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Are you familiar with #appraisals? An appraisal is

Are you familiar with #appraisals? An appraisal is an estimate of how much something is worth.

People may get appraisals for real estate, jewelry, paintings, antiques, or other collectibles. Normally, if you need to know the value of something, you can form an estimate by looking at recent sales of similar items.

For example, if you want to know the value of stock you own, you can look at its recent share price. Or if you want to know the value of your car, you can look online for recent value estimates for the same model from the same year.

But if you need to know the value of something that’s unique or that isn’t bought or sold frequently, you may need to obtain an appraisal from an expert.

Appraisals may be necessary for:

➡️ Obtaining a mortgage or home equity loan
➡️ Tax purposes, like if you need to report the value of a gift to the IRS
➡️ Divorce proceedings to make sure both spouses receive a fair share of assets
➡️ Insurance, like if you’re buying a policy to protect an expensive piece of jewelry

Home appraisals are, by far, the most common kind. They’re typically necessary if you ever need to:

✅ Obtain or refinance a mortgage or home equity line of credit
✅ Appeal your property taxes
✅ Evaluate the benefit of a remodel or renovation
✅ Split assets during a divorce

Appraisals typically cost a few hundred dollars for a single-family home. The cost varies based on property type, location, and square footage (appraisals for apartment buildings or for properties located in remote areas can cost more).

Have you received an appraisal before? What was your experience like? Check out today's stories or the link in our bio to learn more about this process, including who's typically involved, steps of the home appraisal process, and more!

FUN FACT: Did you know that the highest appraisal ever given on Antiques Roadshow (a familiar appraisal TV show) was for a 1914 Patek Philippe pocket watch, which was valued at $2 million to $3 million (to the surprise of its owner, who’d been told in a previous appraisal it was worth only $6,000). 🤯🤑

Just try to stay out of that Notorious D.E.B.T. 💰

Long-term care insurance is a policy that helps co

Long-term care insurance is a policy that helps cover the cost of assistance with daily activities if you’re unable to care for yourself.

The insurance typically assists those aged 65 and older or who have chronic illnesses or disabilities. Long-term care can be incredibly expensive, often costing hundreds of dollars per day. Long-term care insurance policies can give you peace of mind that if you ever need that kind of care you’ll be able to afford it.

Depending on the policy, you might be able to use your coverage for:

✅ Nursing home care: typically a 24-hour live-in facility with full-service care
✅ Assisted living: a 24-hour live-in facility for those who need some assistance but not full nursing care
✅ Adult day care: Daily program outside the home
✅ In-home care: Nurses or other care providers come to your home to help with daily tasks
✅ Home modifications: Adding a ramp to stairs or grab bar to your shower to make your home more accessible and safe
✅ Hospice or palliative care: Care for end-of-life needs

Long-term care insurance policies aren’t cheap, but neither is long-term care. Here are some things you might want to know if you’re considering a policy:

➡️ You’ll usually get lower premiums if you buy a policy in your 40s or 50s. The trade-off is you’ll probably be paying premiums for a longer period of time.
➡️ You may not qualify for the insurance if you have a preexisting condition.
➡️ There’s often a daily or lifetime limit on how much your policy will cover.
➡️ If you stop paying your premiums, the insurance company can cancel your coverage, and you might lose anything you’ve paid up to that point.
➡️ Some companies offer shared coverage to couples, who can then split the benefits.

Did you know that around 25% of the population will spend $50,000 or more out of pocket on long-term care expenses in their lifetime? Click the link in our bio or check out today's stories to learn more.

We’re thrilled to see the Napkin Finance book tr

We’re thrilled to see the Napkin Finance book translated into Japanese! 🇯🇵

The title is “Illustrated Finance: Money Knowledge to Help You Make the Right Choices in Life”. The original name doesn't translate in Japanese, as it isn't customary to use paper napkins in Japan!

Honored that our book has engaged readers around the globe! 🙏@tinajhay
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#financebooks #financegoals #financialindependence #financialeducation #napkinfinance #japanesetranslation

A municipal bond, or muni bond, is a type of bond

A municipal bond, or muni bond, is a type of bond issued by a state or local government to raise money for public projects. Think of it as essentially a loan from an investor to the government.

When a government entity needs to raise money to pay for a big project, it sells bonds to interested investors. Here’s an example of how it can work:

The state decides to issue muni bonds
to pay for a new highway.
↓
Investors buy the muni bonds,
which provides the government the money it needs.
↓
The government may use funds from the highway (like tolls)
or from other sources to repay investors.
↓
Investors receive interest (usually semiannually)
plus the original investment when the bond matures.

Muni bonds can be issued by states, cities, counties, or other municipal entities, like a water district.

Governments use muni bonds to raise funds for projects that will benefit the public. Common examples include:

➡️ Roads, highways, bridges, and other infrastructure
➡️ Hospitals
➡️ Schools and libraries
➡️ Government buildings
➡️ Power plants
➡️ Sewer systems

Other bonds may be issued to fund an entity’s day-to-day operations. Muni bonds can be a popular investment option because they offer:

✅ Low risk—Because they’re backed by government entities, muni bonds generally come with low risk of default. (Bonds are usually issued with credit ratings, which rate how likely the borrower is to make on-time payments—like a credit score.)
✅ Tax advantages—The interest you earn is usually exempt from federal income taxes. If you buy bonds from an entity in your home state, there’s a good chance you can also skip state income taxes.
✅ Steady income—Muni bonds are often popular with retiree investors as a way of earning a steady paycheck from their portfolio.

Because tax advantages are a main draw, muni bonds typically make more sense to hold in a taxable account (like an ordinary brokerage account instead of an IRA or 401(k)). Those tax benefits become more valuable for investors who are in higher tax brackets—so the bonds also tend to be popular with wealthy investors.

Check out today's stories or click the link in our bio to learn different types of muni bonds and more!

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