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September 21, 2023
By
The Admiral Staff
This article explores the rising costs of pet care and introduces pet insurance as a potential solution. Americans are spending billions on vet bills, with many facing unexpected expenses of $2,000-$4,000. Pet insurance works by covering a portion of vet bills for illnesses and injuries, typically involving a monthly premium, annual deductible, and co-insurance. Costs vary based on the pet’s age, breed, and location, with dog insurance averaging $22/month and cat
July 6, 2023
By
The Admiral Staff
Housing costs are rising faster than incomes, impacting many Americans. To combat this, homeowners can explore several strategies to reduce mortgage payments and overall housing expenses. Options include loan modifications, eliminating private mortgage insurance (PMI) through a larger down payment or alternative loan structures, buying a less expensive home, downsizing, refinancing, reducing property taxes and insurance costs, making extra payments, and strategically utilizing credit card offers. Careful planning and consideration of long-term costs are essential when making decisions about mortgage management.
May 21, 2023
By
The Admiral Staff
Expecting parents in the U.S. often face unpaid parental leave, creating a potential income gap. Financial planner Kim Tran suggests proactively saving to ease this transition. Her strategy involves scaling back non-essential expenses like student loan payments and diverting the extra funds into savings to cover income loss during leave and anticipate increased utility bills due to factors like winter and visiting family.
April 20, 2023
By
The Admiral Staff
A recent article challenges the common advice to have a specific multiple of your salary saved for retirement by a certain age, citing Fidelity’s chart which suggests having 10 times your salary saved by age 67. The author conducted a poll among colleagues and found most didn’t meet these recommendations, arguing that such charts rely on unrealistic assumptions like retiring at 67 and living to 92, and require a 15% savings rate—difficult for many given rising housing costs and
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
