Refinancing Your Mortgage: Pros & Cons

Refinancing Your Mortgage: Pros & Cons

The goal of refinancing a home loan is to obtain a lower interest rate. A lower interest rate means a lower mortgage payment, allowing you to save on interest paid over the life of the loan.

It all sounds great, right? Well, don’t jump the gun. There are both benefits and drawbacks behind refinancing. With help from our friends at North Pacific Mortgage in Bothell, WA here is a list of pros and cons to consider before refinancing:

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What You Need To Know About The Federal Reserve

What You Need To Know About The Federal Reserve

You may periodically notice news headlines that state one of the following:

“The Fed decides to cut interest rates.”
“The Fed hikes rates.”
”The Fed leaves rates unchanged.”

You might ask yourself what these mean. What interest rates? Who is “the Fed”?

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2019 Tax Planning: 3 Things to Consider

2019 Tax Planning: 3 Things to Consider

For the first time since 2013, the amount you can contribute into an IRA is increasing, from $5,500 to $6,000 ($7,000 if age 50 or older). The 401k contribution limit is increasing as well. The amount of pay you can defer into your 401k plan goes up from $18,500 to $19,000 ($25,000 if 50 or older). This chart details the 2019 contribution limits for various accounts, as well as the gift and estate tax exclusions. Take a look:

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401k And IRA Contribution Limits For 2019

For the first time since 2013, the amount you can contribute into an IRA is increasing, from $5,500 to $6,000 ($7,000 if age 50 or older). The 401k contribution limit is increasing as well. The amount of pay you can defer into your 401k plan goes up from $18,500 to $19,000 ($25,000 if 50 or older). This chart details the 2019 contribution limits for various accounts, as well as the gift and estate tax exclusions. Take a look:

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Why So Emotional? Avoid These 5 Irrational Thoughts About Investing

Investing is emotional, even though it should not be. They impair whatever investment discipline you have, clouding better judgment.

So rather than trying to remove our emotions completely, look to harness them. This starts with acknowledging certain biases you have, many of which you probably deny. Here are 5 emotionally driven biases that can hurt you as an investor:

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Your Most Important Job Before Retirement

You plan to retire within 5 years. But can you?

There are over 76 million “baby boomers” in the U.S. - 1 out of every 4 people - born between 1946 and 1964. The Social Security Administration defines retirement as age 67, which means most baby boomers are closing in on retirement. If this is you, you may be asking yourself...

“Have we saved enough?”

Hopefully the answer is yes, but for many boomers the answer is unclear. Consider this your most important job yet.

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