Valerie Peck |
Introduced in 1989, reverse mortgages were designed for homeowners nearing retirement age. The premise behind a reverse mortgage is to allow those aged 62 or older, with at least 50% equity in their home, to tap that equity in the form of a payment that will be made to them monthly. The complete opposite of a standard mortgage, reverse mortgages use the home’s equity to pay borrowers a set amount each month, with owners no...
Valerie Peck |
Of all the things you’ll purchase in your lifetime, it’s likely that your home will be the largest, most expensive purchase you will ever make. While homes vary widely in price throughout the U.S., the median price of a home today is close to $300,000. While there are a lot of things that you can do prior to purchasing a home, such as getting your credit in order, and saving for the down payment, the...
Valerie Peck |
Of all the things you’ll purchase in your lifetime, it’s likely that your home will be the largest, most expensive purchase you will ever make. While homes vary widely in price throughout the U.S., the median price of a home today is close to $300,000. While there are a lot of things that you can do prior to purchasing a home, such as getting your credit in order, and saving for the down payment, the...
Valerie Peck |
If you’ve always dreamed of living abroad, now may be the best time. Today, there are around 400,000 American retirees residing outside the United States, with that number expected to grow over the next few years. Cost of living is often cited as one of the main reasons for the move. For example, in places like Mexico and Costa Rica, it’s possible to live off of a Social Security check, while enjoying a relaxing lifestyle...
Valerie Peck |
Tax Changes Around the Home How the Tax Cuts & Jobs Act impacted three popular deductions. Provided by Peck Financial Advisors Three recent tax law changes impact homeowners and home-based businesses. They may affect your federal income taxes this year. The SALT deduction now has a $10,000 yearly limit. You can now only deduct up to $10,000 of some combination of (a) state and local property taxes or (b) state and local income taxes or...
In this month’s recap: earnings and fundamentals encourage Wall Street, while tariff talk continues, inflation pressure mounts, and home sales decline. Monthly Economic Update Presented by Peck Financial Advisors, August 2018 THE MONTH IN BRIEF While investors kept tariffs and trade disputes in mind in August, a new earnings season provided Wall Street with a lift. Blue chips especially benefited: the Dow Jones Industrial Average rose 4.71% for the month. Broadly speaking, strong corporate profits...
The Details More People Should Know About Medicare Before you enroll, take note of what the insurance does not cover and the changes ahead. Provided by Peck Financial Advisors Misconceptions about Medicare coverage abound. Our national health insurance program provides seniors with some great benefits. Even so, traditional Medicare does not pay for dental care, vision care, or any real degree of long-term care. How about medicines? Again, it falls short.1 Original Medicare (Parts A...
How Your Credit May Affect Your Life Insurance Premiums You may be surprised to learn about the potential relationship. Provided by Peck Financial Advisors Does your credit history partly determine the cost of your life insurance? It may. The potential for such a relationship may surprise you – and the relationship is not without controversy. Insurers think a good credit history implies several things. It signals a consumer who routinely lives up to financial responsibilities...
In this month’s recap: tariff talk weighs on equities worldwide, oil prices jump 10%, and the Fed raises rates once more. Monthly Economic Update Presented by Peck Financial Advisors, July 2018 THE MONTH IN BRIEF While segments of the stock market rallied in June, assumptions that a global trade war was starting hurt the blue chips – the Dow Jones Industrial Average lost 0.59% last month. As the U.S., European Union, and China exchanged tariff...
Peck Financial Advisors Presents: MONTHLY ECONOMIC UPDATE June 2018 In May, investors were left to interpret mixed geopolitical and financial signals. The historic U.S.-North Korea summit was on, then off, then possibly on again. An apparent truce emerged in the U.S.-China tariffs battle, but it did not last. Oil rallied, but then prices fell. Federal Reserve policy meeting minutes indicated central bank officials would accept above-target inflation for a while. Other economic signals were clear...
Valerie Peck |
The Medical Expense Deduction in 2018 Tax reform has lowered the threshold. Provided by Peck Financial Advisors If you itemize, you should note the reduced medical deduction threshold for 2018. This year, you can deduct qualified medical expenses exceeding 7.5% of your adjusted gross income. Next year, the threshold for the medical expense deduction returns to 10% of AGI. (The Tax Cuts & Jobs Act of 2018 also allowed the 7.5% threshold to apply retroactively...
Valerie Peck |
Could a Trade War Soon Start? The U.S. might soon impose tariffs on certain imports. Provided by Peck Financial Advisors What if America taxes imported aluminum and steel? If it does, will other countries impose taxes in response, and what might that mean for the U.S. economy? Conversations about tariffs and trade wars have been prevalent in the news stream lately. If a trade war does begin in 2018, it is worth considering the potential...