April 21, 2016 Page 7 The Financial Solution You’ve Been Looking For Might Be Right Under Your Roof (BPT) - What would you do with a little extra money? Chances are, you thought of something pretty fast - and you probably had more than one idea. Whether you’re looking to improve your home, pay off outstanding debt or take a vacation, a little cash can go a long way and you can find the money without changing jobs or cutting expenses. The answer lies within the walls around you in your own home. The housing bust of 2007-09 was a rough time for many homeowners, but today’s market has shown signs of continued recovery and as it does, homes continue to increase in value. Sixty percent of homeowners report equity in their homes has increased since 2013, and almost half expect their equity will increase even more this year, according to research from loanDepot. And as that equity continues to grow, more and more homeowners are realizing that capitalizing on it can be a valuable tool to support their financial stability. “Homeowners who bought during the housing boom are regaining equity many thought was lost forever, yet too many are not aware of the equity they have gained or they are unclear about how to determine changes in their equity,” says Bryan Sullivan, chief financial officer of loanDepot. “People who bought after the housing boom when prices were low are realizing homeownership can be a great investment and asset leveraged through equity to realize many dreams. Whether they choose to leverage their home equity now or reserve it for future needs, millions of homeowners have choices today not available just a few years ago.” To better understand how homeowners would leverage additional funds from a home equity loan, loanDepot surveyed 1,000 homeowners to get their responses. The most common uses for funds from a home equity loan included: • Remodeling projects. The majority of respondents, 39 percent, said they would reinvest the money acquired by their loan into making further improvements to their home, continuing to support its value. • Consolidating high interest debt. For homeowners with significant debt obligations, a home refinancing loan can offer the opportunity to pay down that debt and replace it with a home loan that features a more favorable interest rate. • Save for retirement. More than 17 percent of those surveyed said they would use the money to bolster their current retirement package or even start a retirement fund. • Pay down student loans. College was a wonderful part of your life, the loans - not so much. Nine percent of respondents said they would use the money to be done with those payments once and for all. • Take a trip. If that dream trip seems to always be just slightly out of your financial reach, a home equity loan can help. Nearly five percent of respondents said they would use the additional money for vacation and travel purposes. Learn more about taking out a home equity loan Everyone could use a little extra money and finding it is easier than you may think, you just have to capitalize on your home’s inherent value. To learn more about obtaining a second mortgage and the flexibility such equity would offer you, visit www.loanDepot. com/homequity today or watch this video. • Finance 3 Tips For Achieving Financial Wellness In Retirement (BPT) - Financial wellness is central to retirement planning. Balancing financial priorities is like eating a balanced meal. When preparing for retirement, it is important to make a commitment to your financial health as you would to your personal health. By looking at one’s finances and establishing healthy habits early on, the more prepared you will be for life after retirement. Sixty-one percent of the general population and half of U.S. Latinos plan to rely more on personal savings than on Social Security income in retirement, according to a recent study conducted by Massachusetts Mutual Life Insurance Company (MassMutual). While Social Security plays a role in retirement planning, there are many other funding options to consider. Taking the rights steps at an early stage is key to achieving financial wellness after retirement. Here are three tips to help secure a healthy financial future: Determine How Much You Will Need. In order to create a solid retirement plan, it’s important to understand your current financial situation and determine how much you will need for retirement. Know your income and expenses, and the value of your savings and investments. Then define your goals for both the present and retirement. Maybe you want to save for traveling abroad or for your children’s college education, while others prefer to have a part-time job or stay involved with the business they built. Make sure you conservatively estimate what you need with all these factors considered Know The Role Of Social Security. Determining how much money you will need after retirement is the first step to knowing the role of Social Security for your overall retirement plan. Just like with healthy eating, planning for retirement is about finding the right balance for you. This means asking yourself, how will Social Security fit into your overall retirement plan? The answer: it should only be one part of your plan. While Social Security is a great supplement to your income, it probably won’t be enough on its own. So be sure to fill your plate with all sorts of healthy options for a well-balanced retirement. To help close the gap between savings and Social Security, consider other sources of income like regular contributions to your company retirement account (being sure to maximize any employer match), external investments and annuities. Plan Ahead For Health Care. A study conducted by MassMutual found that 73 percent of retirees in better health say they feel financially secure compared to 51 percent of retirees in poorer health, and planning for the unexpected can help maintain peace of mind. One of the biggest curveballs in retirement can be related to the cost of health care. Be sure to carefully think through and consider your options for paying for health care in your retirement, which may include but should not be limited to Medicare, Medicaid and various forms of insurance. Maintaining financial wellness after retirement is all about keeping a good balance and knowing the different options that are available for savings and income. The biggest benefit in the end will be peace of mind and enjoying a comfortable retirement that will fulfill your needs and expectations. A financial professional can work with you to create a roadmap towards financial wellness. To learn more, visit massmutual.com. • Seniors PROMOTE YOURSELF K E E P I N G I T L O C A L ! Classified And B & P Pricing All Ads Go In All Our Papers! We take Visa and MasterCard, checks and cash. Always include a phone number with your submission. Payment must be received, before ad is published. CLASSIFIEDS The deadline for classified copy and payment is NOON on Tuesday. We reserve the right to reject, edit, and determine proper classification of classified ads. Email ad copy to: class@heraldpublications.com. 1 Time 2 Times 3 Times 4 Times 3 lines $40 $50 $60 $70 4 lines $45 $55 $65 $75 Need more lines? 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