Planning for retirement does not have to be a difficult or stressful process. However, waiting until the last minute to do so can make the transition less than smooth. It is never too late to start preparing for retirement, but starting now will be more mentally, and financially, rewarding than starting in a few years. When deciding on consulting with a financial advisor in New Jersey, they will ask a few basic questions to get started. Once those questions have been answered, the retiree will be on their way to creating a customized investment plan to financially prepare for retirement. But first, there are a few steps to take to ensure the first visit with a financial advisor in New Jersey is tailored to the needs of the retiree. Before that first meeting, prepare by doing the following:
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When creating a savings plan, many people factor in an amount that they would like to invest. However, few people know how to factor in an investment fee. That’s right. It costs money to invest money.
Transaction fees versus ongoing fees
For those with an investment account, take a look at the annual report that is sent. Some firms will send a quarterly report as well. If this is the case, evaluate all documents together and identify any fees that appear on the statement. Specifically, there are two types of fees to look out for. Transaction fees will be those that occur when stock is bought or sold. At many investment firms, these fees may be waived for the first 25 transactions or so, but then cost a certain dollar amount or percentage of the sale, whichever is higher. Don’t be surprised if an affordable investment account suddenly becomes less once the trial period of 25 trades is over.
Other fees are less surprising.
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Now that you’re settled into your new abode and are feeling pretty pleased with yourself, next on your list of priorities is to fulfill your lifelong dream of being your own boss. If that dream job cannot take place using your house as home base, i.e. you must take the business out of the home, and into a building, or, if you are simply purchasing land upon which you will erect a particular building, the process for securing a loan for a business venture is way different than the one you endured for the purchase of your new home.
The procurement process is similar enough since commercial, as well as residential mortgages, essentially are loans procured through a bank or lending institution. Another factor which may be similar is whether or not you still carry student debt, as sometimes it can delay implementing the loan process. Don’t let the commercial loan procurement process thwart your attempt to fulfill a dream of owning your own business. The cumbersome details may be hard to grasp, so why not consider consulting with an expert, a commercial real estate lender who will help smooth out the loan process for you? Continue reading “What is the Difference Between a Commercial and Residential Mortgage?”
Hospitals today are not the same as you may remember from back in your youth. Hospitals, for the most part, are all about making a profit these days, and, since the Affordable Care Act (“ACA”) became a reality, more and more people find themselves with elective surgeries are on the rise. The ACA has also increased the need for more hospitals, as well as doctors and related hospital staff. Truly the ACA has been a win-win situation in the medical field, especially when you discover that as recently as 2014, hospital’s uncompensated care costs were estimated to be a whopping $7.4 billion, or 21% lower in 2014 than they would have been in prior years due to the absence of coverage expansions. One of the ACA’s chief aims was to incentivize hospitals to promote high-quality care and avoid unnecessary re-admissions, and slowly and surely this is coming to fruition.
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Let’s be honest for a minute. When your head is bent over the pile of monthly bills, with your calculator nearby at your elbow, the realty hits you… unless you ask for, and receive, a raise, one or more of those obligations must get pushed to the side.
When it comes to those “obligations” for which you must dole out your hard-earned pay, never scrimp on, eliminate or fall behind in any insurance premium!
You’ve read or heard the advice before, most likely from financial advisors, to always adequately insure your home or vehicle, and that advice goes for your healthcare as well.
When it comes to protecting yourself, and your loved ones, you need to plan ahead. Plan for a future that may not be as rosy as you’d like it to be, or, at the very least, know that the years ahead may become tarnished, not golden, due to illness or other such circumstances beyond your control.
The time to put insurance policies for disability, long-term care and life insurance benefits into place is when you are younger, not when you are older or thinking of retirement. By then it might be too late.
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Most people are familiar with the process used to gain a residential mortgage for the purposes of purchasing a home, which seemingly never-ending monetary obligation the homeowner must make until that loan is paid in full. Perhaps you remember your parents, or a relative, celebrating the payment in full of that loan by having a “mortgage burning celebration”.
Procuring a loan for the purpose of purchasing a building, maybe to be used as a family business, or a retail store, can be a rather arduous process. You must have all your finances and paperwork in order before you even attempt to begin that venture. Is this a daunting task? Well, you could make it easier on yourself if you secure the help of an expert who specializes in loans for retail construction. Such an expert would be instrumental in paving the way for a potential future business owner to achieve a commercial loan with minimal obstacles to that ultimate goal. Continue reading “What is a Commercial Mortgage?”