Last week in the Gen Y Planning blog, I discussed what you should consider if you’re thinking of refinancing your mortgage. This week, let’s look at another form of debt keeping millennials up at night: student loans. When you refinance your student loans, you trade your federal or private loans for a private loan with different terms. The potential switch from a federal to a private loan means … [Read more...] about Should I Refinance My Student Loans?
Life and Money
Mortgage rates dropped below 4% within the last few months. Does that mean it’s time for you to refinance and lock in a lower rate? Homeowners refinance for all sorts of reasons: to lower their monthly payments, to change the amount of time they have to repay their loan, to get some of their equity back in the form of cash to apply toward other financial needs, and, yes, to lower their … [Read more...] about Should I Refinance My Mortgage?
Whether you’re the recipient of a trust fund or you’re setting one up for the benefit of someone else, it’s important to understand the basics of how trusts work. Trusts can be complicated, but they’re also helpful estate planning tools that allow people to pass their wealth down, while in many cases bypassing the expensive and time-consuming probate process. Keep in mind that I am not a lawyer … [Read more...] about How Do Trust Funds Pay Out?
Nothing inspires my writing more than what my clients and readers (like you!) ask me about. Since I started my blog, your questions, like your lives, have become more complicated. I want to highlight the most popular blog posts of the past year, because they cover some meaty topics that I know many of you are wondering about right now. Just in case you missed them the first time, here they are … [Read more...] about The Top 5 Gen Y Planning Blog Posts of the Year
This question was submitted by a reader! Do you have a money question you’d like Gen Y Planning to answer in a future blog post? Submit it to genyplanning.com/askgyp. What should the financial planning look like when you have a parent who has no retirement saved up and won’t be working much longer due to health issues? My mother-in-law rents in a bad part of town, works at temp jobs, is turning … [Read more...] about Ask Gen Y Planning: How to Financially Support Family?
This question was submitted by a reader! Do you have a money question you’d like Gen Y Planning to answer in a future blog post? Submit it to genyplanning.com/askgyp. I’m starting a business in 2018 and one of the major things I need to learn about as an entrepreneur is managing my business’ finances and understanding tax requirements for small businesses. Is this something you could talk … [Read more...] about Ask Gen Y Planning: How to Manage Small Business Finances?