TheLiveBigWay® Digest: By The Numbers
Reverse Mortgage Mini-Series: Part IV
If you have read the previous pieces in this mini-series, you’ve read about what reverse mortgages are, how they work, when they might make sense, and the general methods through which money can be obtained. Now it’s time for some numbers (our favorite!). Curious to see actual examples of how a reverse mortgage works and how much equity might be able to be accessed? Continue reading for a review of four scenarios.
How Much Does a Dollar Cost?
It may sound like a strange question to contemplate – how much does a dollar “cost”? And depending on who you ask, the answers range from less than a dime (seven and a half cents to be exact) to the price of passing through heaven’s gates. Read on to make “cents” of this question and learn more about the implications for your portfolio.
Lauren Stansell Named to Forbes’ National List
Yeske Buie is proud to share that Lauren Stansell, CFP® has been named to Forbes’ Top Women Wealth Advisors Best-in-State list! Lauren joins a ranking of role models as an advisor who is leading the way in best practices and high-quality client experience. Let’s take a look at Lauren’s accomplishments throughout her ten-year career – they certainly make it clear why she was honored with this ranking. Congratulations, Lauren! We can’t wait to see what professional mountains you crest next.
Word of the Week: 5/1 ARM
Today’s word of the week is inspired our reverse mortgage mini-series. Let’s first expand on the abbreviation: ARM stands for adjustable rate mortgage. A 5/1 ARM is a type of mortgage loan with a fixed interest rate for the first 5 years, and an adjustable interest rate for the remainder of its term. Because interest rates are so high, we’ve seen many people choose this type of loan. You can typically get a lower rate on the 5/1 ARM relative to a longer term fixed-rate mortgage, and then, if it works for you, refinance within the 5-year fixed rate period. Not sure what’s best for you? We’re here to help!
1040 and 1099 Time
It’s tax time and we like to use this space to share regular reminders about the information you need to prepare your annual tax return. As we expected, Schwab has released corrections to some original 1099 forms that were released in February. These corrected forms have been posted to your Schwab Alliance account. If you have any trouble accessing your forms or need assistance as Tax Day nears, please don’t hesitate to give us a call.