Why Waiting to Refinance Could Cost You Big

Lendingtree
By Casey Hines
Published: November 26, 2018

If your credit score has jumped since you took out your mortgage, you may want to see if you can qualify for a better interest rate. “I think that if you were in the 600s and you get your credit score up above 750, it’s probably worth taking a look at if the math is there,” Sestok said. Even if you’re not in a position to take out a shorter-term mortgage, a lower interest rate could boost your monthly cash flow through lower payments.

Sestok noted that you don’t need to complete a formal application to find out whether you’re likely to qualify for a better rate. A mortgage specialist will be able to evaluate your prospects before you commit to a refinancing application, so you won’t waste time if there hasn’t been enough improvement to impact your borrowing abilities.

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Third parties mentioned in this article are not affiliated with Rightirement Wealth Partners or LPL Financial. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Please consult your financial advisor for additional information concerning your specific situation.

Why Everyone Needs an Estate Plan

Kiplinger
By Miriam Cross
Published: August 30,2018

I’m unmarried and childless, so I didn’t see the point in having a will until last year, when my mom planted the idea. Even now—like many of my peers—I am procrastinating. According to a recent survey from Caring.com, 78% of millennials don’t have a will. “People don’t want to talk about death,” says Byrke Sestok, a certified financial planner with Rightirement Wealth Partners in White Plains, N.Y. But if you die without a will, he says, the consequences for your loved ones can be disastrous.

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Third parties referenced in this article are not affiliated with Rightirement Wealth Partners or LPL Financial.

The Downsides of Retirement That Nobody Talks About

GOBankingRates
Featured: Nasdaq.com
By Cameron Huddleston
Published: October 20, 2017

Here are 14 downsides of retiring that no one talks about, along with solutions to avoid each potential problem. If you haven’t properly prepared for leaving the working world and living without a paycheck, you’ll have to face the ugly truths about retirement.

If you don’t plan what you will do with your extra time in retirement, you could become depressed and may end up spending more than you planned in an attempt to fill your time, said Byrke Sestok, president of Rightirement Wealth Partners in White Plains, N.Y.

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The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Third party individuals and entities mentioned in the article are not affiliated with IFP, Rightirement Wealth Partners or LPL Financial.

Four ways to change 401(k) plans for the better

MarketWatch
By Alessandra Malito
Published: November 1, 2017

401(k) plans have the spotlight under the proposed tax plans, but not for the right reasons.

The “Rothification” of a 401(k) plan isn’t necessarily a bad thing, but instead of making it either or, policy makers should consider offering both traditional and Roth plans to employees, said Byrke Sestok, a financial adviser at Rightirement Wealth Partners in White Plains, N.Y. “If you are financially knowledgeable, you’ll appreciate having the choice between traditional and Roth 401(k) or 403(b) contributions, and you’re also more likely to make the retirement savings contribution you need,” he said.

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The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Third party individuals and entities mentioned in the article are not affiliated with IFP, Rightirement Wealth Partners or LPL Financial.

Yes, you can save $1 million for retirement with a $50,000 salary—here’s how

GOBankingRates
Featured: CNBC.COM
By Cameron Huddleston
Published: October 11, 2017

To increase your chances of having $1 million in retirement, you need to invest your savings in assets that will grow.

“No one gets rich by saving in the bank,” said Byrke Sestok, a certified financial planner and president of Rightirement Wealth Partners in White Plains, N.Y. “If you have 30 years before retirement and 30 years during retirement, then you have the time to participate heavily or totally in the stock market, and ignore the big drops and focus on the fact that stocks have historically proved to be a better-performing asset class over bonds and cash.”

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The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.

Investing in stocks and mutual funds involves risk, including possible loss of principal.

Bonds are subject to market and interest rate risk if sold prior to maturity. Bond values will decline as interest rates rise and bonds are subject to availability and change in price.

No investment strategy assures success or protects against loss.

The target date is the approximate date when investors plan to start withdrawing their money. The principal value of a target fund is not guaranteed at any time, including at the target date.

The Roth IRA offers tax deferral on any earnings in the account. Withdrawals from the account may be tax free, as long as they are considered qualified. Limitations and restrictions may apply. Withdrawals prior to age 59 ½ or prior to the account being opened for 5 years, whichever is later, may result in a 10% IRS penalty tax. Future tax laws can change at any time and may impact the benefits of Roth IRAs. Their tax treatment may change.

None of the third party individuals or entities are affiliated with Rightirement Wealth Partners or LPL Financial.

Should You Add a Loan to Your Shopping Cart?

Nerdwallet
By Amrita Jayakumar
Published: October 16,2017

 

“Will that be cash, credit card or personal loan?”

The next time you shop online, you may be offered a new way to pay — a personal loan with fixed monthly payments. Instead of using cash or plastic at checkout, you would provide some personal information and get a loan in minutes.

Got your eye on a new living room set at Wayfair? Or maybe you’re booking your honeymoon on Expedia. Increasingly, shoppers at these sites and others are encountering payment options from third-party lending companies like Affirm, Bread, Klarna and Acima Credit.

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People in this age group don’t mind marrying someone with debt

Marketwatch
By Alessandra Malito
Published: Aug 17, 2017

People in this age group don’t mind marrying someone with debt

With student debt so high, it’s likely at least one partner will be carrying extra baggage.

Millennials appear to be more willing than other generations to take a spouse for better or for worse, in sickness or in debt.

Older generations are more likely to refuse to marry someone with a lot of debt: 70% of people 65 and older said they would say no, compared with 45% of people 18- to 24-years-old, according to a study from legal-services site Avvo, which surveyed more than 2,300 U.S. adults. A person’s willingness to wed someone saddled with debt corresponded roughly with their age, with older people showing more reluctance.

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Americans Are Living Their Worst Financial Nightmares, Survey Finds

Go Banking Rates
By Cameron Huddleston
Published: July 26, 201

Living paycheck to paycheck is one of Americans’ money fears — but it’s not their biggest one.

When it comes to your finances, what worries you most? Is it having enough money in your checking account to pay the bills each month? Are you afraid you’ll never get out of debt? Or, maybe you’re scared the stock market will tank and you’ll lose all of your money.

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