Saturday, September 30, 2017

Why a Personal Line of Credit is Better than a Personal Term Loan

Puzzled between a personal Line of Credit and a personal term loan and which is better? Look no further, go ahead and explore more on this as you read on!

Confused between a personal Line of Credit and a personal term loan? You are not alone; many borrowers face such a situation sometimes while deciding a financial product feature. Let’s clear the air.

  • A Line of Credit makes it uncomplicated for you to manage your cash flow better and clear the air to find out why it is better than an average term loan. 
  • A personal loan may be your best option when it comes to optimizing the output of your personal needs or ventures. 
  • It offers a low-interest rate so that you manage the finances even more, without the alarming worry of repayment of the loan amount at an exorbitant interest rate. 
  • A personal loan subscriber is free to select from an array of flexible repayment alternatives and opt for the one that fulfils the current financial needs. 
  • A personal loan is an unsecured loan and does not need any security or collateral or even a guarantor when you apply for it. 

What’s more, it also comes loaded with a variety of add-ons offers to augment the borrower’s experience such as hassle-free and easy-to-use personal loan EMI calculator and online account access. 

But, the best feature of a personal loan is the unique Line of Credit facility that not only provides the personal loan term benefits but also comes with an assortment of extra features that makes it perfect for an individual.

Under Which Scenarios Should You Opt for a Line of Credit

  • Renovating Your Home
  • A Family Vacation 
  • Child’s Education 
  • Wedding Ceremony 
You can use Line of Credit facility for renovating your home, planning a family vacation, funding your child’s education and an upcoming wedding Ceremony and more– and for doing this; you don’t need to apply for a loan many times.

There are also no hidden or extra charges for part-prepayment or foreclosure.

Why Should You Select a Personal Line of Credit Over a Term Loan?

If you wish to get a personal loan from a reputed financial lender, you get the chance to avail a Line of Credit facility as well. 

Many leading financial companies provide the facility to its loan claimants, through which you also become eligible for a fixed loan limit for a pre-determined tenure.
As a result, when you avail the Line of Credit facility, your EMI only includes the interest amount you need to pay, minus the principal component, attached to all payments in the case of the personal term loans. 

With a Line of Credit facility in action, you only repay the principal loan amount at the end of the duration. The personal Line of Credit (LOC) option also lets you manage your cash flows without the need to repay the principal part at the each month-end; you can also channel the same amount towards other personal needs and boost your profits.

The Extraordinary Features of a Personal Line of Credit

Here’s the list of impending reasons why a Line of Credit is a go-to option when considering a new loan:

  • When compared to any other term loan type, your monthly instalment or the EMI (Equated Monthly Statement) via the Line of Credit facility connects only the interest amount charged for that particular month
  • You can carry out any transactions and it is also possible to access all the loan based information online with an exclusive customer portal at your disposal always 
  • Part-prepay of your loan amount on mind? You can do this anytime you want, throughout the year, without the worries of incurring any add-on charges whatsoever 
  • You can also opt for withdrawals or draw down facilities without facing any extra charges whatsoever 
  • With the bullet repayment option in active mode, you can pay off your loan faster at the end of the year
  • If you are already in possession of the term loan and wish to convert to a Line of Credit (LOC), you have the choice to do it at any time and as per your wish
  • You can also measure the total exact interest that you will pay at each month-end with the Line of Credit calculator 

The Bottom Line

You can pay up to 45% lower EMIs on your term loan when you avail the personal Line of Credit facility which many prominent financial lenders offer these days.

You should know that a Line of Credit is a hassle-free version of a personal loan, in which you also get a pre-qualified loan amount. You can withdraw as per your needs and repay only the interest as EMIs; making it an incredible facility that sets you free.

You can use it for anything under the sun – planning a family holiday, renovating the home, upcoming wedding ceremony, funding child’s education and beyond – without having to subscribe many times.

