Tehachapi's Online Community News & Entertainment Guide
Tehachapi's Online Community News & Entertainment Guide
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If you own a small business or are self-employed, you've always got plenty to do, but you can't forget about the days when you'll be less busy - that is, when you're retired. How can you prepare for that time of your life? One key step is establishing a retirement plan for your business or yourself. And thanks to the 2022 SECURE 2.0 Act, you can now receive tax credits for opening and administering a 401(k), SEP-IRA or SIMPLE IRA. These aren't the only plans available for small businesses or...
In December 2022, Congress passed the SECURE 2.0 Act. It introduced two new rules relating to 529 plans and student debt that will take effect in 2024. The first provision allows for tax- and penalty-free rollovers from a 529 plan to a Roth IRA. The second provision allows student loan payments made by employees to qualify for employer retirement matching contributions. 529 plan to Roth IRA rollover 529 plans are tax-advantaged savings accounts specifically geared to saving for college. In an...
For the second consecutive year, through California's Universal Meal Program, all students will be served breakfast and lunch at no charge during their school day, KCSOS and Kern's 46 public school districts announced. Free and reduced-price meal applications, or other applications to determine student eligibility, may still be sent to households by local school districts for the purposes of other local school funding and program eligibility determinations. The eligibility determination from...
If you own a business, you've always got a lot on your mind. But no matter how busy you are today, you need to think about tomorrow. Specifically, you'll want to create an exit strategy for the day you want to move on from your business to a new phase in your life. To develop this strategy, you'll need to address these key questions: • How much do you need (or want) for your business? Ideally, you'll want the sale of your business to meet your retirement and estate-planning goals. So, you'll n...
The cost is the worst part of a probate. When property passes through full probate, the estate will incur attorney's fees, court costs and potentially other expenses, all of which can be quite substantial depending on the size and nature of your estate. Attorney fees are generally set by state law and are usually based on the market value of the assets in the estate being probated, exclusive of any debts or loans associated with the asset. If you own real estate in California or your estate...
As your electric bill continues to grow, we can get you a new roof and solar panels for the same monthly price, with back up batteries! That’s right, no more high electric bills, no more peak hours and a new roof that will last 30-50 years, plus solar panels with back up batteries that you own. Zero down and financing as low as 3.99%. Go to www.getsolartoday.energy for your free custom report. Scroll down to click on the three easy steps that will explain the process and how easy it is to save money. Call owner Darren Sauro with Get Solar T...
If 2023 has been financially challenging, why not take a moment to reflect on the progress you've made and the setbacks you've faced? Getting into the habit of reviewing your finances midyear may help you keep your financial plan on track while there's still plenty of time left in the year to make adjustments Goal overhaul Rising prices put a dent in your budget. You put off a major purchase you had planned for, such as a home or new vehicle, hoping that inventory would increase and interest...
In a fundamental sense, estate planning is about control. With an appropriate estate plan in place, you, not the courts (or anyone else you would not choose), decide who will have control of the distribution of your assets and make financial decisions on your behalf in the event of your death or disability. You can also arrange who will make decisions about your medical care and end-of-life issues, or about who will have legal custody of your minor or disabled children. Properly structured, an...
When you're retired, you'll likely have some financial concerns - just like all retirees. However, if you've invested regularly and followed a long-term financial strategy, you should be able to address most issues that come your way. But there's one important action that's sometimes overlooked by retirees: sharing their financial situation with their grown children. And this knowledge can benefit everyone in your family. You might be surprised by the concern your children have for your...
How long will you live? Of course, your longevity is somewhat unpredictable. But it may be a good idea to plan for a long life - and the financial issues that go along with it. It's reasonable to think you've got a long way to go. In fact, 72% of retirees now think they will live longer than their parents, according to a recent survey from Age Wave and Edward Jones. Their optimism may be justified: A 65-year-old woman can expect to live almost 20 more years, while a 65-year-old man can...
It's hard to believe we are in the middle of summer! Now is the perfect time to get your estate planning in order. Don't let another year go by without a plan. What is better, a will or a trust? A trust will streamline the process of transferring an estate after you die while avoiding a lengthy and potentially costly period of probate (in California if you have assets like a house, and it is worth more than $185,000, there will be a probate in most circumstances). However, if you have minor...
As your electric bill continues to grow, we can get you a new roof and solar panels for the same monthly price, with back up batteries! That’s right, no more high electric bills, no more peak hours and a new 30-50 year roof plus solar panels with back up batteries that you own. Zero down and financing as low as 3.99%. Scan the QR code in our ad on this page to get your custom report, or go to www.getsolartoday.energy and scroll down to click on the three easy steps that will explain the process and how easy it is to save money. Call owner D...
