If you're thinking of investing in real estate in Des Moines, Iowa, owning a rental property can be a great option to generate passive income. However, it's not as simple as just buying a property and renting it out. To be a successful landlord in Des Moines, you need to be well-informed about the local real estate market, organized, and prepared to handle various challenges that may arise. In this guide, we'll share valuable advice to help you make your rental property business a success.
Setting financial goals is an essential step toward achieving financial stability and security. Creating achievable financial goals requires deliberate planning, discipline, and a clear understanding of your financial situation. This article provides tips on how to set financial goals that are realistic, achievable, and sustainable.
If you have a dependent who is planning to use financial aid for college, you might want to consider meeting with a financial advisor to create a plan for your assets ahead of time. Financial aid is mostly awarded based on need, so your assets could hinder your dependent’s ability to need-based financial aid.
Medicare is a federal health insurance program for individuals 65 and older, or younger individuals with certain health disabilities. Medicare is made up of 4 individual parts covering different aspects of a person’s medical coverage that come with varying costs. The individual parts can be combined to meet your healthcare needs. Most doctors take Medicare, but it is not a guarantee, so if you want to stay with your doctor and you’re nearing 65 it is a good idea to check with your doctor.
A 401(k) plan is a retirement plan offered by employers to provide retirement benefits for their employees. Employees have the option to defer receipt of some of their wages until retirement. The contributions are pre-tax and made by the employees, with taxes paid when they are withdrawn in retirement. Most employers that offer 401(k) plans will also match your contributions. If your employer does match 401(k) contributions, you should contribute even if you are only able to set aside a small percentage of your salary. Not taking part in a 401(k)-match program is essentially giving away “free” money.
It’s fall, and that means open enrollment time for workplace benefits as well as Affordable Care Act (ACA) coverage. When you’re reviewing your health plan options, don’t overlook the benefits of a high deductible health plan (HDHP).
The COVID-19 pandemic has created financial stress for millions of Americans. In April 2020, a Harris Poll survey on behalf of Nationwide asked more than 2,000 adults in the U.S. about their COVID-related concerns. Overall, respondents’ top worries were being unable to pay their bills (45%), losing their life savings (33%), and losing employment (30%). Even those who enjoy more financial security are facing uncertainty. Among respondents with investable assets of more than $100,000, the top concerns were losing their life savings (41%) and inability to pay the bills (34%), afford healthcare (28%), or retire as planned (28%).
The COVID-19 pandemic has upended a lot of people’s financial plans. Losses in business revenue, stock value, and employment create a variety of bumps in the road to retirement. The steps you should take to protect your future depend on the assets you have available, how close you are to your target retirement age, and the current condition of your investment portfolio. Take a look at these seven ways you can take action to stay on track with your retirement plan.
When the stock market becomes turbulent, investors want to do something to protect themselves. The impulse to react is a natural human response when you perceive a threat, whether that threat is a charging grizzly bear or a crashing bear market. The key is to keep a cool head and make rational decisions about how to respond. In either situation, running in panic can increase your danger.
When you invest, it’s important to have a vision of your long-term goals, develop a strategy to meet those goals and stick to it. For many of us, that becomes especially challenging during times of economic downturn. It can be gut-wrenching to watch the value of your holdings take a dive, but panicking and selling could leave you in a much worse position than riding out the storm.