The other perks? You also pay no extra or hidden charges for loan’s part pre-payment or foreclosure.

It would be a wise step to take and apply for a personal Line of Credit with your term loan. Happy financing! 

Insurance Premiums: How to Determine What Your Monthly Pocketbook Can Handle

Insurance Premiums

In this economy, everything is getting more expensive. And with the skyrocketing costs of homeownership, how do you decipher how much you can afford on homeowner's insurance each month? Don't let high insurance premiums keep you from getting the home of your dreams.

Work out a Budget

Don't go through this process alone. You can either sit down with a financial advisor who is trained in this area of expertise, or a friend or family member who is good with numbers, too. 

Write down all sources of monthly income and what percentage of it goes to your other bills such as credit cards, student loans, and car payments. You will also need to factor in the expenses of homeownership, such as monthly mortgage payments, utilities, and taxes. 

Keep your credit score in mind, too, as this will most likely affect what you pay.

Deductibles Will Affect How Much you Pay Each Month

If your deductible is higher, you will pay much less each month than with a lower one. This means a lot more money in the long run if you ever have to file a claim, but your month to month bills with being lower in the short term. 

However, if you live in areas prone to natural disasters, you may have separate deductibles for those parts of the policy. For example, if you live near the water in an area prone to flooding, your flood insurance may have its own, separate deductible.

Always Shop around and Compare Rates

This almost goes without saying. Why would you pay more to one company for the same coverage that costs less elsewhere? The best way to compare rates is to go through an agency that can evaluate numerous companies with your information and give you a list of the best rates, their deductibles, and how much coverage you are guaranteed. 

Some companies, like Rob Jackson Insurance, know that you should make sure when comparing prices that you factor in how much each policy is worth. You might want to go with a slightly higher monthly rate and have adequate coverage than find yourself in a tough spot if disaster hits.

Besides increasing your deductible, there are other things you may do to lower what you pay for homeowner's insurance. Increasing the security on your home, making it more resistant to weather damages, or even revising your policy once a year can all help potentially lower your payments.

Friday, September 29, 2017

Finding the Funds: Tips for Making Life Work Between Jobs

Losing a job can be stressful. One of the things that people stress about the most is how they are going to pay their bills. Fortunately, there are several ways that you can make money while you are looking for a job.

Clean Houses

House cleaning is a task that most people do not like doing. That is why they do not mind paying people to do this job for them. 

There are likely cleaning agencies in your area. You can get paid anywhere from $10 to $30 per hour for cleaning houses.

Sell Items that you do not need

An easy way to make money quickly is by selling things that you do not need. Books, furniture, electronics and kitchenware are examples of some of the things that you can sell. Etsy is a website where you can sell things. 

This website is ideal for people who are creative and like to make homemade products. You can also sell unwanted items on eBay. Additionally, you can have a yard sale.

Walk Dogs

If you are an animal lover, then you should consider walking dogs. You can get paid over $200 per week by walking dogs. One of the many great things about walking dogs is that you have the ability to set your own hours. 

There are many websites that will connect you with people who are looking for someone to walk their dogs.

Get a Consumer Loan

A consumer loan is a secured or unsecured loan that is intended to be used for household and personal expenses. If the loan is secured, then it will have to be backed by collateral. 

Consumer loans by MainSource Bank and similar institutions are typically paid in installments, which means that you will need to make a payment on it every month until you pay it off completely.

Affiliate Marketing

Affiliate marketing is a way that you can make money without even leaving your home. You can make money by promoting other people’s products. If a person’s purchases the product, then you will get a portion of the sales. 

You can promote the product on your blog, website or social media page. There is no cap placed on the amount of money that you can make with affiliate marketing.

Being unemployed can be difficult. The good news is that you can make money by walking dogs, affiliate marketing, selling your unwanted items and cleaning houses. You can also take out a consumer loan.

