The Welch Group

Paying Off Your Home Mortgage

New Rule: Pay Off Your Home Mortgage!

For as long as I can remember, having a home mortgage was considered ‘good’ debt.  The reason was that you were borrowing money to buy something that’s expected to increase in value…AND you received a tax deduction for your interest payments! What’s changed?  In 2017, 32 million taxpayers were eligible for the mortgage interest deduction.  […]

Simple Money Management System

Top 5 Priorities for Young Couples

Setting Priorities as a Young Couple

For young couples, it is often hard for them to make sense of the various financial challenges they face and to set priorities.  While each person is different, below are my Top 5 Priorities for Young Couples! Improve Emergency Cash Situation A typical rule of thumb is to take your monthly income and multiply that […]

Money

Need a Simple Money Management System? Consider the 50-30-20 Strategy

For most of us, money management was not taught in school…or at home.  In fact, for most of us we learn about managing money through the school of hard knocks…trial and error.  And boy, those errors can be difficult to overcome. There are many different money management strategies to choose from, some of which can […]

Why I Prepaid My Funeral Expenses

Most people don’t think about their own funeral expenses…ever!  It’s only after they die that another family member steps up and handles the details, often under emotional duress. Personally, I’ve had two experiences that shaped my decision to prepay my funeral expenses: Story #1 Years ago the wife of a friend of mine, who is […]

Retirement Healthcare Concerns

Retirement Healthcare Expenses: Are You Ready?

Insurance Companies Exiting the LTC business Genworth, a major writer of long-term care insurance (LTC), recently announced they’d no longer offer LTC insurance through brokers and, instead, would only offer coverage ‘direct-to-consumer’.  This is an effort to cut the enormous expenses of commissions paid to brokers and reflects declining demand for LTC products.  Demand has […]

Getting a Summer Job