Mortgage refinancing costs could slash any rate savings

Beware the fees and penalties!

Sometimes it makes sense to refinance a mortgage – and it’s tempting if your rate is higher than prevailing rates – but mostly it doesn’t. It would make sense only if you have a longer-term mortgage at an interest rate considerably higher than what’s on offer at current low rates. It all boils down to the math, and like it or not, you’ll have to do some number-crunching to determine whether refinancing makes sense for you. READ MORE

4-step makeover for the financial frumps and frizzies

Does your financial plan look a lot like Cinderella before she met her fairy godmother. Frumpy, frizzy, washed out, washed up, and dressed in rags. If that about sums it up, you just might need a financial makeover. So while you’re getting set for the glitz and glam of another holiday party season, spare a few moments for poor Cinderella…and give her a makeover too. Here’s how.

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Accessing locked-in retirement funds

Many of my women clients “of a certain age” have rather substantial pension nest-eggs, either through their employer’s pension plans or through their own business or professional practice. But they do share one problem. Their pension funds are tied up in Locked-In Retirement Accounts (LIRAs), and the conversation almost inevitably turns to whether that stash of cash in a LIRA can be accessed and put to better use. Well, there’s good news and bad news here.

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