Thursday, September 28, 2017

4 Steps for Benefiting from the 2% Economical Growth of 2017-2018

Since the worldwide financial crisis of 2008, most developed economies have struggled with growth. Between 2017 and 2018, however, growth in the United States is expected to return to two percent per year, representing a substantially higher rate than recent averages. 

Here are four things you should be doing to financially benefit from faster growth in the US economy.

Purchase a House

If you are still renting your home or apartment, you’re gradually pouring money into an asset owned by someone else. A much better move, regardless of the economic climate, is to purchase a home of your own. In this time of faster growth, however, the benefits are magnified. 

Since rents and property values both tend to increase during growth periods, buying a house will help you save money while building equity. If you are in a position to purchase luxury property, the benefits are greater still, owing to higher values.

Explore New Job Opportunities

When economies grow, so do businesses, which means that companies need to bring on extra staff. At the moment, unemployment is low and the labor market is tight, leading to a large buildup of available jobs. 

This is the perfect climate in which to look into new job opportunities, especially if you have high-demand skills.

Get Serious About Investing

If you haven’t built a serious investment portfolio already, now is the time to get around to it. As the economy grows, share prices typically rise, meaning gains for people who have already bought and higher prices for those who haven’t. 

Putting your money into solid investments now will allow you to capitalize on higher growth rates. If you’re new to investing, consider putting your money into an index fund that will track the movements of a major stock index, such as the S&P 500.

Pay Your Debts

Because it brings the possibility of higher earnings and more job security, a period of economic growth is a perfect time to pay down old debts. 

Ridding yourself of debt is one of the key steps to ensuring your own financial stability. Take advantage of the boom to eliminate debt payments and put yourself on better financial footing going forward.

Wherever your financial life is now, you should be positioning yourself to benefit from the two percent growth projected for 2017 and 2018. If you play your cards right, you’ll be able to improve your finances and let your wealth grow with the American economy.

Wednesday, September 27, 2017

Tips for How to Be Successful As A Small Business

Owning a little business isn't just an occupation; it's a lifestyle. The modest businesses modes disruptive normally imply that setting up a lot of extend periods of time and a lot of drudge to help it develop. Keep a level head and gives the business all the due constancy it merits with many brilliant tips.

Concentrate the Market

It is a direct condition: the extra information you have a couple of market, the higher your modest strategies for success are. Handle World Health Organization to concentrate on, an approach to target them, and once to concentrate on them. The extra right your business' objective market is, the higher you're outlining and deals are.

Be that as it may, wherever could be a brilliant place to begin?

The web, overviews, center groups, or just {about} something that makes communication with people to look out World Health Organization enjoys the stock or administration are decent places to lead investigation about your objective market. 

Nonetheless, get a handle on that your objective market might be a considerable measure of entirely unexpected than anticipated. It ought to be an intense technique; however it's all beneficial inside the wrap up.

Be enthusiastic

It’s a dependable fact that people should move into business related with one thing they're frightfully snared in to. A few people have discovered their specialty. 

Some as yet need. Some don't see their energy till they're kneeing somewhere down in it. However once you find your energy, your drudge won't be along these lines strong.

Market Yourself and Your Business

So you have a solid business orchestrate, a range of business, and each one the red hot energy inside the world, however as of now what? Right now it's a great opportunity to initiate your business out there so everyone knows about with respect to you.

These days, every business will use web-based social networking and on-line local deliver postings to frame its essence eminent. 

Be dynamic, post redirecting content; utilize every one of the apparatuses available to you to initiate people intrigued. Exceptionally demonstrate the demeanor of the business through pleasant film, recordings, and posts.

There is no immediate science to offering. Business house proprietors basically must be constrained to get themselves and their business out there and make mindfulness in any technique potential. 

Regardless of whether it's through public exhibitions, web-based social networking, promotions, giveaways and challenges, flyers, or regardless of various implies that you use. 

Furthermore, on the off chance that you are feeling, for example, you have reached a stopping point and essentially don't get a handle on what to attempt and do, there are a few offices World Health Organization will help you deal with your offering ways.

