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What You Need to Know about COBRA Health Benefits

In today’s unstable job market, the possibility of sudden job loss is on the minds of many Americans. Being downsized in the current economy deals a double blow as it is more difficult to find a new job when most employers are tightening their belts and reducing their workforce. Unemployment not only means the loss of a steady income but also the end of group health insurance. That can put a family at risk until a new job picks up the slack. COBRA health benefits can help in this situation. COBRA stands for Consolidated Omnibus Budget Reconciliation Act. The Act was originally...

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Investing For the First Time: What to Do in a Shaky Market

Posted December 20, 2009 by Bernz

The past year has represented one of the most volatile and risky eras in investment history in the United States, especially in the stock market. For those with existing investment portfolios, watching the decline in market value every day has been demoralizing. Retirement asset values have been slashed and many investors are wondering if they will even be able to afford to retire.

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But what do you do if this is the very first time that you are investing? You may be just graduating from university or trying to put away some money for your children’s college tuition. How can you ensure that you make good decisions in this shaky economy?

1) Find the right advisor. An effective investment advisor knows the current state of the market and can help you understand the risks and rewards of each of its sectors. Choose an advisor who does not earn income based on how much or what types of investments you buy. Your investment advisor should also be experienced. This recessionary financial market is no time for you to try out a wet-behind-the-ears advisor. Read More »

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Hiring a Career Coach- A Path to a Higher-Paying Job

Posted December 8, 2009 by Bernz

In today’s constrictive job market, contemplating a job change can be a scary proposition. Employers are laying off workers on a daily basis and more and more job seekers are searching for fewer and fewer jobs. Most employees simply want to hold on to the jobs they have for dear life and ride out the destructive wave.

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However, this difficult employment market may be the perfect time to seek out a better job and the best way to do that is with a career coach. When the job market is contracting, it is the positions that require knowledge and skill that will remain the longest. Upgrading your education and skills can not only bring in a bigger paycheck but can solidify your position in the market and make you more attractive to potential employers.

It can be difficult to know what you need to upgrade and how to market yourself to potential new employers. That’s where career coaches come into play. A career coach’s job is to obtain a clear understanding of your strengths, weaknesses, and aspirations as it relates to the employment field. A career coach can help you fill in the gaps in your skills in your chosen profession and can lead you to leveraging your existing skills in a new direction. For example, if you have done general office work- filing, responding to email, and organizing for a small veterinary office, a career coach may help you realize that those skills are in great demand in the government sector, where wages can be substantially higher. Read More »

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Is Mortgage Insurance Worth the Cost?

Posted November 11, 2009 by Bernz

When applying for a mortgage for your home or vacation home, it is likely that your bank or mortgage company will bring up the issue of mortgage insurance. In fact, they may even require that you take out a mortgage insurance policy. Mortgage is often explained by those who sell it as inexpensive insurance that will pay off the mortgage in the event of your death. That would free up your spouse’s remaining financial assets and reduce the burden on him or her.

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But is mortgage insurance really worth the cost? In order to make that assessment, it’s important to understand what it really is. Mortgage insurance is a form of life insurance. Unlike life insurance, however, whose proceeds can be used for any purpose, mortgage insurance only pays down the balance left outstanding on the mortgage at the time of death. There is no flexibility to use the proceeds for any other financial obligations.

A mortgage may be one of your largest financial debts and would likely be paid off with the proceeds of a life insurance policy anyway. There are a few differences between life insurance and mortgage insurance that make the former a better choice for insuring your mortgage. Read More »

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Posted in Investing in Real Estate, Mortgage Insurance | 1 Comment »

Is Now the Right Time to Buy a House?

Posted November 2, 2009 by Bernz

The roller coaster ride that was the real estate market in the United States for the past year continues unabated in spite of federal efforts to bring some stability to the markets. Foreclosures across the country continue to rise and housing prices continue to fall. Mortgage rates are at historic lows, and that, coupled with low prices, is enticing many house seekers to consider dipping a toe back in the water.

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But is now a good time to buy a first home or to upgrade from your existing one? The answer is “it depends”. It may be a very long time before real estate once again becomes a solid investment strategy. The days of steady housing price increases we have seen over the last decade may even be over forever.

It’s important to separate out your investment goals from your need for shelter. The latter you will need no matter what form it takes: a house, an apartment or even a tent in the woods. Evaluating whether buying a house meets your need for shelter is a simple task of comparing it to the alternatives. How does the monthly mortgage payment compare to rental payments you would have to make on a leased property? What happens to rates when you have to renew the mortgage? What is the condition of the house (i.e. could it result in thousands of dollars in repairs)? What other expenses would you incur that you wouldn’t have to with renting?   Read More »

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Posted in Investing in Real Estate | No Comments »

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