Assets are everything that you own that can be used for the payment of debt. Assets could include cars, a house, land, bank accounts, stocks and bonds, even items like furniture, clothing, jewelry and collectibles. To calculate net worth, subtract everything you owe from the sum total of your assets. Learn more about your assets and what they mean in different transactions on this page.
Financial Planning Includes Elder Care
As your parents age you may find yourself having to decide how to care for them. Part of choosing the right elder care solution for your family is financial planning including looking at what assets are available to pay for the care and whether the family member is eligible for Medicaid. It's important to realize that hospitals who help care for elder family members may refer you to a hospital-affiliated nursing home as opposed to a solution that may be best for your unique situation.
Rolling Home Equity Into Mortgage Loan
Well Fargo is launching a new loan program with the hope that it will be the last loan you ever need. The new loan combines a mortgage and home equity line of credit, as well as other features into a single account that can be used to manage cash flow, gain potential tax advantages, plan for major expenses, and invest for the future. As your home increases in value, and you pay down the loan balance, you could tap into the available equity at any time.
Buying A Home Increases Assets
Buying a home increases assets and builds wealth. The federal government introduces programs from time to time to encourage home ownership, especially for minorities. Learn about the housing market including federal government programs that are aimed to boost home ownership levels.
Save Money And Be Financially Solvent While Searching For A New Job
It's hard enough to save money and be financially solvent when you're working full time. It's even harder to save money and be financially solvent while searching for a new job. Unemployment depletes your savings account quickly and makes being financially solvent a chore. But by cutting back and finding ways to save money like paying bills in smaller amounts, and tapping into your life insurance policy can help keep you financially solvent while searching for a new job.
Personal Finance Advice For Women
In this Money 101 segment on WGN, the topic is women and money. When it comes to personal finances, women need to understand personal finance basics and be proactive in managing their financial lives. Those women who delegate financial management to their partners often are in for a rude awakening when something goes wrong -- a divorce or death of a spouse for example.
Millionaire CFA Study
A new study from the Consumer Federation of America and Providian Financial shows that millionaires tend to be older, have graduate or professional degrees and earn more than $100,000 per year. All that isn't so surprising, but what is interesting is that the average American is doing a pretty good job of building assets, even with incomes as low as $10,000 per year.
Recent Death Reveals Credit Card Debt
What happens to your credit card debt after you die? When you die, and there are no assets in the estate, the debts die with you as long as no one else held those credit cards.
Ways You Can Hold Title To Your Home
How you hold title to, that is, the ownership of, your assets is important. If something goes wrong and one spouse or partner is sued professionally, how you and your spouse or partner own your home can mean the difference between having to sell it to pay off a judgment, and being allowed to live in it. Here are some of the more common ways to hold title to property.