123rf Managing family finances can feel like juggling with one hand tied behind your back. Between household bills, groceries, and extracurricular activities, it’s easy to feel overwhelmed. But with a few clever tricks, you can take control of your money and find room to breathe. These family finance hacks are here to help parents make the most of their hard-earned cash and keep stress levels low. Automate Your Savings Setting up automatic transfers to your […]

Three Accounts and the 3-Fund Portfolio   Simplicity is a 3-fund portfolio. US and International equity funds and a bond fund are baked together in a set asset allocation. There is much more to consider when you have different account […]

A reader wishes to retire with an ongoing home loan EMI and asked us how to plan for this using the freefincal robo advisor tool — a discussion. First, some general considerations. Retiring in the middle of a home loan service may seem odd to many readers. However, it is quite common. For example, SBI… The post Planning Retirement with an Ongoing Home Loan EMI appeared first on freefincal.

A secondary credit card holder’s responsibility for credit card debt depends entirely on how the card was set up and the specific terms of the credit card agreement. While some supplementary cardholders may not be liable for any charges, others could be fully responsible for all debt on the account. Understanding these differences is crucial before accepting or adding someone as a secondary cardholder. Primary vs Supplementary Cardholders Credit card accounts have distinct roles, and […]

State debt across the U.S. has surged to new highs, posing serious challenges for residents. When states carry debt that outpaces revenue, it often creates financial strain, leading to budget cuts and the possibility of tax increases. This burdens consumers with rising living costs and skewed debt-to-income ratios. To shed light on this fiscal challenge, World Population Review delves into the national debt landscape, analyzing government debt levels across different states. Read the rest

The Big Picture On Rent To Retirement: Investing in rental properties can provide a stable income for retirement, with options like steady monthly rent, lump-sum cash from sales, and equity loans. This makes it a sustainable alternative to traditional retirement funds. Rental income can enhance retirement stability, allowing for regular cash flow even after the property mortgage is paid off. Additionally, selling the property or borrowing against equity can provide financial flexibility when needed. While real estate investment offers significant retirement advantages, consider factors like property management, tax implications, and long-term planning for sustainable benefits. Disclaimer The information provided on this website is for general informational purposes only and should not be construed as legal, financial, or investment advice.  Always consult a licensed real estate consultant and/or financial advisor about your investment decisions.  Real estate investing involves risks; past performance does not indicate future results. We make no representations or warranties about the accuracy or reliability of the information provided.  Our articles may have affiliate links. If you click on an affiliate link, the affiliate may compensate our website at no cost to you. You can view our Privacy Policy here for more information.    (Guest article by Michelle Cornish, CPA) Most North Americans aren’t on track for retirement, according to a recent survey conducted by Bankrate. I spent sixteen years working in public accounting, where I helped people with their taxes and retirement planning. Over and over, I found that people fear they haven’t saved enough for retirement. Nearly everyone wonders, “Do I have enough?” “How do I know my 401k won’t run out?” and “What happens if the stock market crashes right after I retire?” The good news is that there is more than one way to retire comfortably. One way is to start investing in rental properties before retirement. Consider three of the ways rental properties can ensure a comfortable retirement: Steady monthly income, Lump sum cash payout, and Equity loans. Stocks typically must be sold to supplement retirement income, and bonds eventually finish paying out. In other words, traditional nest eggs risk running empty at a certain point, but rental properties keep paying indefinitely.   Why Rental Properties Make Smart Retirement Assets Let’s dive in and take a closer look at these advantages of rentals for retirement, shall we?   Steady Monthly Income Rental income is a great supplement to other income you may have in retirement. It can even provide the bulk of your retirement income! Ideally, you’ve owned the property long enough that the mortgage is paid in full. This increases your monthly cash flow because you don’t have to worry about paying the mortgage out of the rental income you receive. If the property has been well maintained over the years, then your only major repair bills should be CapEx (capital expenditure)-related. You can also increase the rent to raise yourself.

The Big Picture On Blanket Mortgages: A blanket mortgage consolidates loans across multiple properties, helping real estate investors simplify their portfolio management, reduce closing costs, and potentially negotiate better loan terms. By using equity from existing properties as collateral, investors can expand their portfolios without large down payments. This makes blanket mortgages especially useful for buy-and-hold investors, house flippers, developers, and business owners. Although blanket mortgages offer benefits like simpler management and reduced costs, they come with pooled risk and shorter loan terms. A default affects all covered properties, and fewer lenders offer them. Disclaimer The information provided on this website is for general informational purposes only and should not be construed as legal, financial, or investment advice.  Always consult a licensed real estate consultant and/or financial advisor about your investment decisions.  Real estate investing involves risks; past performance does not indicate future results. We make no representations or warranties about the accuracy or reliability of the information provided.  Our articles may have affiliate links. If you click on an affiliate link, the affiliate may compensate our website at no cost to you. You can view our Privacy Policy here for more information.    Who says you need a separate loan for every single property? As you scale your real estate portfolio, it can get tricky to borrow and manage individual loans for every residential property. It also limits your financing options and your ability to pull equity out of existing properties. Enter: blanket mortgages.   What Is a Blanket Mortgage? A blanket mortgage is a single loan attached to multiple properties. As terms in real estate investing go, the blanket mortgage definition is pretty simple. For instance, say you come across a seller looking to sell her entire portfolio of eight properties. You could try to arrange eight separate landlord mortgages — or you could negotiate one single mortgage that covers all eight properties. Note that the lender attaches a lien against each property. If you default on your mortgage payment, they file for foreclosure on all secured real estate properties. Lenders usually include a partial release clause with blanket loans to cover the event of the borrower selling one property. Unlike traditional mortgages, you don’t have to repay the entire loan when you sell a property. Typically, the seller repays a proportionate percentage of the loan balance or allows the borrower to put the sale proceeds toward buying a replacement property (which the lender places a new lien against). Think of it like a 1031 exchange for your blanket loan. Some investors refer to blanket mortgages as portfolio loans, but portfolio loans have another definition: loans held privately on a lender’s portfolio. That’s opposed to being sold off to huge financial institutions like traditional mortgage loans are. However, as simple as the blanket mortgage definition, its uses and applications get more nuanced. What Else to

If you’re going to find a bank for your kids, you should also find a smart banking solution for your whole family. After all, no one wants to juggle sending money back and forth or remembering millions of passwords. Then, check out our best banks for families.  This list of banks offers products to help kids build their financial literacy. Additionally, they also offer services that will address your banking needs. Think of the best […]