At Ease Personal Finance

Time to Re-finance Your Home Loan

noreply@blogger.com (At Ease Personal Finance) — Sat, 26 Jan 2013 17:19:00 +0000

If you have not looked into re-financing your home loan in the last few years, now is the time. If you have an adjustable rate mortgage (ARM), a no interest loan or even a fixed rate mortgage now is the time to look into re-financing. With rates lower than 4% many people with good credit can go from a 30 year fixed to a 15 year fixed with a lower rate and the same payment or from a 30 year fixed into a 30 year fixed with a much lower payment. Many students in my real estate classes have lowered their 30 year fix rate loan payments by as much as $600 a month. You have to have good credit as the banks are still a little worried about new loans but you can get the deal of your life in today's market. Good luck.

Fannie Mae and Freddie Mac Delay Foreclosures During the Holidalys

noreply@blogger.com (At Ease Personal Finance) — Mon, 17 Dec 2012 17:28:00 +0000

Fannie Mae and Freddie Mac delay foreclosures during the holidays. Other large banks will also put a hold on foreclosures as well to help families having trouble paying their loans. Given this extra time hopefully these homeowners will be able to find ways to modify their loans.

See: http://www.cleveland.com/business/index.ssf/2012/12/local_banks_fannie_mae_and_fre.html

Tax Planning 2012

noreply@blogger.com (At Ease Personal Finance) — Fri, 09 Nov 2012 17:50:00 +0000

As we come to the end of the year make sure you are planning how to prepare your taxes for 2012. Make sure to save all of the tax documents like W-2s mortgage statements and other documents to show your income and expenses. You should also recommend the same to your children who worked this year, maybe for the first time, as they have almost no tax time experience. Good luck this tax season.

College Application Season

noreply@blogger.com (At Ease Personal Finance) — Fri, 12 Oct 2012 16:32:00 +0000

My son who is a freshman in college shared this conversation with me the other day. He had just gone out to dinner with two friends from high school. The one friend was going to enter college in fall of 2013 and was discussing what he should major in. The other friend, a girl who is also a freshman at the same college as my son right away said something that will help you get a job/career not something like art or music as there are no jobs in these fields.

Now all three of these children were in band together in high school and the girl is in the college band and we all enjoy music and the arts but she is correct the number of jobs in music, art, art history and so on seem to be much lower that the openings in science, medical fields and computers. (The girl is a bio/pre-med major and my son is majoring in computers).

The most important part of this conversation to me was that once my son shared the story he told me that he was so happy that his friends considered what they were going to do with their education just like we had always discussed at home. Good listening son.

Stock Market Index Funds

noreply@blogger.com (At Ease Personal Finance) — Sun, 30 Sep 2012 19:38:00 +0000

The stock market has made a huge come back this past year but too many 401k, IRA and other small investors have missed the increase. Many small investors are still worried about the decreases that can happen in the stock market and have forgotten that the stock market is for the long term. Many of these small investors are putting their money into bonds and bond funds which in the long run have a much lower return on investment vs. stock market index funds. Take a look at you 401k, IRA or other retirement fund and make sure you are using stocks as part of you investment plan. Two good places to start looking are: https://www.fidelity.com/ and https://personal.vanguard.com/us/CorporatePortal. Do some research and go out and invest.

Buying a home

noreply@blogger.com (At Ease Personal Finance) — Sun, 26 Aug 2012 17:21:00 +0000

Location is one of the most important points in buying a home. In real estate they always say the 3 most important points are location, location and location. I look at these 3 points like this: 1) location for good schools, even if you never have children this is really important for re-sale, 2) location in a good area, again important for re-sale (no one really thinks they are going to sell their home when first buy it but at some point, only 4 years later for me, you will sell your first home). 3) location for jobs, shopping and other items. Many people like to buy a place way out in the country but trying to sell that place can be difficult. Sure we would all like to be in a home forever but most people do not stay in their home long enough to pay off the mortgage, I've owned 5 homes in 19 years and I've only been in this one for 5 years.

Keeping your home

noreply@blogger.com (At Ease Personal Finance) — Sun, 29 Jul 2012 23:18:00 +0000

If you are having trouble keeping up with your mortgage payments now is the time to contact your bank to catch up. The programs available from your bank can help to reduce your payments and keep your home out of foreclosure. Additionally, banks and the courts are so busy that it might be years before the foreclosure process works as it should, so you have time to catch up but do not delay. Contact your bank now and work with your bank to save your home.

Living Paycheck to Paycheck

noreply@blogger.com (At Ease Personal Finance) — Sat, 14 Jul 2012 03:10:00 +0000

If you are not living paycheck to paycheck are you rich or retired?

Best Deals in Graduate Education

noreply@blogger.com (At Ease Personal Finance) — Mon, 18 Jun 2012 23:49:00 +0000

The best graduate science education programs in the country can be obtained with little to no cost.

Some of the best Big 10, PAC 12, and other private and public colleges offer tuition waivers and nice teaching assistantships or fellowship opportunities which can cover cost of living expenses. If your son or daughter is considering a PhD and has an undergraduate degree in science they should look into these low/no cost opportunities.