To be successful in most endeavors, it's important to develop good habits - and that's certainly the case for investors. And the earlier one develops these habits, the better. So, if you have teenagers who may be starting to work at part-time jobs, now may be a great time to introduce them to investing - and one place to begin might be a Roth IRA. As you may know, a Roth IRA is a popular retirement savings vehicle - its earnings can grow federally tax-free, provided withdrawals aren't taken...
Municipal bonds are issued by public entities such as state and local governments, health systems, universities, and school districts to help finance the building and maintenance of infrastructure projects such as roads, airports, water systems, and facilities. Despite the higher borrowing costs that resulted from the Federal Reserve's inflation-fighting interest-rate hikes, municipalities issued $308 billion in debt in 2022 to fund capital projects, after selling more than $321 billion in...
In a fundamental sense, estate planning is about control. With an appropriate estate plan in place, you, not the courts (or anyone else you would not choose), decides who will have control of the distribution of your assets and make financial decisions on your behalf in the event of your death or disability. You can also arrange who will make decisions about your medical care and end-of-life issues, or about who will have legal custody of your minor or disabled children. Properly structured, an...
When you're retired, you'll likely have some financial concerns - just like all retirees. However, if you've invested regularly and followed a long-term financial strategy, you should be able to address most issues that come your way. But there's one important action that's sometimes overlooked by retirees: sharing their financial situation with their grown children. And this knowledge can benefit everyone in your family. You might be surprised by the concern your children have for your...
It's common for buyers to refer to the cash needed to close on a home as "closing costs" or think it is limited to just the down payment amount. The cash needed to close is actually made up of three different categories of expenses. Closing costs, prepaid costs and down payment. In general, closing costs can range from 2% to 5% of the total loan amount. According to analyzed data from the Home Mortgage Disclosure Act (HMDA), comparing the top 10 mortgage lenders in the U.S., using a Mortgage...
Mutual funds offer investors a chance to own shares in dozens of companies, as well as bonds, government securities and other investments. But you might be able to broaden your portfolio further by owning another type of fund - an exchange-traded fund (ETF). An ETF, like a mutual fund, can own an array of investments, including stocks, bonds and other securities. Many ETFs are passively managed in that they track the performance of a specific index, such as the S&P 500. In this respect, they...
The U.S. stock market struggled in 2022, with the S&P 500 index ending the year down more 19.4%.1 The S&P 500, which includes stocks of large U.S. companies, is generally considered representative of the U.S. stock market as a whole, and it is a good benchmark for broad market performance. But there are thousands of smaller companies, and many of those held onto their stock value better during the market conditions of 2022. The S&P MidCap 400, which includes midsize companies, ended the year...
With more than 60% of first mortgages at a rate less than 4%, and more than 80% with rates of less than 5%, it seems like no one would refinance at today's rates in order to gain access to their homes equity, right? The decision to access your home equity is as unique to your situation as your fingerprint, as well as whether to do that with a second loan, or refinance to a potentially higher interest rate. Home equity refers to the portion of a home's value that is owned by the homeowner. It is...
If you save and invest for decades, you'd like to know you can retire without financial worries. Nonetheless, you still have to be aware of some threats to a comfortable retirement - and how to respond to them. These threats include: • Inflation – Inflation has been high recently, but even a mild inflation rate can seriously erode your purchasing power. In fact, with just a 3% inflation rate, your expenses could double in about 25 years - and your retirement could easily last that long. So, if...
As your electric bill continues to grow, we can get you a new roof and solar panels for the same monthly price, with back up batteries! That’s right - no more high electric bills, no more peak hours and a new 30-50 year roof plus solar panels - with back up batteries that you own. Zero down and financing as low as 3.99%. Scan the QR code on this page to get your custom report, or go to www.getsolartoday.energy and scroll down to click on the three easy steps that will explain the process and how easy it is to save money. Call owner Darren S...
With stock and bond markets both faltering over the past year, it's easy to see why more near-retirees have a newfound appreciation for fixed annuities - insurance contracts that guarantee a specified rate of return. A fixed annuity maintains its value regardless of market conditions, and yields on these products have risen in response to the higher interest-rate environment. When you purchase a fixed annuity, you are shifting the risk for future investment returns to the insurance company....
There has been a lot of talk about a "cashless" society, but it's not here yet. In fact, cash can still be a valuable element of your overall financial picture – if you employ it wisely. But how? Consider these four key uses of cash: • Everyday spending – Of course, you need sufficient cash on hand to pay for your cost of living – mortgage, debt payments, utilities, groceries, etc. You'll likely rely on your savings or checking accounts to pay for these needs. • Unexpected expenses and emerg...
Another school year is coming to a close. And if you have young children, they're now a year closer to heading off to college or some other type of post-secondary education or training. So, if you haven't already done so, you may want to start preparing for these costs. And they can be considerable. During the 2022-23 school year, the average estimated annual cost (tuition, fees, room and board, books, supplies, transportation and other personal expenses) was nearly $28,000 for public four-year...
