An IRA (Individual Retirement Account) is more than just a convenient way to save for retirement. It can also serve as a backup plan for many life events. What are some of these events you can prepare for with an IRA? Here are five of the most common events you might want to use an IRA for.
1. Buying a House. IRA rules allow investors to withdraw (penalty-free) up to $10,000 to pay for a down payment on a house.
Unlike a mortgage or car loan, a personal loan does not require collateral to procure. A personal loan does, however, require the borrower have excellent credit. If you aren't concerned about your credit score, a personal loan can be very advantageous when you need some quick cash and it could even save you money. Here is a look at three things you could use personal loan services for.
Debt Consolidation
Everyone needs to think about their future, and part of that involves planning out what sort of retirement you are going to have. And financial planning with regards to your retirement is one of the most important issues that you will face in your lifetime. It's not something that is easily caught up on in later years if you happen to have disregarded it during your youth. That's why it's a great idea to set the groundwork for a really comfortable retirement by making the right decisions at the right time.
As a responsible homeowner who has made timely mortgage payments and has a good credit standing, you can qualify for different types of loans that can be borrowed against the equity you have invested in your home. One of the loan types you may qualify for is a HELOC, which stands for a home equity line of credit. If you are in a financial spot where you need some extra funding, whether it is to help pay for college for your child or to pay for some home upgrades, a HELOC loan could be a good option.
Getting a troubling, middle of the night call from a child, sibling, or other loved one who has been arrested for a crime happens all too often. Invariably, the caller needs help with posting bail so that they will not have to remain in custody until their court date.
When the recipient of the call does not have the available funds to cover the bail amount, the idea of using their home or property to guarantee the bail bond may arise.
