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Lee Huffman

Personal Finance Expert

Posts by Lee Huffman:

by Lee Huffman Mar 24, 2022

A diversified portfolio enables investors to minimize risk while participating in multiple investment sectors. Over time, the performance of these different sectors causes your portfolio to be out of balance. Rebalancing brings your investment assets back to your intended allocation and can be done manually or automatically. Here’s what you need to know about automatic rebalancing and how it works. A financial advisor can help you create a financial plan for your investment needs and goals. Read more

by Lee Huffman Mar 22, 2022

For many homeowners, one of the milestones on the path to financial independence is being able to pay off their mortgage. With typical mortgages lasting 30 years, it can take a long time to meet this goal. But what happens when you pay off your mortgage? There are, in fact, a number of steps to making your final mortgage payment and figuring out what to do next. Consider working with a financial advisor as you work toward your financial goals and overall independence. Read more

by Lee Huffman Mar 15, 2022

Whether you have access to a workplace retirement account or not, everyone with earned income can contribute to their own IRA. However, depending on your income, work situation and the type of IRA chosen, your contributions may or may not be tax-deductible. There are several types of IRAs available and it’s important to know whether IRA contributions are tax-deductible. A financial advisor may also be able to help with some of these questions. Consider using SmartAsset’s free advisor matching tool today to find advisors who serve your area. Read more

by Lee Huffman Mar 10, 2022

Getting a home loan is a big financial decision. This is why it’s important to work with someone who can get the lowest rate and best terms on your mortgage. When looking for a mortgage, you’ll need… Read more

by Lee Huffman Mar 09, 2022

After a lifetime of work, you may be considering retiring a few years before the traditional retirement age of 65. The stock market has performed well, your home has a lot of equity and you want to… Read more

by Lee Huffman Mar 09, 2022

When someone passes away, the executor of the estate is responsible for distributing the assets. Property, furnishings and other tangible items are relatively easy to distribute to heirs. However,… Read more

by Lee Huffman Feb 28, 2022

While many people dream of retiring as soon as possible, others love their jobs and want to work as long as possible. Older workers who want to retire at 70 have multiple advantages over others who… Read more

by Lee Huffman Feb 23, 2022

Consumers and business owners purchase insurance to protect against financial risks. Insurance companies have risks too, though, and there is always a chance the firm will go under or be unable to… Read more

by Lee Huffman Feb 22, 2022

Investors often use trusts to protect their assets and exert control over their estate after they’ve passed away. The problem with trusts is that you cannot place your retirement account within them.… Read more

by Lee Huffman Feb 17, 2022

Most people use the terms real estate taxes and property taxes interchangeably. However, while both terms cover taxes paid on real estate, property taxes include other types of assets as well. Let’s… Read more

by Lee Huffman Feb 17, 2022

Investors seeking income often turn to dividends because of their advantages over bonds and bank deposit accounts. Dividends not only provide consistent cash flow, but they can also allow investors… Read more

by Lee Huffman Feb 16, 2022

Real estate continues to be an appealing asset class for investors as property values rise. While many investors choose to invest in homes or apartment buildings, others prefer to invest in raw land.… Read more

by Lee Huffman Feb 14, 2022

The alternative minimum tax (AMT) was created to close loopholes and ensure that all U.S. taxpayers pay their fair share of taxes. When you pay an AMT, some or all of that additional tax is for… Read more

by Lee Huffman Feb 14, 2022

Lifecycle funds – also known as “target-date funds” – are an option for retirement planners that doesn’t require regular upkeep. By reducing risk as you get closer to your goal, lifecycle funds… Read more

by Lee Huffman Feb 10, 2022

Financial advisors charge fees for their services. Depending on how the advisor gets paid, you may pay fees directly to them or indirectly through the investments they offer. Flat-fee financial… Read more

by Lee Huffman Feb 09, 2022

Investors looking for recurring income should consider investments that offer dividends. Dividend investments offer consistent income, an opportunity for asset appreciation and the potential for… Read more

by Lee Huffman Feb 08, 2022

Many investors use fixed-income investments to balance risk and provide regular income. Some investors choose individual bonds, while others invest in bond mutual funds. A fixed-income ETF is another… Read more

by Lee Huffman Feb 04, 2022

When homeowners seek to reduce their monthly mortgage payments, they generally focus on refinancing their homes. The problem with this approach is that it resets the clock on your mortgage and can… Read more

by Lee Huffman Feb 03, 2022

Seniors looking for retirement income often purchase an annuity. Annuities provide guaranteed income for a determined period of time in exchange for premium payments earlier in life. Some investors… Read more

by Lee Huffman Feb 03, 2022

Most investors are familiar with the concept of “tax-loss harvesting,” which allows you to harvest your losses when an investment has lost money. But, did you know that you can harvest gains as well?… Read more

by Lee Huffman Feb 03, 2022

Most homeowners use traditional mortgages when buying their primary or vacation home. However, when you own multiple properties, it makes sense to explore other options that may be better suited to… Read more

by Lee Huffman Feb 03, 2022

While homeownership is called “the American Dream,” owning a home also means taking out a mortgage for most people. And you don’t truly own your home until the mortgage is paid off, so many families… Read more

by Lee Huffman Jan 13, 2022

Annuities are insurance policies that are popularly used by retirees for retirement income. While many investors purchase annuities with a lump sum of money, others contribute to their annuities over… Read more

by Lee Huffman Jan 13, 2022

The main goal of most investors is to garner enough money in the market to fund their retirement years. Yet, many investors are unsure of how to properly pull money out of their accounts once they’re… Read more

by Lee Huffman Dec 30, 2021

When a spouse dies, the surviving spouse typically inherits all of the deceased spouse’s assets. However, this may not be the best approach based on the size of your estate or your tax situation. By… Read more