Have some good times

Maintaining a business might be extremely attempting. However that doesn't mean there isn't enjoyable to be had. A business could be a reflection on the proprietor and World Health Organization they're. 

When things start to instigate vigorous they should basically stop, slowly inhale, and appearance at issues in an exceedingly entirely unexpected light-weight. When house proprietors get joy from the voyage they'll have the capacity to give it all that they have.


We've all recognized those stories of those huge organizations nowadays that began in an exceedingly carport and were built from the base up. Odds are high that they require been inside the shoes of a new company at some reason. 

What's one thing of these business house proprietors have in like manner? They work level out and leave nothing on the table. By making an endeavor to inspect the reassurance in each situation, you might be stunned at what extent fun you'll have the capacity to have.

Author Bio: Ronny Dsouja is a freelance content writer. He has written many good and informative articles on different categories such as Technology, health, fashion, beauty, finance, education, career, travel etc. He is very responsible towards his job. He loves to share his knowledge and experience with his friends and colleagues. To know more about him, please check his Site -

Tuesday, September 26, 2017

4 Exterior Home Improvements That Won't Break The Bank

Your home's exterior needs just as much attention as the inside. When people walk up the driveway, it is the first contact they have with your property, and you want to make sure the experience is a good one. 

A dull exterior can overshadow everything else you have going on in the house. Curb appeal also adds value to your home regardless of whether you are selling or not. With a few changes, you can fix up the outdoors without spending a lot of money.

Affordable Landscaping

A few plants and flower bushes in your front and back yard can brighten up the exterior. The landscaping doesn’t have to be fancy to give the results you want. If you already have a flowerbed, trim it, remove the weeds, and add a bit of mulch. 

Put some flowers in containers and arrange them in front of your home or hang them from the porch ceiling. Run a rake through the yard to clean any fallen leaves, twigs, and branches.

Fit In A Porch Or Deck

Adding a deck or porch will give your exterior that homey ambiance that calls out to visitors from a distance. Online how-to guides can tell you how to install a porch or deck yourself. 

Research the best materials and designs that will match the rest of your exterior décor. Once you have a deck or porch, you can put flowers around it, add a swing or chairs to complete the look.

Take Care Of The Pavement And Driveway

Proper maintenance of your pavement and driveway can give your exterior a whole new look. 

Pressure cleaning is one way you can ensure that these areas stay clean. Professional paving services, like those at Harris Paving Industries, may be needed to repair cracks and other issues with your driveway such as drainage that may be affecting curb appeal.

Spruce Up The Front Door

The front door can make or break your exterior décor. Insist on the best quality door for your front entrance to improve curb appeal and security. If it’s an old door, a fresh coat of paint is the cheapest way to boost its appearance. 

Alternatively, you can get a new door - recycled doors offer unique styles at low costs. Hanging a beautiful wreath will also enhance the look of your front entrance.

The right home improvements can turn a drab exterior into an inviting space without forking out loads of cash. You can easily DIY some of these projects, and get professional help when it matters. 

Take a good look at your home first and decide which improvements will complement the property and highlight its best features.

Sunday, September 24, 2017

How to Financially Handle Unforeseen Circumstances In Your Family

If your family is like most, there never seems to be enough money to go around. Therefore, every dollar that the family does have must be accounted for and spent wisely. 

Unfortunately, there may be circumstances beyond your control that may stretch or break your budget. What can you do to handle those events as best as possible?

How to Handle Automobile Repair Costs

While you may be able to anticipate the need for some car repairs, you never know when your vehicle will simply refuse to start before work one morning. 

Even worse, it could refuse to start in the mall parking lot or when you are out of town. The first thing that you need to do is get the vehicle to a shop and yourself to a safe place. 

When you get the estimate for the repair costs, you shouldn't panic. Instead, ask about any financing programs that a service center may offer. Depending on the reason why your car won't start or otherwise won't run, it may be possible to file an insurance claim. 

