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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 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. Instead, it represents a rebate on the member’s purchases from the co-op during the previous fiscal year. Cooperatives may be able to deduct patronage dividends from their income to reduce their taxes, and a member of a cooperative normally does not owe income taxes on patronage dividends. To learn more about patronage dividends and other types of dividends or how each could impact your finances, contact a financial advisor. 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 Security Number (SSN), Employer Identification Number (EIN), Individual Taxpayer Identification Number (ITIN) and Preparer Taxpayer Identification Number (PTIN). TINs are required any time taxpayers file tax returns and may also serve other purposes, including identifying people applying for jobs, loans and credit. Filing, paying and managing taxes is a key part of a solid financial plan. For help with your taxes or any other financial considerations, consider working with a financial advisor. 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 the borrower has to pay the premium. Force-placed insurance generally costs much more than a policy obtained on the open market, and may not protect the borrower as well or at all. If a borrower does not pay the force-placed insurance premium, the lender may be able to foreclose on the property. A financial advisor can help you devise a risk management plan, including insurance to protect your assets. 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

by Mark Henricks Aug 11, 2022

Financial advisors and financial consultants are broadly interchangeable job titles for financial professionals who help individuals and organizations manage money. Someone carrying either title may… Read more

by Mark Henricks Aug 11, 2022

Self-investing is the act of making your own investment choices instead of hiring a professional, such as a financial advisor. This can help you save on professional fees but it could cost you.… Read more

by Mark Henricks Aug 04, 2022

States vary widely in the way they tax retirement income so location is an important consideration in financially planning for retirement. Some states don’t levy income states on any sort of… Read more

by Mark Henricks Aug 04, 2022

The investing field has its own language that includes hundreds of specialized terms. Additional ones are being invented all the time to describe product innovations and new concepts. The study of… Read more

by Mark Henricks Aug 04, 2022

Choosing to live in a recreational vehicle full-time in retirement can shrink costs and boost life satisfaction after a working career ends. Full-time RVing comes with challenges, including finding… Read more

by Mark Henricks Aug 04, 2022

Risk-on and risk-off are descriptive terms referring to changes in the attitude and approach investors take toward risk during different economic scenarios. When investors are risk-on, they tend to… Read more

by Mark Henricks Jul 27, 2022

The nominal interest rate is the simple interest charged on a loan or paid on a deposit. Real interest is nominal interest after taking inflation’s effects into account. Economists, as well as… Read more

by Mark Henricks Jul 27, 2022

The nominal interest rate may be cited in a financial institution advertisement for a loan or deposit. But nominal interest rates provide only rough estimates of how much it costs to borrow money or… Read more

by Mark Henricks Jul 27, 2022

A dependent care flexible spending arrangement (DCFSA) lets you pay for child care and other dependent expenses with pretax dollars. This can reduce the income taxes you owe. Only someone whose… Read more

by Mark Henricks Jul 21, 2022

U.S. savings bonds are ultra-safe offer tax advantages, especially when used for eligible education costs. However, other investments such as stocks and mutual funds typically produce higher rates of… Read more