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Mutual Fund Terms

When investing in mutual funds, there are many terms to know and understand. However, they are not always common knowledge. To better help you evaluate your investments and understand what your financial planner is telling you, let us discuss some common terms. 1. Equity Funds – These funds invest only in stocks. 2. Fixed Income Funds – These funds invest only in bonds. 3. Growth Funds – These specialize in companies expected to grow quickly, particularly when compared to similar companies in the same industry. 4. Index Funds – The fund managers of these funds try to match the stock … Continue reading →

Paying off your Mortgage Early

Have you ever considered whether you should try and pay off your mortgage early? Many people have. But, a mortgage is different kind of debt than most… so it is good to evaluate all the advantages and disadvantages before you make that leap. The first consideration is other debt. In almost every case, before you ever consider making extra payments on your mortgage you should first focus on all your other debt. In almost every instance, whether it be a credit card, student loan or car, that debt is costing you more to keep in interest than a mortgage. What … Continue reading →

5 Reasons to Payoff Your Loans Early

Many people often wonder why you should payoff your loans early. Often they look at loans as a time commitment and as long as you are making your monthly payments you really do not need to worry about the loans that you have taken out. Paying your loans off early can be a great benefit to you and your family. Here are five reasons to pay off your loans early. 1) You will save money on interest payments. For the average mortgage you end up paying at least as much in interest as you originally borrowed. You end up paying … Continue reading →