If those options aren't available, you can ask for money from your friends or parents. In an absolute worst case scenario, payday lenders may be able to send the money to your bank account within minutes.

How to Handle Unexpected Tax Bills

Most people get refunds from the IRS and from their state government each year when they file their taxes. 

However, if you owe money, it may be tough to scrape together the necessary funds to pay that debt. It may be even harder to pay the bill if you don't know that you owe the money until you file your return in January.

In this scenario, you should request a six-month extension to file your return. Although it doesn't give you an extension to pay, the penalties for not paying on time are generally less severe than the penalties for not filing on time. 

Other options include asking for an offer-in-compromise, which is similar to a debt settlement with other creditors.

How to Handle Unexpected Dental Costs

It is difficult to deal with tooth pain for more than a few hours. Failing to see a specialist at a family dentistry in Roanoke Rapids, North Carolina or one such establishment that is in your area quickly after breaking a tooth could also cause long-term oral and other related health problems. 

In many cases, dentists offer payment plans to help you better afford your care. It may be possible to use personal credit cards or CareCredit to get the work done. 

CareCredit is typical an interest-free loan, which means that you don't have to worry about the expense compounding if it isn't paid off in a timely manner. If you have insurance, your policy may cover some of the work that needs to be done.

How to Handle Unexpected Property Damage

If your home is damaged by a storm, a pest infestation or some other unexpected event, it could cost thousands to repair the damage. If you need emergency repair work to a furnace or some other component to your home, that could cost even more. 

Your first option is to file a claim with your homeowners’ insurance company. Other options include applying for personal loans or using credit cards to pay for the repairs if the insurance claim is denied. In the aftermath of a devastating storm, relief funds may be available to help you rebuild.

There is never a good time for an emergency expense to arise. However, it may not be possible to simply let your car, home or tax bill linger for weeks or months. 

Therefore, knowing where to go to get help paying those expenses can keep your family safe and healthy despite your financial issues.

Friday, September 22, 2017

How to Decide if Bankruptcy is Right for You and Your Situation

There are several things bankruptcy can do and several things it cannot do. Bankruptcy can discharge most unsecured debt such as credit cards, past due utility bills, business debts, medical bills, and civil court judgments. 

Secured debts such as mortgages and auto loans can be discharged if you no longer want to retain the property. Bankruptcy cannot discharge debt for child or spousal support, student loans in most cases, restitution owed for damages or injury to others, payroll taxes, and more.

Qualifying for Bankruptcy

Debts discharged in bankruptcy can depend on the type of bankruptcy you file. Chapter 7 discharges all allowable debts and leaves you with a clean slate. Chapter 13 is debt-consolidation that allows you to pay off your debt within a few years. 

Chapter 11 is similar to chapter 13 except it's applicable to businesses. For the best information on dischargeable debts that are specific to your situation and the type of bankruptcy you should file, you should contact a bankruptcy attorney. 

Professionals, like those at the Law Office of Barbara B. Braziel, realize that The Bankruptcy Reform Law of 2005 tightened the filing eligibility by establishing a means test for filing bankruptcy. 

As a result, fewer people are now eligible to file for bankruptcy. Your income must be less than the median for your state in order to file. If it exceeds the median for your state and you have money to pay some of your bills, you are ineligible to file.

Determine if Bankruptcy is the Solution

If you're eligible to file, you might consider a few more criteria to determine if this is indeed the best solution for you. Bankruptcy has long-lasting ramifications, so it should be the last option rather than the first one. 

You'll be required to obtain financial counseling and the negative impact will be on your credit report for at least 10 years. You must be comfortable with the concept of walking away from legitimate debts and realize that you may feel guilty for doing so.

Consider Other Options

There may be options other than bankruptcy that would work for you. Instead of filing for chapter 7, you may be able to file chapter 13 and pay off most of your creditors. 

