Monday , 16 May 2022

Personal Finance

Balloon Mortgages Have Some Tempting Qualities But Are They Really For You?

Balloon mortgages have some tempting qualities. They come with lower interest rates and, because of this, smaller monthly payments. This can help borrowers get into a pricier home that they might not have been able to afford otherwise but balloon mortgages come with one huge risk: At the end of a set period, borrowers must pay off the remaining balance on these loans in full (the "balloon") and these balances can be quite large. So, how exactly do these mortgages work, and who do they work best for? Let's break it down.

Read More »

Are You Better At Investing Than the Average Investor?

All investors think they are better in their investing than the average investor and such overconfidence can get you into trouble with your finances. It can cause you to take risks you shouldn't, and to ignore information that disagrees with pre-existing biases. It's tough to combat, because most overconfident people are also convinced they are not overconfident!

Read More »

How Much Money Do You Need to Retire?

Retirement planning is a process and not an event. You don’t simply set a course of action and follow that exact plan for your remaining days. Financial plans should be open-ended because there will always be corrective actions, updates, changes in strategy, or difficult decisions that have to be made. It’s like the old saying, “Plans are useless but planning is indispensable.”

Read More »