No doubt about it: The market has had a brutal couple of months. It’s upsetting to check your retirement account and see that some sectors are down as much as 40-50 percent. Granted, some weeks of upswings have been a welcome respite — but is the downward pressure over? Is a big rebound coming? Retirees […]
finance
Posted inAround West Sound
What Everyone Needs to Do in Light of the Recent Unemployment Scam by International Ring
An international ring has defrauded the state of Washington of hundreds of millions in fraudulent unemployment claims — which means that the identity of tens of thousands state residents have been stolen. According to media reports, a well-organized Nigerian ring orchestrated the scheme, targeting primarily Washington but also potentially affecting several other states. The Kitsap […]
Posted inAt Home
Mortgage Relief and COVID-19 Scams: What You Need to Know
Unfortunately, during times of hardship, families are often targeted by fraud artists attempting to take advantage of those needing assistance. The COVID-19 crisis is no exception, with many scammers pretending to extend a critical lifeline to struggling homeowners through so-called “foreclosure rescue fraud.” According to Freddie Mac, this scheme involves bad actors offering false promises […]
Posted inAt Home
What to Consider When Reviewing Your Homeowners Insurance Policy
Most homeowners agree that insurance is a necessity, whether it’s for protection and peace of mind or simply because mortgage lenders require it. Having coverage isn’t nearly enough, though. You want to make sure you have the right coverage at the right cost, which is why it’s important to check your policy at least annually. […]
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How to Prepare Young Adults for Financial Independence
As you prepare your young adult for college and beyond, it’s important to talk about the road to financial independence, which includes building healthy credit. This is vital for big life moments like getting a car, apartment, house or job, and your child’s credit report will be the financial resume necessary to help him or […]
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Nearing Retirement? How to Spend Wisely During the Holiday
While an enjoyable part of the holiday season is giving to others, those nearing retirement would be prudent to give something back to themselves as the year nears its end. That’s the advice from some retirement planners: Reduce holiday spending to provide more money for your retirement savings. But it’s a well-known fact that much […]
Posted inAt Home
10 Terms and Acronyms Homebuyers Need to Know
PMI, APR, LTV — these unfamiliar acronyms don’t need to bewilder or intimidate uninitiated homebuyers. To help you negotiate the homebuying process like a pro, Freddie Mac is sharing definitions of 10 key acronyms you’ll encounter as you meet with lenders, make a down payment and pay back your loan. 1. APR (annual percentage rate): […]
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Common Insurance Myths
Editor’s note: A recent study by InsuranceQuotes.com showed that many people have misconceptions about their insurance coverage. For example, most incorrectly believe that comprehensive auto coverage covers car damage from a collision, and many still believe insurance for a red car is higher. WestSound Magazine asked InsuranceQuotes.com analyst Nick DiUlio to discuss some of the […]
Posted inAt Home
5 Steps to Prep for Buying a Home
For many Americans, making the jump to buying that first house is a significant achievement that allows them to put their mark on their own space, while creating room for family and pets. But how do you know you’re ready? Americans see home-ownership as an investment in their future, yet they are concerned about the […]