This would be significantly less detrimental to your credit score. If you can foresee an improvement in your financial situation in the near future, you might want to delay filing bankruptcy.

Make Permanent Changes

Often, filing bankruptcy is only a temporary solution because an individual's poor financial habits don't change. 

If you decide to file, you should seek credit counseling so that you don't end up in the same financial quagmire in the future. Making positive changes to your financial attitude is the best solution to avoiding bankruptcy.

Sometimes, situations occur that necessitate filing for bankruptcy. Often, it's circumstances over which you have no control, such as a catastrophic illness or accident. 

If filing for bankruptcy is the best solution for you, then by all means avail yourself of it, but realize that it's a temporary solution and do your best to change your future financial habits.

Thursday, September 21, 2017

Learn How Smartphones Can Help You Grow Your Retirement Nest Egg

Your retirement may be close, but you've got plenty of time to grow that nest egg. Your smartphone is a potentially untapped resource for growing your retirement money, so make sure you take advantage of the opportunities it presents.

Use Investment Apps

Personal finance apps like E*Trade let average people invest in the market without a broker. Before you jump on personal finance apps, do some research about the types of investments you want to make. 

Many people later in life prefer safer investments, though there is definitely an advantage to short-term investments that could bring higher returns. As long as you understand what investment strategy you're comfortable with, you're ready to try out an investment app.

Start slowly until you get the hang of how it works. Investing is difficult even for the pros, but one piece of advice endures: invest in businesses and people, not in market trends. 

If you know about or can learn about a business, entrepreneur, or an industry, center your investments there. Industry information will be more helpful than trying to analyze what the market is doing.

Save Spare Change

Getting the money to invest can be a struggle. If you have kids in college, have medical bills to pay, or are on a fixed income, you may not have much saved for investing. 

A spare change app rounds up every debit card transaction you make and puts the spare change into a separate account. Then, most of those apps, like Acorns, invest or save that spare change for you.

You don't have to put in a lot of effort in the investments, because the app companies have financial advisers creating portfolios for the app users to invest in. Spare change apps have another advantage: the minimums for investing are very low. 

You don't need $1,000 to open an account; the amount is more like $5 or $10, an easy amount to accumulate in spare change over a month.

Create a Budget

You're no stranger to making a budget, and you've probably had money pulled from your paycheck for your 401k for years. When you reach your 50s, it's time to make a more aggressive investment budget. 

Take a look at your finances, especially your expenses and how much you're saving. If you're not saving much each month, try to trim some of those expenses so you can put away more money. 

Switching from digital cable to a streaming service like Hulu can save you almost $100 each month, for example.

Use a budgeting app like PocketGuard to keep track of exactly where your money is going. A visual will help you discover places you could be spending too much. When you set aside savings each month, remember to invest some. 

However you decide to invest, whether on your own or through a financial adviser, make sure some of that money is going into a higher-yield account than your savings.

Video Chat With Financial Advisers

We don't all have time to visit a financial adviser's office in person, especially with kids in high school, doctor's appointments to go to, and homes to care for. 

But fitting in an appointment with a financial adviser becomes easier when you do that appointment via video chat. Let your adviser explain your financial information face to face instead of over an impersonal phone call.

For a successful video chat experience, use the right equipment and the right network. Let's face it, using new technology isn't always the easiest, and focusing on a small screen while trying to talk to another person can be frustrating. 

Focus on finances, not on a bad video connection, by connecting with a quality smartphone on a good network. The Galaxy S8, paired with T-Mobile's 4G LTE network, for example, is a great combination. 

The Galaxy has a 5.8-inch infinity screen with a sharp display, and 4G LTE will give you a high-quality video connection.

It's never too late to start saving for and investing in retirement. Personalize your investment strategy with your smartphone, whether you use it to connect with a financial adviser or choose to manage your own investment apps.