Obama Not Supporting Union in Wisconsin

noreply@blogger.com (At Ease Personal Finance) — Tue, 05 Jun 2012 00:04:00 +0000

Wisconsin voters are taking note of Obama's visit to many mid-western states this weekend. The problem is still no visit by Obama to Wisconsin in support of the union.

What is good for business is good for jobs

noreply@blogger.com (At Ease Personal Finance) — Thu, 17 May 2012 23:17:00 +0000

I always wondered why with so many people out of work that the government does not get it. When the economy tanks we need to promote businesses which in turn will hire employees. We should not scare companies with more taxes, see Obamacare and taxes on the rich proposed by Obama friends of Obama. Ever wonder why business now have more cash on the books then they have in years? They are too scared to spend their money on investments like hiring employees or building more factories.

When Warren Buffett writes a check for an extra million dollars with his personal tax return or when his company stops fighting the taxes they owe I might start to listen but it seems to me Buffett's actions show he gets it even if his words do not. We also do not need to give away money to our favorite unproven "Green" cause, see solar companies when the business has no plan to make money. (Why give $500 million to a solar company with no real business plan, who is watching the store?)

Improve the economy 101:

Have you every worked for a poor person? No poor people are poor because they cannot afford to invest in their business.

Have we ever taxed our businesses to a recovery? No we need the recovery first then we tax the business, if needed, later.

1099 Employees Take Note

noreply@blogger.com (At Ease Personal Finance) — Tue, 03 Apr 2012 23:07:00 +0000

1099 employees, those that do not have taxes taken out of their checks and are considered self employed need to make sure they save enough to pay their taxes. Often this includes state, federal and self employment taxes or FICA. This total might be as high as 25% of your pay. There is good news though, as self employed tax payers theses tax payers can claim most expenses for their job as a reduction in gross pay.

Good luck as you file your taxes. Any questions?

Car Insurance

noreply@blogger.com (At Ease Personal Finance) — Fri, 02 Mar 2012 02:23:00 +0000

It is too bad that accidents happen but they do and without car insurance we have to get lucky and hope the other party is both at fault and has car insurance. When my dad was teaching me how to drive he taught me to be a defensive driver. When I was young I was not sure how to be a defensive driver but after years of experience I learned how to stay back from other cars, drive much slower and stop early. Do you have any other safety recommendations for drivers?

The Future of Real Estate Loans

noreply@blogger.com (At Ease Personal Finance) — Sun, 26 Feb 2012 03:27:00 +0000

The economy and the issues with mortgages has really made it difficult to obtain many of the real estate loans we normally used in the past few years. Going forward the types of mortgages will be limited to simple loan products with many borrowers being left out. For example, in the past no doc loans were available to anyone when they were mainly designed for high income self employed people. Now these so called "Liar loans" are almost completely unavailable even for a high income self employed with a good/great credit score.

At some time banks will have to start using other types of loan products in order to supply the mortgage market with the loans borrowers need. What types of products will be or should be developed?

Certified Financial Planner or CFP

noreply@blogger.com (At Ease Personal Finance) — Fri, 17 Feb 2012 00:57:00 +0000

Good question Certified Financial Planner or CFPs are trained in financial planning and tested to obtain certification. The can sell products and/or be a fee only planner. You may want to contact a couple of different CFPs to interview them before hiring a CFP. If I was to hire a CFP I would at least want to speak with someone that is a fee only CFP, as they would help you with a plan without trying to sell you something. They would charge a fee but you would get what you pay for in exchange for the fee.

For questions to ask when selecting a CFP see the following web site:

http://www.pueblo.gsa.gov/cic_text/money/financial-planner/10questions.html

Personal Taxes

noreply@blogger.com (At Ease Personal Finance) — Fri, 10 Feb 2012 03:27:00 +0000

I really like the ability to do my taxes on my time at home. I use the H&R Block program which is similar to Turbo Tax, both are great programs. They both have a great tax check program that runs at the end of your taxes to check for errors and both programs will supply help if your are audited by the IRS, just like a tax professional. Is there anything related to this topic you would like to explore/discuss further?

Buying A Home

noreply@blogger.com (At Ease Personal Finance) — Thu, 02 Feb 2012 03:01:00 +0000

There can be many reasons to select a home and many things you want in a home. The most important point for most home buyers is location, location for schools, location for re-sale and location for nearby activities like work and other needs. Then there is size, a fixer upper or a home that does not need anything and is move in ready. Like any other purchase it is important to first spend some time investigating what you want in a home then making a list of what is important to you and rank these items, what you cannot live without, what you can live without and what you do not want in the home.

What would be first on your list for what you cannot live without?

Enjoy your job?

noreply@blogger.com (At Ease Personal Finance) — Sat, 28 Jan 2012 02:29:00 +0000

Great question, you have to enjoy your job. You are so right, if someone does not enjoy their job, they will often look for any way to get out of that job, even if the switch means much less pay.

