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4 min read

Yours, Mine & Ours: How Couples Counselors Say You Should Talk About Money

By EveryIncome on 5/12/23 10:00 AM

When we fall in love, everything is idealized. We promise to spend our lives together. We make plans for the future. And we often forget to talk about money.

As more couples wait until later into adulthood to get married, it becomes more of a challenge to blend households, says Ted Chapin, Ph.D., President of Chapin & Russell Associates in Peoria, Ill., and a licensed clinical psychologist.

Topics: Financial Planning Planning in Advance Financial Wellness Financial Literacy
2 min read

Avoid Spending Too Much In These 4 Areas

By EveryIncome on 5/1/23 10:00 AM

Budgeting seems to come naturally for some people. For others, however, it takes research, discipline, and shrewd analysis. Americans sometimes overspend in unexpected areas; small purchases can add up fast, and some recurring charges are easy to miss. If it seems like you’re spending just as much as you’re taking in, evaluate your spending in these four areas. By making a few small changes (or some big ones), you can improve your spending habits and keep your finances in check.

Topics: Planning in Advance Budgeting
4 min read

Which Type of Business Ownership Is Right for You?

By EveryIncome on 4/28/23 10:00 AM

Before launching your new venture, you’ll need to determine which type of business ownership works best for your situation.

Topics: Planning in Advance Small Business Financial Wellness
6 min read

Long-Term Care Insurance: When to Buy It & More

By Coventry on 4/21/23 10:00 AM

For many seniors, long-term care (LTC) insurance—an insurance policy that helps pay for chronic medical care—can be a worthwhile choice. After all, nearly 70% of seniors aged 65 or older will require some form of long-term care in their lifetime—a service that can be prohibitively expensive, setting families back thousands of dollars a month.

But is long-term care insurance worth it? This policy tends to come at a steep price: in the U.S., for example, the average 55-year-old man pays an annual premium of $2,220. And thanks to insurance marketing tactics, potential buyers often believe that they’ll spend years in a nursing facility—which isn’t always the case.

Topics: Long-Term Care Financial Planning Extended Care Planning in Advance Long-Term Care Insurance Insurance
3 min read

Which Is Better, an Annuity or an IRA?

By EveryIncome on 2/24/23 10:00 AM

“Should I buy an annuity with my 401(k) or roll my 401(k) into an IRA?” Many people struggle with the annuity vs. an IRA question as they approach retirement.

Before we delve into the pros and cons, it’s important to understand the nature of each type of retirement plan. Below are brief descriptions.

Topics: Retirement Planning Life Insurance & Annuities Financial Planning Planning in Advance Retirement Retirement Plans
2 min read

Can You Live off Dividends in Retirement?

By EveryIncome on 2/20/23 10:00 AM

A dividend is a return on your investment paid out at intervals throughout the year, typically on a quarterly cycle, by the company in which you purchased shares.

Established, financially secure companies are more likely to issue dividends, an indication that funds are plentiful and that the company is able to both reinvest in its operations and reward shareholders.

Many investors put their money into dividend-paying stocks because they offer a significantly better return than bonds, and they are typically not high-risk investments.

Topics: Retirement Planning Financial Planning Planning in Advance Retirement Financial Wellness Financial Literacy
5 min read

Should I Refinance My Mortgage to Pay Off Debt?

By Home.com on 2/6/23 10:00 AM

If you’re saddled with significant debt, you might wonder if refinancing your mortgage to pay off debt is a good idea.

Millions of Americans are dealing with consumer debt—estimated to have increased to $15.31 trillion in the third quarter (or Q3) of 2021, an increase of 5.4% or $772 billion.

And consumer debt is not the only kind they have to figure out how to repay. 

Topics: Planning in Advance Loan Financial Wellness Financial Literacy Debt
2 min read

Income-focused Investing for Beginners

By EveryIncome on 1/23/23 10:00 AM

Investing for the future can be daunting, and people have different priorities and financial strategies.

While some investors are attracted to taking more risks, especially when they’re young and have time to recover, many investors prefer an approach that yields peace of mind over wealth accumulation.

This approach, known as income-focused investing, emphasizes the virtue of stability and embraces a “slow and steady wins the race” ideology.

Topics: Financial Planning Planning in Advance Investing Financial Literacy
6 min read

The Right Way to Use a Credit Card in Place of an Emergency Fund

By EveryIncome on 1/20/23 10:00 AM

Emergencies aren’t fun and they are even worse if you don’t have an emergency fund saved. In today’s tough times, many people have either blown through their emergency fund or just weren’t able to save one. 

That doesn’t mean that emergencies won’t happen, though. So, what are you to do? 

You’ve heard credit card debt is bad and who wants to put themselves further into debt, right? While it’s not ideal, a credit card can bail you out in an emergency. 

Here’s what you need to know to keep it from putting you further into debt. 

Topics: Financial Planning Planning in Advance Financial Literacy Emergency Savings Savings Budgeting
5 min read

When Will Interest Rates Go Down?

By Home.com on 1/13/23 10:00 AM

Mortgage rates have been consistently on the rise as the Fed struggles to battle inflation. 

With a recession looming in the distance, you might ask yourself: “Is now the right time to buy a house?” 

It’s an understandable question considering how inflation has soared, house prices are high, and mortgage rates keep rising in response. No one wants to make a wrong financial decision. 

But it might not be a bad financial decision to buy a house right now. Let’s talk through mortgage rates, how they work, and whether or not today is the right time to buy a home, given the state of the market.

Topics: Financial Planning Planning in Advance Loan Financial Literacy Budgeting

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