Often students require the aid of loan for getting ahead with their studies. This is good in terms of continuation and furtherance of studies but this also leaves a student with a great burden when its time to leave college. At times, these can also be in form of multiple loans from various lenders.
Loan consolidation can be a great help in such a case. It implies converting your entire loan into a single loan and then asking for an interest rate rebate or a better monthly Mortgage structure. Paying 2000 USD each to 5 different lenders is worse than paying roughly 9900 USD to a single lender. It will keep you away from multiple worries and also help you with a lesser cumulative payment.
Often such consolidated student loans provide pliable plans of repayment and offer no prepayment penalties. Maximum value that such consolidated interest rates can assume is 8.25 percent.
You never get to avoid taxes completely. Yes, at best you can pay them on a later day. We are talking about the tax deferred or the tax postponed schemes. For instance, IRA and 401K is a scheme that asks retirees to put in their money without the fear of taxes. Taxes are levied at the time of withdrawal.
People feel that they have been given a great deal. What they do not understand is that between the time of depositing and withdrawing money, the tax calculation formula may get denser. Higher economic crisis can subject you to a greater tax cut. This might also affect your tax bracket.
Taxing the seed is any day better than taxing the harvest. What do you think? This makes tax advantaged plans better than tax-deferred plans. With the tax-advantaged plans you already know what you have lost by the time you are ready to enjoy the harvest fully.
Be guarded when everyone around you is euphoric and be speculative when everyone is cautious. This is something along the lines Warren Buffet said while putting in billions in a bearish stock market.
These are times of economic meltdown but you can still make an attempt to put your money safely. Hell has broken loose but you can keep making small profits without the risk of capital erosion. It can be usage of treasury bills or CD’s or fixed deposits or hedged real estate funds. Choices are aplenty.
High-dividend stocks are perceived by many to be less volatile. It is because such stocks are better placed to cut through the tide of bearish market. Also, such dividends are not taxable and offer returns that are largely tax-free. (Even if there might be a hidden tax levied somewhere). You can also go for ISA or individual savings account.