Financial Intel Monthly

Choosing a Credit Card

Apr 22, 2020 2:59:07 PM / by The Retirement Group (800) 900-5867 posted in CAM Annuity, Chevron, credit, ERB, ESRO, ExxonMobil, Financial Planning, Hewitt, In Service Withdrawal, Lump Sum, Northrop Grumman, Option 1 Withdrawal, Pension, Pension Options, Retirement, Retirement Planning, Verizon, 401K, 72t, Age Penalties, Benefit Commencement Date, Workshops, TRG

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Like dandelions in a spring lawn, credit card offers pop up everywhere--stuffing your mailbox, flashing on the Internet, even falling from the magazines in your doctor's waiting room. And they all sound so attractive. "0% APR until next year!" "No fee if you transfer a balance now!" "Low fixed rate!" You're thinking of applying for a card, but how do you decide which offer is best for you?
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How can I get credit if I have no credit history?

Apr 8, 2020 7:20:13 AM / by The Retirement Group (800) 900-5867 posted in CAM Annuity, Chevron, credit, credit score, ERB, ESRO, ExxonMobil, Financial Planning, Hewitt, In Service Withdrawal, Lump Sum, Northrop Grumman, Option 1 Withdrawal, Pension, Pension Options, Retirement, Retirement Planning, Verizon, 401K, 72t, Age Penalties, Benefit Commencement Date, Workshops, TRG

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It's the old catch-22. You cannot establish a credit history without having credit, and you cannot get credit without a credit history. But if you work at it, this problem can be overcome. While you create a history, be sure your efforts will be reported to the credit bureaus.

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How to Make the Tax Code Work for You

Apr 2, 2020 11:03:00 AM / by The Retirement Group (800) 900-5867 posted in CAM Annuity, Chevron, credit, credit score, ERB, ESRO, ExxonMobil, Financial Planning, Hewitt, In Service Withdrawal, Lump Sum, Northrop Grumman, Option 1 Withdrawal, Pension, Pension Options, Retirement, Retirement Planning, Verizon, 401K, 72t, Age Penalties, Benefit Commencement Date, Workshops, TRG

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By April 19, 2019, 137million taxpayers had dutifully filed their federal income tax returns.1 And they all made decisions about deductions and credits – whether they realized it.

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Borrowing Options: Benefits and Dangers of Borrowing

Apr 1, 2020 7:23:08 AM / by The Retirement Group (800) 900-5867 posted in CAM Annuity, Chevron, credit, creditscore, ERB, ESRO, ExxonMobil, Financial Planning, Hewitt, In Service Withdrawal, Lump Sum, Northrop Grumman, Option 1 Withdrawal, Pension, Pension Options, Retirement, Retirement Planning, Verizon, 401K, 72t, Age Penalties, Benefit Commencement Date, Workshops, TRG

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What are the benefits of borrowing money?

Successful borrowing can help you create a positive credit history

Successfully borrowing and paying off your loans as agreed can help you establish a good credit rating and make obtaining additional credit possible. Even if you do not typically use credit often, it is good to have the ability to do so in the event of an emergency.

Leverage can be used to increase the return on your investments

If you can borrow money, you can use leverage to increase the return on your investments. This is possible because you can own and control more property with less of your own money. The following illustrates how you can increase the return on your investment using leverage:

Hal had $50,000 that he wanted to invest in real estate. He found a house that cost $150,000. He convinced Frank and Bob to invest $50,000 each in the same house. They purchased the house and each owned one-third. The value of the house increased to $180,000 and was sold. Frank, Hal, and Bob shared a $30,000 profit. Each realized a $10,000 gain, or a 20 percent return, on their investment.

Hal, decided to invest in more real estate. However, this time he decided to use leverage to increase the return on his investment. He made a $50,000 down payment on a $150,000 house and took out a mortgage for $100,000. By borrowing in this manner, he was able to own and control the entire asset, rather than just one-third. When the house increased in value to $180,000, he sold it, paid off the mortgage, and realized a $30,000 gain, or a 60 percent return, on his investment.

The example is simplified and does not take into consideration taxes, interest, or rental income, but it illustrates the notion that by using leverage, you can control more assets using less of your own money.

The problem with leverage is that it can work both ways. Assume that the two parcels of real estate in the previous example dropped in value to $120,000. In the first transaction, Hal would have lost $10,000, for a 20 percent loss on his investment. In the leveraged transaction, Hal would have lost $30,000, for a 60 percent loss on his investment.

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Establishing a Credit History

Mar 31, 2020 7:21:50 AM / by The Retirement Group (800) 900-5867 posted in CAM Annuity, Chevron, credit, credit score, ERB, ESRO, ExxonMobil, Financial Planning, Hewitt, In Service Withdrawal, Lump Sum, Northrop Grumman, Option 1 Withdrawal, Pension, Pension Options, Retirement, Retirement Planning, Verizon, 401K, 72t, Age Penalties, Benefit Commencement Date, Workshops, TRG

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What is credit?

When you say you want credit, you are probably asking for payment terms on a purchase. You are seeking to purchase goods or services today and forego all or a portion of the payment until a later date. You may or may not be bound by a payment plan. You may or may not be required to pay a percentage of the purchase price up front (down payment). You may or may not pay a fee (interest) in exchange for the privilege of buying now and paying later. In all cases, you are making a purchase and being trusted to make final payment at some time in the future.

Why is credit so important?

Credit provides you with financial flexibility and security

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Credit Traps for the Unwary

Feb 28, 2020 7:18:48 AM / by The Retirement Group (800) 900-5867 posted in CAM Annuity, Chevron, credit, creditscore, ERB, ESRO, ExxonMobil, Financial Planning, Hewitt, In Service Withdrawal, Lump Sum, Northrop Grumman, Option 1 Withdrawal, Pension, Pension Options, Retirement, Retirement Planning, Verizon, 401K, 72t, Age Penalties, Benefit Commencement Date, Workshops, TRG, traps, fear

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Understanding Your Credit Report

Jan 26, 2019 9:25:21 AM / by The Retirement Group (800) 900-5867 posted in credit, creditscore, Early Retirement, Economic Report, Economy, Financial Planning, In Service Withdrawal, income, invest, Money, priorities, Retirement Planning, retirement planning, savings, stocks, The Retirement Group, 401k, 401K.com, 72T, access.att, Age Penalties, ATT

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Choosing a Credit Card

Jan 25, 2019 7:27:21 AM / by The Retirement Group (800) 900-5867 posted in credit, debt, Early Retirement, Economy, ESRO, financial freedom, Financial Planning, income, invest, Money, money management, Retirement, stocks, The Retirement Group LLC, 401K, 401k, 401K.com, 72T, access.att, Age Penalties, AT&T seminar

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Organizing Your Finances When Your Spouse Has Died

Jan 18, 2019 10:47:27 AM / by The Retirement Group (800) 900-5867 posted in credit, family, health insurance, income, investing, life savings, priorities, retirement planning, 401k, 401K.com, 72T, access.att, Age Penalties

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First-Time Homebuyer Tax Credit

Nov 1, 2017 8:10:09 AM / by The Retirement Group (800) 900-5867 posted in credit, ExxonMobil, financial freedom, Money, Option 1 withdrawal, Pension Options, Retirement, stocks, The Retirement Group, The Retirement Group LLC, Verizon, 401K, 401K.com, AT&T 401K, att workshop, benefit commencement date, Verizon Seminar, Verizon Workshop

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