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Amelia Josephson

Mortgage, Home Buying and Credit Card Expert

Amelia Josephson is a writer passionate about covering financial literacy topics. Her areas of expertise include retirement and home buying. Amelia's work has appeared across the web, including on AOL, CBS News and The Simple Dollar. She holds degrees from Columbia and Oxford. Originally from Alaska, Amelia now calls Brooklyn home.

Posts by Amelia Josephson:

by Amelia Josephson Nov 14, 2022

A 401(k) hardship withdrawal is the action of taking money out of your workplace retirement plan early to deal with a life event that requires some money. You typically can’t withdraw money from your account until you reach age 59.5 – unless you need it for a specific event, in which case, a 401(k) hardship withdrawal, or hardship distribution, could help you get around some IRS penalties. These withdrawals are subject to strict conditions, however, and there are still some tax implications. If you’re thinking of taking a hardship distribution, or just want help putting together your financial plan, consider finding a financial advisor. Read more

by Amelia Josephson Jan 21, 2022

We all know that saving for retirement is a good thing. We often think of retirement savings in terms of a percentage of our paychecks, but what about when someone doesn’t work? The IRS has a solution that allows a non-working member of a married couple to save for retirement in an IRA. It’s called, appropriately enough, a spousal IRA. Here’s how it works. Consider working with a financial advisor as you decide how to set up retirement savings accounts. Read more

by Amelia Josephson Jul 09, 2019

Taking on debt is a thorny subject. Signing on an affordable mortgage is one thing. Racking up credit card debt on unnecessary purchases? Quite another. Any time you borrow money, you put your finances at risk. That’s why it’s important to do your research before committing to new debt. If you’re not sure whether to borrow money, read our list of dos and don’ts. And if you need hands-on help managing your financial life, consider linking up with a financial advisor. Read more

by Amelia Josephson Jun 12, 2019

A clawback is the legally required return of incentive compensation such as a bonus or stock grant. Once applicable only to top company officers, clawback provisions are appearing in more employment… Read more

by Amelia Josephson Apr 25, 2022

A commercial real estate loan, also known as a business mortgage, is a loan for property used for commercial purposes. The collateral for the mortgage can partially be the building itself, whether… Read more

by Amelia Josephson Sep 02, 2022

A 457(b) plan is an employer-sponsored, tax-deferred retirement savings vehicle available to some state and local government employees. It works like a 401(k) in that employees can divert a portion… Read more

by Amelia Josephson Oct 21, 2022

Low- and middle-income families who want to buy homes may be able to get a bond loan. State and local authorities issue bond loans to subsidize the cost of becoming a homeowner for those who meet… Read more

by Amelia Josephson Apr 20, 2022

While saving is the first step to building wealth, putting your savings to work through investing is typically the first step to growing that wealth. While stocks are usually the first thing people… Read more

by Amelia Josephson Jul 09, 2019

To get preapproved for a mortgage, you’ll need a few documents detailing your income, assets and debt obligations. This helps banks and other mortgagees determine exactly how much they’re willing to… Read more

by Amelia Josephson Aug 15, 2019

Exchange-traded funds, or ETFs, are popular investment securities that track stock market indexes, a particular commodity, bonds, or a particular category of assets like tech stocks.  A leveraged ETF… Read more

by Amelia Josephson Jan 12, 2022

When you’re ready to take withdrawals from your IRA, you’ll find there are plenty of rules to follow. Failure to stick to these guidelines could have serious ramifications. The most notable among… Read more

by Amelia Josephson Jan 20, 2022

Regardless of when you do it, making a withdrawal from your 401(k) involves following a handful of rules. That’s because you’re tapping your tax-deferred retirement savings, which means the IRS keeps… Read more

by Amelia Josephson Aug 25, 2022

A nondeductible IRA is a retirement plan you fund with after-tax dollars. You can’t deduct contributions from your income taxes as you would with a traditional IRA. However, your non-deductible… Read more

by Amelia Josephson Apr 09, 2019

So you took the plunge and bought a house, with a mortgage to match. You may be wondering if you need life insurance to cover the mortgage in case something happens to you before it’s paid off.… Read more

by Amelia Josephson Oct 28, 2022

If you’re considering buying a new home, a tax abatement may provide an incentive that’s hard to pass up. These beneficial tax programs allow for a long-term break on your property tax bill. Savings… Read more

by Amelia Josephson Oct 18, 2021

Think you want to help people manage their money and meet their ultimate financial goals? If so, you may be wondering how to become a financial planner. The process for becoming a financial planner… Read more

by Amelia Josephson Aug 12, 2022

Variable annuities offer strong growth potential and considerable risk all at once. Because the returns you earn through a variable annuity are based on the performance of an investment portfolio,… Read more

by Amelia Josephson Dec 01, 2022

Social Security provides a progressive benefit. This means it’s weighted so that it replaces a larger percentage of earnings for workers who were on the low end of the income scale than on the high… Read more

by Amelia Josephson Jan 19, 2022

A Roth 401(k) brings many of the benefits of a traditional employer-sponsored 401(k) retirement savings vehicle. But with a traditional 401(k), you save for retirement with pre-tax dollars and write… Read more

by Amelia Josephson Jan 10, 2022

If you own an investment property and collect rent from your tenants, it’s important to declare that rental income on your taxes. You can, however, deduct expenses you incur to maintain your rental… Read more

by Amelia Josephson Nov 18, 2022

The federal income tax rates remain unchanged for the 2022 tax year are 10%, 12%, 22%, 24%, 32%, 35% and 37%. The income thresholds for each bracket, though, are adjusted slightly every year for… Read more

by Amelia Josephson Aug 08, 2018

The federal minimum wage has been $7.25 since 2009. In many states, it’s the federal minimum wage that holds sway. However, some states, counties and cities have enacted their own laws establishing a… Read more

by Amelia Josephson Jul 09, 2018

Military veterans with disabilities have access to special government grants. One such grant is the HISA grant, which veterans with disabilities can use to make their homes accessible. Read on to… Read more

by Amelia Josephson Jul 07, 2017

SAH grants are flexible grants from the Department of Veterans Affairs (VA). VA offers SAH grants to veterans and servicemembers with certain service-related disabilities. Qualifying veterans can use… Read more

by Amelia Josephson Jul 03, 2017

SHA grants are grants available to servicemembers and veterans with certain kinds of service-connected disabilities. The Department of Veterans Affairs (VA) offers SHA grants to help veterans adapt… Read more