Impact of GST on Insurance Premium

Goods and Services Tax (GST) and Insurance

The implementation of GST is aimed at reducing the burden of double taxation from the price of goods and services was a positive move to restructure India’s current tax system. However, this restructuring has impacted various sectors of the economy, including insurance, in different ways.

The insurance sector is a buzz and concerned with the hike in the percentage of taxes to be paid on the premium component of a policy. 

Earlier the highest tax percentage for a policyholder was 15%; with the implementation of GST, the percentage has increased by 3% resulting in levying a maximum of 18% of taxes on premium value.

Insurance Sector in India

Insurance Sector is an upcoming area in India and only a small percentage of population opts for insurance policies. In 2016, the fraction of people opting for insurance saw a dip in overall percentage and recorded a low of only 2.6% in insurance subscription or renewal from existing policy holders. 

Therefore this increase in percentage of taxes from 15% to 18% is seen as a great concern from the insurance sector.

Impact of GST on Insurance premiums

Tax on health insurance, family health insurance, auto insurance, travel insurance, corporate insurance and various other non-life plans would be 18%. For general insurance, corporate insurance holders can enjoy input tax credit on the GST paid on their policies.

Future of Insurance for policy holders

Though the increase in tax percentage is likely to create short term inflation, this change must not undermine the importance and benefits of insurance for the policyholder and their loved ones. 

Financial and health cover for an individual and their loved ones is of utmost importance and must not be neglected. Such covers protect a policyholder with facilities like cashless hospital services in case of individual health and family health insurance.

GST and India

GST is implemented to eradicate the twofold taxation on the price of goods and services. Indirect taxes will have an impact because of GST and a comprehensive restoration of taxation is about to happen in India. 

Though it proves to be difficult for the time being to bear a higher tax value, Indian economy will surely benefit from the implementation of GST. Simplified taxation on cost price and reforming the indirect tax plan is the prime objective of bringing GST to the forefront.

To conclude, GST is a way to control and simplify the confusion in the Indian tax sector. Always insist on knowing the premium value excluding GST to know the exact amount of premium paid. Take help from online aggregators to compare various policies and arrive at the desired cover.

Investing Insight: Pros And Cons Of Condos Vs Homes

If you're thinking about purchasing a condominium unit or a home then there are a number of differences that you should be aware of before making your decision. 

You need to understand what a condominium actually is and how it differs from an apartment or home for starters. There are a number of personal and financial considerations that can tip the scale in favor (and against) condo ownership, so let's get started.

Condo Pros And Cons

The first upside that a lot of consumers appreciate about owning a condo is that their mortgage payments are far more manageable. 

Even with a 30-year home mortgage you could be talking about monthly mortgage payments in the thousands, which would seldom be the case with a condo in most areas.

With a condo you also don't have to worry about landscaping and trash collection as you normally would with a home. Those kinds of services are usually covered by the condo association and taken care of with your monthly condo assessments. 

With both condos and homes you may pay property taxes. A lot of people might also have a problem with all of the condo association's rules - like what you're allowed to renovate in your unit or the kinds of pets that you're allowed to have in your condo unit.

On the plus side condo ownership can mean an attractive urban unit in the heart of the city at relatively little monthly expense in terms of mortgage payments and biannual property taxes.

Pros Of Home Ownership

The first pro with a home is that there's usually much more space for you to entertain your guests and do what you like. 

You can have as many pets as you want without worrying about condo association rules, and you can have guests stay into the wee hours of the early morning. You'll have more indoor space too with most homes. Any upgrades you make will increase your curb appeal and likely home re-sale value as well.

Cons Of Home Ownership

The downside is that, although you'll have fewer rules to negotiate, you'll have to maintain your own lawn unless you go with a lawn service. 

You might also pay more on a monthly basis as far as mortgage payments or taxes go. It's possible your home could depreciate in value over the lifetime of your investment.

The amount that you're willing to pay towards your mortgage and property taxes, the amount of independence that you need, and the kinds of opportunities in your area will likely determine whether you become a condo or home owner. 

