Menu burger Close thin Facebook Twitter Google plus Linked in Reddit Email arrow-right-sm arrow-right
Loading
Tap on the profile icon to edit
your financial details.

Mark Henricks

Mortgage, Retirement and Investing Expert

Mark Henricks has reported on personal finance, investing, retirement, entrepreneurship and other topics for more than 30 years. His freelance byline has appeared on CNBC.com and in The Wall Street Journal, The New York Times, The Washington Post, Kiplinger’s Personal Finance and other leading publications. Mark has written books including, “Not Just A Living: The Complete Guide to Creating a Business That Gives You A Life.” His favorite reporting is the kind that helps ordinary people increase their personal wealth and life satisfaction. A graduate of the University of Texas journalism program, he lives in Austin, Texas. In his spare time he enjoys reading, volunteering, performing in an acoustic music duo, whitewater kayaking, wilderness backpacking and competing in triathlons.

Posts by Mark Henricks:

by Mark Henricks Sep 23, 2022

Using Social Security’s Self Lock feature keeps anyone from using your Social Security number for credit or employment-related fraud. This prevents someone else’s wages from being reported to the Internal Revenue Services as your wages. However, it also will make it difficult or impossible to borrow money or get a new job. Self Lock automatically expires after a year or whenever you take action to cancel it. A financial advisor can provide guidance on all matters financial, including identify protection. Read more

by Mark Henricks Sep 23, 2022

Passive income and residual income are two types of personal revenue that separately or together can have a sizable effect on an individual’s financial comfort and ability to reach financial goals. Passive income is money earned without significant ongoing active effort while residual income refers to the funds an individual has left after living expenses have been covered. Generating passive income can increase the amount of an individual’s residual income. Reducing living expenses or finding ways to create additional earned income can also boost residual income. You can speak to a financial advisor about how residual and passive income can play a role in your finances. Read more

by Mark Henricks Sep 23, 2022

A sum of $50,000 in cash can earn about $65 a year in an average bank savings account or as much as $2,250 if you put it into a high-quality corporate bond fund. Other options include money market accounts, money market funds, certificate of deposits and government and corporate bonds. The interest earning potential generally varies by the risk you’re willing to take on and how important it is to have quick, easy and reliable access to your funds. Get personal assistance deciding where to put your cash by talking to a financial advisor. Read more

by Mark Henricks Sep 16, 2022

Betterment and Charles Schwab are two of investing’s best-known names and their robo-advisor offerings closely resemble each other. Betterment pioneered automated investing technology when it began… Read more

by Mark Henricks Sep 15, 2022

Investors use automatic trading systems to buy and sell securities without human intervention by following specific trading strategies using algorithms programmed into computer software. Automatic… Read more

by Mark Henricks Sep 15, 2022

A sole proprietor or self-employed person can receive some of the dependent-care benefits available to employees through cafeteria plans by setting up a Dependent Care Assistance Program. These are… Read more

by Mark Henricks Sep 15, 2022

With a limited purpose flexible spending account (LPFSA) you can pay for dental and vision care expenses using pretax dollars. LPFSAs are usually paired with health savings accounts (HSAs), which… Read more

by Mark Henricks Sep 14, 2022

Dividends paid to investors by corporations come in two kinds – ordinary and qualified – and the difference has a large effect on the taxes that will be owed. Ordinary dividends are taxed as ordinary… Read more

by Mark Henricks Sep 12, 2022

Disinflation occurs when the rate of inflation decelerates. During disinflation, wages and prices continue to increase, but the speed of the increase is slower than it was previously. Disinflation is… Read more

by Mark Henricks Sep 12, 2022

Usury laws protect borrowers in many states and some borrowers nationwide from being charged excessively high interest rates. However, state standards for excessive interest vary widely, and federal… Read more

by Mark Henricks Sep 07, 2022

A patronage dividend is a refund that a co-operative distributes to its members as a share of the co-op’s profits. Unlike a regular stock dividend, a patronage dividend is not a return on investment.… Read more

by Mark Henricks Sep 01, 2022

A Taxpayer Identification Number (TIN) is a unique nine-digit number the Internal Revenue Service uses to identify individual taxpayers. A TIN can come in different varieties, including Social… Read more

by Mark Henricks Sep 01, 2022

Force-placed insurance is a policy that a lender places on a home or other property securing a loan in order to protect the lender’s interests. The lender selects the policy and coverage details but… Read more

by Mark Henricks Sep 01, 2022

E*Trade, Robinhood and Webull are similar online trading platforms with specific strengths and weaknesses. E*Trade is a good fit for experienced active traders who appreciate robust support.… Read more

by Mark Henricks Aug 30, 2022

Reinvestment rate risk is the chance that an investment will produce lower than expected income due to a future drop in interest rates. This risk is most closely associated with fixed-income… Read more

by Mark Henricks Aug 30, 2022

Buying shares of real estate investment trusts (REITs) gives investors a convenient way to invest in land and buildings while receiving income and capital appreciation. REITs own and finance real… Read more

by Mark Henricks Aug 30, 2022

Retirement savers who convert pre-tax retirement accounts such as IRAs to after-tax Roth IRAs after reaching age 60 can keep growing funds tax-free and then make withdrawals in retirement without… Read more

by Mark Henricks Aug 23, 2022

A financial institution is an entity that engages significantly in finance-related activities. These activities include such easily recognized examples as taking deposits and making loans as well as… Read more

by Mark Henricks Aug 23, 2022

Most people use a bank as the main provider of financial services. Selecting the right bank can have a lot to do with how satisfied you are with the way your money is managed and, ultimately, with… Read more

by Mark Henricks Aug 31, 2022

Planning for the financial future helps people in many ways, including improving their ability to set goals, budget, save, borrow wisely, invest, manage risk and taxes, plan their estates and more.… Read more

by Mark Henricks Aug 18, 2022

Savings accounts are safe, easy to open and highly liquid, making them solid choices for emergency savings or accumulating funds for future purchases. However, they pay such low rates of interest… Read more

by Mark Henricks Aug 16, 2022

Savings accounts are safe places to store cash you may need on short notice. You can open one at nearly any bank or credit union, often entirely online and with only a small or even no initial… Read more

by Mark Henricks Aug 16, 2022

If you keep money in a regular savings account you will generally owe federal income taxes on the interest that is earned. You’ll pay taxes at your regular rate the year interest is earned, whether… Read more

by Mark Henricks Aug 25, 2022

You are required to report and pay federal taxes on any interest income you receive from a savings account. The income is taxed as unearned, which means you’ll escape payroll taxes, but you will owe… Read more

by Mark Henricks Aug 11, 2022

Beating the market by getting a better return on your investments than the overall market is difficult. However, some investors and investment companies make it their business to beat the market over… Read more