I've had friends that worked as prison guards, most of them loved their jobs but a few did not. Many prison guards work on a rotation to remove the prison feel, they work outside, then inside and then with the prison population. I think the different positions really help.

Almost any job can be disliked. I have a friend who was a dentist, then he got into an auto accident and could no longer perform his job. He was happy because he did not like being a dentist. While healing my friend went back to school to do another profession and now he is happy. The money or earnings from a job, do not complete the person, we have to really enjoy what we do to work in that job 10-40 years.

Good News About Truly Wealthy People

noreply@blogger.com (At Ease Personal Finance) — Mon, 23 Jan 2012 02:19:00 +0000

With all of the picking on the wealthy by the people in Washington DC it got me thinking.

I thought about all of the truly wealthy people I've known, including CEOs of two large companies, Judges, Doctors and other professions, and what they all had, at least what I have know of these folks, is a great interest in helping others. They help people do well at work, they volunteer and they help friends and family.

Then I reflected on the people that I've known that want to be wealthy, just to have the money. When I think of this second group I can only think of people that are selfish and only think of themselves. Kind of odd when you think about it the people that have it all often want to help others and the people that want it all only think of themselves.

Have you ever known someone in either of these two groups?

How do I teach my family about personal finances?

noreply@blogger.com (At Ease Personal Finance) — Sat, 14 Jan 2012 02:11:00 +0000

Great question. Some friends and family members like to push our buttons or pick on others as they do not have the same financial self control or plan. Focusing on making good educated saving and investing plans will serve you and family well in the long run. Family and friends will copy what you do to a point.

It would be great to be able to share what we have learned with friends but often this is difficult as many people are not ready to hear about things like retirement savings until it is too late. I focus on teaching my children about finances, it took a while for the two older ones to listen but now they do. My 17 yr old is really interest now that has been playing the stock game in his economic class.

How did you learn what you know about finances? It is not normally something we just pick up along the way, you need to be interested. I started reading Money when I was 12, I was a finance geek and liked it.

Poor Economy: Don't Give Up

noreply@blogger.com (At Ease Personal Finance) — Mon, 09 Jan 2012 02:04:00 +0000

Many of us have had some type of set back, it is how we come out of the experience that really matters. Some people just want what they had or more money than they had and I think you have to find a way to make yourself better because of the experience. The best plan is to never give up, if you did it before, made good money, then you can do it again. Make the best of the good and bad experiences and learn from the experience.

What did you learn from the difficult economy?

Learning to live without debt

noreply@blogger.com (At Ease Personal Finance) — Fri, 06 Jan 2012 01:09:00 +0000

Many of us in the US can learn to live with a little less. Not that having the good life is bad but if the last three years taught us anything it is that if everyone has too much debt we will run into problems. Over extended personal credit, over extended second mortgages and a general lack of control when comes to spending put us into a difficult position. As we come out of the poor economy we are all learning how important it is to use credit in moderation and maybe only when needed for things like homes, education and car loans. In 2012 cut up all of your credit cards to focus only buying what you can afford with cash, debit cards or check.

Did the poor economy change anything in your spending habits?

Zero interest credit card offers: What good is a 0% credit card?

noreply@blogger.com (At Ease Personal Finance) — Mon, 02 Jan 2012 18:32:00 +0000

Good question. A 0% credit card sounds like a really good idea but within 3-6 months the rate goes back up to 18-21% or more. Read the fine print and only take advantage of these 0% credit card offers if you can pay off the balance before the rate jumps up to the 18-21% or more range. Do not try to time the interest rate market by jumping from one low interest or no interest card to another, as at some point the offers will dry up or worse, your credit score may push you out of the low interest card game.

What You Learn In College

noreply@blogger.com (At Ease Personal Finance) — Sun, 16 Oct 2011 23:36:00 +0000

What good is a college degree if you do not have the knowledge? I have interviewed hundreds of colleges grads, right out of college for entry level positions. During the interview as part of the questions you normally figure out who was listening/learning in their classes.

I always like to say you learn two important things in college; 1) learn about the topics in your major area of study and 2) learn how to learn, this includes all the research, papers, assignments and the general education type classes.

Once you have a year or two of experience after college you learn so much more about your major area of study or it is highly possible you will not even work in your area of study at all. The part of your college education that you will use forever is the learn how to learn part. The research, papers and assignments help you with this as life changes and you learn new things, the rest of your life.

Job question about credit check and background check

noreply@blogger.com (At Ease Personal Finance) — Tue, 12 Jul 2011 23:40:00 +0000

Great question, part of the reason that employers check credit is that good credit shows responsibility. The biggest reason employers check credit is if the employee will have access to or control money in any way. A good way to find out if a potential employee will take money from the employer is to do a criminal background check and a credit check. The credit check may not be needed if there is no money involved. Some employers will ask questions about a negative credit check and still hire honest people that have bad credit due to loss of job or illness.

Can you think of a reason in addition to theft that an employer would request a criminal background check?