In December of 2020, Fannie Mae and Freddie Mac, the two largest government-controlled mortgage companies, which purchase half of all mortgages in the US, applied an additional 0.5% fee to all of their conventional loan purchases. The fee, intended to reduce Covid-19 and the housing market risks, added approximately $1,400 in costs to an average […]
Wells Fargo recently announced it would no longer offer personal lines of credit. Instead, customers with account balances will be required to begin a payoff schedule. The typical open line-of-credit might be for as little as $3,000 or as much as $100,000. These accounts were used for such things as home improvements or loan consolidations. […]
Our last SquareOne blog covered retirement savings for individuals with defined contribution retirement plans through their employer – the 401(k) with the Employer Match. However, suppose you are one of the 36% of private industry workers whose employer does not offer a defined contribution plan. In that case, you may be looking for options on […]
Could delaying Social Security be the key to winning the retirement game? For many couples, the answer is a definite “Yes.” For most pre-retirees, the full SS retirement age is sixty-six (and a few months). That is the age when you can receive your full benefits based on your work history. However, you can begin […]
Last week’s article, Wealth Creation Made Easy, discussed a few time-tested rules to help you achieve significant wealth. The article highlighted three areas – that should you have consistent success in achieving, will provide you with a framework in creating wealth. Let’s take a deeper dive and discuss a few additional thoughts to make following […]
What does it mean to be wealthy? While there is no right or wrong answer, a recent 2021 survey conducted by Charles Schwab suggests Americans believe $1.9 million in net worth qualifies as wealthy. While most consider accumulating this kind of wealth a herculean task, only reserved for a select few, the truth is anyone […]