Home » Build Assets » Page 18
March 27, 2023
By
The Admiral Staff
The article advises investors not to panic during stock market downturns, drawing a parallel to “The Tortoise and the Hare.” It explains that retirement accounts like 401(k)s and IRAs are designed for long-term growth, with a shift towards less risky investments as retirement nears. Instead of selling during a slump, the article recommends continuing regular contributions, utilizing dollar-cost averaging, and checking in on your portfolio quarterly rather than daily. Consulting a financial planner and maintaining a long
February 25, 2023
By
The Admiral Staff
Three stepsons are seeking legal advice after their father died without a will, leaving over $1 million in assets. The stepmother, already receiving three pensions, is unwilling to share the inheritance. The stepsons likely have legal recourse and should consult with an estate attorney in their state to explore options such as arguing their father’s wishes or negotiating inclusion in the stepmother’s will. The executor is obligated to follow the deceased’s wishes, not the stepmother’s preferences.
January 15, 2023
By
The Admiral Staff
A reader is seeking advice on whether to encourage their 17-year-old grandson, who already saves half his paycheck, to invest in a Roth IRA. The financial advisor suggests it’s a good idea due to the potential for tax-free growth, noting that anyone with earned income can contribute (up to $6,000 in 2022 or $6,500 in 2023), and a custodial Roth IRA would be needed until he
January 9, 2023
By
The Admiral Staff
Rents across the U.S. are rising faster than wages, impacting millions of renters. While expensive cities like Silicon Valley, New York City, and Miami lead the way with typical rents between $2,900-$3,400, cheaper options exist in cities like Wichita, Kansas, and McAllen, Texas (around $1,000-$1,280). Some cities, particularly in Florida and New York City, have seen rent increases of nearly
September 22, 2022
By
The Admiral Staff
The COVID-19 pandemic has significantly impacted the housing market, but buying a home isn’t entirely different. Affordability remains key, and securing a mortgage has become more challenging due to stricter lending requirements, higher down payments (like JPMorgan Chase’s 20% minimum), and updated income verification. However, historically low interest rates (around 3%) offer a potential advantage for those with stable income and decent credit. Ultimately, the best course of action depends on individual financial circumstances and
