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Tag: financial advisor

Financial Planning during COVID

Financial Planning During the COVID-19 Pandemic

The COVID-19 pandemic has affected nearly every aspect of our lives. And with so many people laid off or working reduced hours, many people’s personal finances have been thrown into complete disarray. In other words, the pandemic is changing the way people deal with money. While there is still a great deal of uncertainty ahead of us, financial planning should not take a backseat just because it’s become more difficult to forecast for the long-term. Regardless of your current financial situation, there are steps you can take to lessen the financial hardship of the Covid-19 pandemic and prepare for the future.

insurance and finance

How to Lower Investment Fees

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.

healthy living for seniors

When Can I Retire?

Financial planning for retirement can be an intimidating task. Retirees will see a number, and might feel as if it is all the money they have left, for the rest of their life. But it’s not. This dramatic-seeming situation can easily be alleviated with the proper retirement planning and education. Financial advisors will guide a retiree through every step of the retirement plan, and answer any retirement questions along the way. Some frequently asked questions about retirement, and their answers, including:

commercial and residential mortgage

What is the Difference Between a Commercial and Residential Mortgage?

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?