.comment-link {margin-left:.6em;}

Money

The www.FedPrimeRate.com Personal Finance Blog and Magazine

Saturday, August 20, 2016

Six Million American Homeowners are Still Underwater

Nightly Business Report: 6 million homeowners still owe more on their mortgages than their home is worth (negative equity.)




Labels: , , , , ,


--> SITEMAP <--

Friday, June 17, 2016

Wells Fargo: Many Potential Buyers Are Misinformed About Mortgages

From this short, NBR video segment: three mortgage myths:

  1. Must have a 20% down payment
  2. Must have high income
  3. Must have perfect credit

Labels: , , , , ,


--> SITEMAP <--

Sunday, June 12, 2016

Federal Reserve Report: Household Net Worth Sets New Record-High

According to the Federal Reserve's recent Financial Accounts report, in terms of both current and inflation-adjusted dollars, Americans households were at their wealthiest ever, during the first quarter of 2016.

Q1, 2016: $88.087 trillion

=============

2015: $87.25 trillion

2014: $84.201 trillion

2013: $79.383 trillion

2012: $69.598 trillion

2011: $63.545 trillion

2010: $62.316 trillion

2009: $58.094 trillion

  • 2008:  $56.214 trillion

2007:  $66.577 trillion

2006:  $66.095 trillion

=============

So, from the painful days of the 2008 banking crisis and start of the Great Recession, to the first quarter of 2016, household wealth has increased by $31.873 trillion (56.7%.)

=============

Household Net Worth
Household Net Worth


=============


The Fed' next Financial Accounts report will be released on September 16, 2016.  Stay tuned for the updated figures...

Labels: , , , , , , ,


--> SITEMAP <--

Monday, May 30, 2016

Federal Reserve Report On The Financial Well-Being of American Households for 2015

A report on the decision-making and financial well-being of American households during 2015, from the Federal Reserve:



Click here for the transcript (PDF).

Labels: , , , ,


--> SITEMAP <--

Saturday, May 28, 2016

2016 Check On Social Security Estimated Benefits

Recently stopped by the Social Security Administration (SSA) website to check on my benefits.  The address is:


First, some context with regard to my situation:

  • I was born at the start of the greatest decade ever: the 1970's

  • I worked in corporate America until 1999, when I decided it was time for me to do what comes natural to people with my personality: self-employment.
==========

If I die this year, my daughter can count on around $659 per month from the SSA.

Notice that that one-time death benefit is for my spouse (I'm not married) or minor child is only $255.


==========

In order for me to qualify for retirement benefits when I reach 65, I'd need 40 "credits" of work.   Currently, I have 37.

 



==========

If I am not able to accumulate the retirement-minimum 40 credits by the time I'm 65, I will not qualify for Medicare.

 

==========

The system is setup so that even when deserving folks apply, seldom do they get approved, as a matter of course.

Feeling useless is pretty much a death sentence for someone like me, so this is n/a.

NB: I don't understand why the SSA is offering me a link to apply for disability benefits when they've already let me know that I don't qualify.  ???????????


==========


Bottom line: Based on these numbers, it's quite clear that one should always be realistic about Social-Security benefits.  Amen.

Labels: , , , , , , ,


--> SITEMAP <--

Wednesday, April 20, 2016

Life Insurance Benefits Often Denied

Here's a highly recommended (and brief) segment detailing examples of life insurance companies deny benefits, produced by the folks at CBS News:

Labels: ,


--> SITEMAP <--

Wednesday, March 23, 2016

Life Insurance's Dirty Secret

From CBS News, a very interesting segment on how certain life-insurance companies have dealt with veteran-related survivor benefits:

Labels: , , , ,


--> SITEMAP <--





FedPrimeRate.com
Entire website copyright © 2016 FedPrimeRate.comSM


Information in this website is provided for educational purposes only. The owners of this website
make no warranties with respect to any and all content contained within this website. Consult a
financial professional before making important decisions related to any investment or loan
product, including, but not limited to, business loans, personal loans, education loans, first
or second mortgages, credit cards, car loans or any type of insurance.