November 03, 2011 2:48:49 PM by
Meredith Boggess
High unemployment, rising credit card debt, restrictive lending and a sluggish economy have many people looking for a quick cash option. A research study authored by Brigitte C. Madrian, John Beshears, James J. Choi and David Laibson, “The Availability and Utilization of Plan Loans,” (HKS Faculty Research Working Paper Series RWP11-023, June 2011) reveals that loan provisions are included in 90 percent of 401(k) plans.
Additionally, more than 1 in 5 participants have taken loans from their plans at one time or another and, over a 7-year period from 2002 to 2008, almost half of all participants borrowed from their plans. Based on this surprisingly high use of 401(k) plan loans, an obvious question arises: Is this really a good idea? As with all financial decisions, individual needs and circumstances must be considered. But certainly there are important considerations anyone should understand before taking a loan from a 401(k) plan.
October 19, 2011 12:53:07 PM by
Meredith Boggess
After all of late summer’s anxiety and angst surrounding the debt ceiling debate and Congress’ last minute deal in raising the ceiling, many are wondering how the deal may impact them and what they should do next.
July 31, 2011 2:44:08 PM by
Moneta
For several years, one of my clients and I have been discussing her charitable legacy. Most recently, we had a conversation about Charitable Gift Annuities, and it occurred to me that others may be interested in this topic.
July 18, 2011 3:39:31 PM by
Moneta
My wife, Kimberly, and I have been preparing for our first child, due very soon. Like many expectant parents, we handled the basics: painted the baby’s room, bought furniture, shopped for bottles and bibs and visited daycare facilities. However, because as a Moneta Group Family CFO I spend my days thinking about how families consider their long-term financial planning, we’re also spending time thinking about how our new little one will impact our financial future. I’d like to share some of our financial planning with you and offer some tips that parents (and grandparents) may find helpful during this very exciting transition.
July 07, 2011 3:45:10 PM by
Moneta
With mortgage rates again on the decline, you may be considering a refinancing of your home mortgage. Instinctively, a borrower may be drawn to the 30-year fixed mortgage, seeing it as a great opportunity to lock in a low 4.5 percent rate for the duration of the mortgage. Under many circumstances, this is the right decision. However, for some borrowers, we want to get more creative.