January 11th, 2019

Saving for retirement takes careful planning

Posted by at 12:12 pm

Remember the story of the grasshopper and the ant? In times of plenty, the grasshopper played and played, while the ant stashed and stored for the hard winter ahead. When it comes to retirement, you should be thinking like an ant, not a grasshopper. In 2018, long-stagnant wages are finally on the rise, according to the Bureau of Labor Statistics. Earnings are up more than 83 cents an hour year-over-year, the largest such increase since 2009. The human – and grasshopper –  response to extra money in a paycheck is an accompanying increase in personal spending. Instead, experts recommend small sacrifices today to set up a better tomorrow. While everyone has at least some degree of control over income, they have a great deal of control over spending. Top areas of compromise are: Driving older vehicles Taking fewer and less...
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A New Year’s path to homeownership

Posted by at 12:44 pm

The New Year always begins with New Year’s resolutions – with a list nearly always topped by getting fit (i.e. giving up fatty food, alcohol or smoking), getting organized or taking better care of finances. Our Bay Equity Loan Officers are experts in helping customers make a similar list of resolutions. Let us help you make it a happy New Homeowner’s Year, too. Ready to get started? Credit Check:  Good credit is key to getting a mortgage but it takes discipline and planning. First, find out what your score is. Pay bills on time, and work to improve your credit establish it independently by opening up checking/savings accounts and using credit cards carefully. How much? Figure out how much you can spend with a handy mortgage calculator. Don’t forget to consider closing costs, ongoing maintenance and insurance, too. Experts recommend...
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