If you have been sitting on the real estate sidelines reading your online blogs or news websites, certainly you have seen stories about it. And if you have been out there trying to find a house to buy, you have experienced it first-hand.
There comes a time for homeowners when you need to decide if you want to change things and remodel, or think about buying a new home. Both of these options according to gay realtor have advantages and disadvantages that you need to explore before making the ultimate decision, let’s talk about both.
You may have heard that people spend more time planning their annual vacations than they do planning for retirement. Whether you start your retirement planning years or weeks before that glorious day, you will follow similar steps to determine the lifestyle you can expect in retirement.
A traditional IRA allows you to withdraw up to $10,000 in order to finance a deposit for a first-time home purchase without paying an early-withdrawal penalty (usually 10%). But you may still have to pay income tax on the withdrawal.
As many of you assess the affordability of retirement, you may find one of your primary resources in the form of a pension plan offered through your employer. A pension is essentially a fixed annuity that can provide a stream of income for someone’s lifetime. With a fixed annuity, you are betting that you will live a long life, and the insurance or pension company is betting that you will not. For this reason, they are willing to pay you income for life. The calculation that they use to determine how much to pay you is based on, among other factors, your life expectancy. If you live to receive one check beyond your life expectancy, you win. If you do not, the company wins.
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