical evidence documenting their disability to the SSA. This evidence can come from doctors' notes, hospital records, test results, etc.

Gender and Age Requirements

There are no gender requirements to qualify for social security disability benefits. However, there are age requirements. Applicants for SSDI benefits must be 18 years or older. For SSI benefits, applicants must be 65 years or older, blind, or permanently and severely disabled.

Work History Requirements

As mentioned earlier, there is a work history requirement to qualify for SSDI benefits. To qualify for SSDI benefits, applicants must have worked in jobs covered by Social Security for a minimum number of years. 

The number of years required depends on the applicant's age. SSI does not have this same requirement, although you still need to be a citizen or a certain type of legal alien.


If you think you may qualify for social security disability benefits, the best thing to do is reach out to the SSA directly to discuss your unique case. You can also look for a law office in your area that specializes in SSDI cases. An attorney will know how to navigate the system and can make things a lot easier for you. Every case is unique, but hopefully, this post has given you a general idea of who qualifies for Social Security Disability and how to utilize these benefits.

Thursday, September 29, 2022

Reasons to Inspect Your Old Home's Pipes Each Year

If you live in an older home, then you should consider having your pipes professionally inspected at least once a year. Those inspections take very little time to complete, and they are going to greatly reduce your risk of common plumbing issues that could wreak havoc on your home.

Quickly Find Leaks

Anyone who owns an older home should expect to deal with at least a few plumbing leaks, and that type of damage can quickly spiral out of control and cause a wide variety of problems. 

In addition to destroying nearby materials, a plumbing leak could also waste thousands of gallons of water yearly. For leaks in older homes, a plumber might suggest cured in place pipe lining installation services that will quickly seal multiple cracks and openings at once.

Prevent Pest Infestations

Whenever there is standing water or a slow leak in a home, the risk of a pest infestation skyrockets. Many bugs and rodents will immediately leave a home if they can’t find a consistent source of water from the plumbing system. Taking care of leaks as quickly as possible will prevent a major infestation that spreads all across your property.

Avoid Mold Growth

Many homeowners don’t realize just how dangerous a mold outbreak can be, and that issue is very common in older homes. As soon as mold finds a dark and wet environment, it will begin to release spores that spread to other rooms and all along the pipes. 

When a mold outbreak isn’t taken care of right away, it could have a big impact on your family’s health and comfort. If you find a mold outbreak, you should contact a mold remediation company to explore your options for removing the spores.

Catch Minor Damage Early On

Finally, those who have an older home should schedule annual plumbing inspections so that they can catch minor damage before it becomes a serious headache. 

No matter how well you maintain your pipes, the damage will occur over the years. Your plumber can carefully inspect the inside and outside of the pipes and give you a thorough report on potential problems you might run into in the future.

Changing out faucets and other basic maintenance can typically be completed by the average homeowner, but most repairs should be left to a licensed plumber. 

Those professionals have extensive training and the specialized tools that are needed to complete plumbing jobs quickly and safely.

Wednesday, September 28, 2022

Applying for Social Security? How to Navigate the Process

Applying for social security can be a daunting task. There are many forms to fill out and documents to submit. The process can be time-consuming, but we're here to help.

In this blog post, we'll outline the steps you need to take to apply for social security. By following these steps, you can make sure that you're completing the process correctly and promptly.

Gather the Required Documents

To apply for social security, you'll need to provide proof of your identity, age, and U.S. citizenship or residency status. You'll also need proof of your work history, including W-2 forms or self-employment tax returns. 

If you served in the military, you'd need your DD-214 form as well. Be sure to have all of these documents on hand before beginning your application.

Create an Account

Create an account on the Social Security Administration's website or visit your local Social Security office to apply in person. Once you've created an account or gathered all the necessary paperwork, you're ready to begin filling out your application. 

Be sure to answer all questions truthfully and accurately. Incorrect or missing information could delay the processing of your application.

Submit Your Application and Wait for a Decision

Once you've submitted your completed application, it will be reviewed by a Social Security representative. They will determine whether or not you're eligible for benefits and how much you'll receive each month. You should receive a decision within two to three months after submitting your application.

Work With a Lawyer

If you're considering applying for social security, you may want to work with a disability lawyer. A disability lawyer can help you navigate the application process and ensure you're eligible for benefits. 

They can also help you appeal a decision if your application is denied. If you're considering applying for social security, contact a social security disability lawyer today.

Applying for social security can seem daunting, but it doesn't have to be! By following these steps and gathering all of the necessary documentation, you can ensure that you're completing the process correctly and promptly.

Sunday, September 25, 2022

Financial Advice To Start Following Now

Regarding your finances, there are always plenty of details that should never be left to chance. If you choose to simply deal with your finances as they come rather than plan ahead, you are setting the stage for one problem after another.

If you want to make sure your finances and other related areas are in order and stay that way, here is some important financial advice you should start following right away.

Create a Budget

If you are constantly struggling to pay your bills and have no idea why it is time to not only create a budget but stick to it once it's finished. 

By knowing exactly how much money you are spending on various expenses, you can often find areas where cuts can be made. Before you know it, you may have more money available to pay your bills than you imagined.

Don't Put Off Estate Planning

Rather than try to scramble about later in life and throw together some type of estate plan, start early so that you know exactly what you want to do in the years ahead. 

To begin with, work with an attorney who specializes in wills since this will help you create a will that can stand up to any legal challenges that may arise. You should also take out life insurance, especially if you have a family who is dependent on your income.

Invest for Retirement

No matter your age, it is never too late to invest for your retirement. If you are employed by a company that offers you a 401(k) plan, definitely take advantage of this and invest the maximum amount allowed, since the company will probably match your contributions. 

If you don't have a 401(k) available, set up a Roth IRA so that you can build up a nest egg before you retire.

Pay Down Debt

Last but not least, do all you can to pay down any debt you currently owe, especially credit card debt. As interest rates have risen higher and higher in recent months, it is becoming more expensive to carry credit card debt. 

Once you have your budget in place, take any money you cut from certain areas and try to apply it to pay off your credit cards.

While you know a penny saved is a penny earned, you also know it can be difficult in today's world to make ends meet. However, by getting serious about your finances and seeking out the advice of professionals, your financial situation can begin to improve quicker than you expected.

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