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Mark Henricks

Personal Finance Expert

Posts by Mark Henricks:

by Mark Henricks May 15, 2019

Mortgage insurance premiums (MIPs) pay for insurance to protect mortgage lenders against the risk that borrowers won’t pay them back. MIPs add to a borrower’s costs, but they allow you buy a house with a lower down payment than the usual 20%. There are different kinds of mortgage insurance premiums, which differ in amount, timing and other rules. Read more

by Mark Henricks Apr 16, 2019

A cafeteria plan – also known as a Section 125 plan, after the portion of the IRS code that regulates the plans – lets employees redirect part of their salaries and wages to pay for certain benefits. Section 125 plans let employees use pre-tax dollars for these benefits, which include health and life insurance. Read more

by Mark Henricks Apr 12, 2019

A paraplanner is a financial services professional who handles administrative, accounting and other support tasks for a financial advisor. A paraplanner is a financial advisory office’s equivalent of a paralegal. Read more

by Mark Henricks Apr 05, 2019

When choosing a financial advisor, pay attention to what certifications they’ve obtained. Common certifications you’ll see include certified financial planner (CFP), chartered financial analyst (CFA)… Read more

by Mark Henricks Apr 02, 2019

Retirement is on many people’s minds, whether they are approaching it or still early in their careers and just hoping they won’t have to work until they’re nearly 100. Those contemplating retirement… Read more

by Mark Henricks Apr 02, 2019

So you’re the proud owner of a retirement account and you’re in or approaching your 70s. This is about the time that required minimum distributions, or RMDs, will come into play. But what happens… Read more

by Mark Henricks May 17, 2019

If you’re like many people with an individual retirement account, the money in your IRA likely represents one of your largest assets. And if you find yourself in a tight financial spot, you may want… Read more

by Mark Henricks Feb 28, 2019

“Annuity due” is a financial term that you may encounter when you are borrowing money, paying rent, saving for retirement or purchasing an annuity. Annuity due means that a payment is due at the… Read more

by Mark Henricks Feb 20, 2019

AGI is short for “adjusted gross income.” This number appears on your Form 1040 and helps determine which deductions and credits you can take and therefore how much tax you finally pay. For tax year… Read more

by Mark Henricks Jan 10, 2019

Have you ever been on vacation and wondered how delightful it might be to have the chance to live in that locale, even part-time? The tangible next step to this realization could be looking at a… Read more

by Mark Henricks Jan 10, 2019

You can fulfill the American dream of homeownership by owning an apartment just as you can with a traditional home. Owning instead of renting can also be good for your finances, as you’re building… Read more

by Mark Henricks Jan 10, 2019

One of the most popular ways to organize a business is as a limited liability company, otherwise known as an LLC. LLCs require less paperwork than C corporations and S corporations, while giving… Read more

by Mark Henricks Jan 04, 2019

An annuity can provide you with income that is guaranteed for as long as you live.  These retirement savings vehicles do provide some tax benefits by letting earnings grow tax-deferred. However, at… Read more

by Mark Henricks Jan 04, 2019

Choosing the right way to save for retirement based on your personal needs is easier said than done. There is a plethora of options available, with annuities and 401(k) plans being some of the most… Read more