Checking in with real estate professionals, like those at RE/MAX Associates San Antonio, can make the decision easier. If you're still struggling, though, remember that a condo comes with rules and monthly assessments. 

Home ownership, on the other hand, likely means more maintenance but the chance to make a healthier profit at closing when you go to sell and independence until you go to do so.

Wednesday, September 20, 2017

7 Late-Stage Retirement Techniques That Allow you to Play Catch Up

If you’re fast approaching the retirement stage of your life with minimal savings, you may have cause for worry. But taking the necessary precautions now with the following 7 retirement techniques can help increase your nest egg and without a lot of sacrifice. 

Work Your 401(k)

Benefits such as an employer matching retirement program equate to a valuable perk when looking for a job. If your employer offers a 401(k) program through work, you need to fund it to the highest level you can afford. 

After paying your mortgage, utilities and other household expenses, place the remainder of your funds into this account. If you’re 40 years-of-age and put away close to $17,000 each year, you could accumulate over $1 million by the time you reach 65.

Know Your Healthcare Options

Healthcare coverage is integral at any age as it covers important health services such as doctor, emergency and hospital visits. With the right plan, you also won’t have to use your retirement savings to pay for medical expenses incurred as you age. 

 During your employment, your employer may pay the majority of the premium and leave the responsibility of the deductible to the employee. If you’re 65 and older or you receive social security disability insurance or end-stage renal disease, you’re eligible for Medicare.

Re-Tool Your Budget

Savings can add up quickly if you re-tool your household budget. Take a look at your spending for the previous month to determine the areas where you can tweak. If you normally enjoy a latte at your local cafe, skip the coffee run and make your own blend at home. 

Dining out can be another major household expense. Instead of going out to eat regularly, whittle it down to once each month or on special occasions.

Bank Additional Money

The rewards of working hard at your job are usually shown through a holiday bonus and raise. While you may want to spend the additional income on frivolous things such as a T.V., bank the additional money instead. You’ve never had this amount of money before, so you won’t miss it. 

The same advice can used if you get a tax refund from Uncle Sam. As long as you can live comfortably and pay your loans and bills on time, putting the money away for your future will help boost your retirement nest egg.

Eliminate Debt

Debt placed on credit cards quickly can add up. If you can’t afford the items that you’re placing on your charge cards, don’t make any new purchases. If you’re looking to pay down debt, begin by paying off cards with the highest interest rates. 

You may also be able to take advantage of transfer balance cards with zero interest. The sooner that you stop overspending and pay down the amounts on your credit cards, the sooner you’ll have more money to save for your retirement. 

If you feel like your debt is at the point where you will never be able to catch up, you can look at benefits of Chapter 7 bankruptcy. Although this type of bankruptcy discharges most debt, typically, there are income limitations. 

It’s imperative you look at all your options before you lean towards a bankruptcy. Some people even look into getting a 0% APR credit card to give them more time to pay off their credit card debts.


As parents age, their lives change. While you were once consumed with raising your family, you may now see yourself as empty nesters. As your children leave the home to go off to college or get married, you don’t need as big a dwelling as before. 

This is the ideal time to downsize your living arrangements. From a condo and townhome to a smaller house, the possibilities are endless. If your home is paid off, use the funds to pay for your new dwelling. Additional money left from the sale will all go toward your retirement account.

Convert Assets

Assets such as jewelry, antiques and other collectible items may be worth a lot of money. This type of collection could be converted into a proper retirement investment. 

Make a list of the items that you have such as a boat you no longer use, vacation home that’s too far or expensive hobby that’s collecting dust. Do your homework to determine fair market value for the items. Once sold, you can boost your retirement savings significantly.

Whether you were a procrastinator or you had other outlets for your money such as putting your kids through college, your retirement account may have taken a hit. The good news is that with the above techniques, it’s never too late to play catch up.

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