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Our latest insights.

July 27, 2018

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If stock indexes rise by too much, too fast, they If stock indexes rise by too much, too fast, they may be due for a correction. That’s when the stock market falls (i.e., prices “correct” to more appropriate levels), by about 10% or more. If the stock market falls by more than 20%, however, then it’s said to have entered a “bear market” and is no longer considered to be a correction.
If you're thinking about buying a home this year, If you're thinking about buying a home this year, there are a few things to keep in mind. Before you contact lenders or look at houses, it's important to organize your finances and determine how much you can afford. The true cost of a home includes several ongoing factors, all of which you want to account for when figuring out how much home you can afford. -- Down payment: The more money you put down, the smaller your mortgage and the less you’ll pay in interest. Putting down at least 20% will help you avoid private mortgage insurance (PMI), which lenders often require for smaller down payments. If your down payment is low, you’ll need to factor PMI premiums into your monthly loan amount. -- Property taxes: It’s a good idea to find out the property tax rate in the local area and look into local real estate trends. If you’re moving into an up-and-coming neighborhood, your taxes may go up as property values increase. -- Maintenance: Upkeep adds up quickly, especially for older or larger homes. Think about how much it will cost to maintain a yard or replace old pipes and fixtures so that you can build a buffer into your budget. If you want to learn more about this topic - including tips on finding the right house, making an offer, and other costs to be aware of, swipe up in today's stories or click the link in our bio. Are you a homeowner or curious about taking the next step? Share your process below!
Where’s the lie? 🤔🤣 Where’s the lie? 🤔🤣
Estimated taxes are payments to the government tha Estimated taxes are payments to the government that some people have to make four times a year. They mostly apply to freelancers and people with nonemployment income. Self-employed people and corporations typically owe estimated taxes, but you can owe for other reasons too. Here’s who is likely to be on the hook: - Contractors (aka freelancers or gig workers) - Sole proprietors - Partners in a business - Employees who also have side gig income - Anyone with significant income from asset sales or investments—whether traditional stocks and bonds, real estate rental income, or something else - Corporations Abgood rule of thumb is that you want to make sure you’ve paid at least 90% of your total tax for the year (whether through withholding or estimated payments) before you submit your annual tax return. If your nonemployment income puts you at risk of falling below that 90% mark, then you probably need to file estimated taxes. Otherwise, you could face penalties. Swipe up in today's stories to learn more about how to best calculate how much you'll owe, and when, as well as other fast Finance Tips!
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