Do you need to know how to protect assets from a lawsuit? There are many things to keep in mind about asset protection--the most important being that state law is a huge factor--what is possible in some states may not work in others depending on things like community property laws (which govern how debts in a legal marriage are divided up in a divorce), real estate and probate law, etc. The advice below isn't related to mortgage or asset … [Read more...]
Do You Have Coronavirus Credit Problems?
Are you worried about your finances? Has the idea of a coronavirus credit score hit been keeping you up at night? Millions of Americans have been affected by COVID-19 and millions more will experience economic hardship in some form in the wake of massive shutdowns of the U.S. economy. While some fail to grasp the need for social distancing, extreme caution, and a need to think of others ahead of oneself, the realities of the coronavirus … [Read more...]
Protect Your Credit To Survive Coronavirus
That title is pretty sensational, but there are indications in the American economy that credit scores are going to be very important in the era of coronavirus and COVID-19. That’s not based on speculation; mortgage lenders across America are reconsidering their FICO score requirements for home loan approval, making scores in the mid to upper 600 range less of a sure thing for loan approval than they were previously. For the record, FICO … [Read more...]
Hierarchy of Savings – What Should Come First?
It can be difficult to establish a hierarchy of savings. What should come first when you are paying yourself? Three basic areas represent parts of your life that need financial attention; your retirement fund, your money set aside for emergencies, and debt repayment. The last one doesn’t sound like you are paying yourself--at first. But debt management is an important part of establishing financial freedom. Emergency Fund: A Savings Account You … [Read more...]
Why Is It So Expensive To Live In A Major City?
Why is it so expensive to live in a major city? There are many variables; escalating rents, excessive licensing and permitting for small businesses, ever-escalating property taxes, and much more. What follows is NOT journalism. It is OPINION. And that’s a bit of transparency badly needed in today’s 24-hour news cycle reporting. But these are opinions made by observing conditions in a single major city for well over a 10-year period. I’m … [Read more...]