Nearly 60% of bills that are in collection and show up on credit reports are medical-related. As of July 1, the three major credit bureaus made changes in their reporting system that could potentially boost your credit score. Experian, Equifax, and TransUnion stopped reporting medical debt that went to collections and was ultimately paid off. […]
Each year, millions of Americans retire or change jobs. In fact, due to the tight labor market in 2022, Americans have more leverage than in the past with approximately 65% of workers currently looking for alternative opportunities. Regardless of the reason for your employment transition, do not forget about your old employer-sponsored 401(k)’s. According to […]
So far this year, the Federal Reserve has raised interest rates three times for a total of 1.75%. The Fed is widely expected to raise rates as much as 0.75% in their July meeting plus more rate hikes are likely throughout the year. Why? They are trying to avoid runaway inflation by tamping down the […]
Whether you’re the parent of a high-school student who is beginning their college application process or considering going back to school as an adult, the Federal Application for Student Aid (FAFSA) is the first, and one of the most important steps in the process of continuing your education. With the FAFSA deadline for the 2021-2022 […]
As Mayor for the City of Mountain Brook, I get calls and notices when we have the occasional home burglary. And as an owner of a financial advisory company, I see the monetary and emotional toll a home burglary has on the victim. As summer rolls in and we head into the vacation season, here […]
A recession is defined as a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters. Well, we just had our first negative GDP quarter, and there is much speculation that our next quarter will also be negative…a recession. The stock market has […]
In recent weeks, we have covered topics including Financial Survivorship Basics for Couples and Financial Planning When You Find Love, Again. Today, we will discuss why it is important to consider a premarital agreement. If you are planning to get married, you need to consider the advisability of a premarital (prenup) agreement. This is true […]
In the late Fall of 2021, the 30-year fixed-rate mortgage at below 3% offered cheap financing for borrowers looking to purchase, or refinance, a home. However, while the cheap financing seemed like a blessing, the acceleration in home prices was the devil in disguise. Fast forward just a few months, and we see 30-year fixed-rate […]
A few weeks ago, we discussed conversations you should have with your spouse when you ‘marry again‘, particularly after age fifty. It included discussions about who should pay what expenses and particularly decisions about who would provide and pay for long-term care. In addition to these conversations, here is a checklist for couples entering into […]
Over the past several weeks, we have seen financial media flood televisions and the internet with ways people can save/limit consumption to combat the adverse effects of inflation. While this is certainly a worthwhile exercise to make an immediate impact, I want to offer longer-term advice to help people maintain their quality of life and […]