Investing in a luxury supercar like a Lamborghini or a luxury property can be an exciting but intricate financial decision. The value of these cars can appreciate over time, making them potential assets. However, maintenance costs and depreciation should be considered.
Managing Money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times, while orders tend to avoid them. Well, at least my advisor does too.
I don’t think i need a finance advisor. I can manage my own finances and investments. I don’t want to pay someone to tell me what to do with my hard earned cash.
I used to think like you. I thought I knew enough about finance and investing to handle everything myself but then I realize that I was spending too much money and energy on researching, analyzing, and monitoring my finances. I was also overwhelmed by the amount of information and options available. I decided to hire a finance advisor and it was one of the best decisions I ever made. They saved me a lot of time and money, and give me peace of mind.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
This info is very helpful. I did FSA consolidation for undergraduate and graduate loans. About $200000 forgiven for my loan and $250000 for my husband. We still have balance to pay under new SAVE plan. I can finally be qualified to purchase home. I am very grateful to SAVE plan.
Do you have to recertify your income under the SAVE plan every year? I had to do this under the IDR plan. But I thought you did not need to under the SAVE plan. Does anyone know?
in the case of forgiveness and the remaining balance becoming taxable income, is the amount taxed the original loan (borrowed) amount or what has accrued in total after the 25 years? For example, the original loan amount was about $34,000, according the the calculation on the website it state my total estimated amount forgiven would be about $53,000. After 25 years, would the $34,000 be the taxable income or $53,000?
It’s my understanding, that the actual dollar amount that’s forgiven, not the original loan balance, is the amount subject to taxation, depending on what the tax laws are the time of forgiveness. (common is for education not advice)
Thank you for this info. I had a quick question…. The interest rate on my current student loan is 5.125%. If I did the start program would that enter me into a new interest rate that is current to todays interest rates? Like would it go up to 7% or more?
You mentioned all payments made previously are counted towards the new save plan. Is that accurate? We’ve been on a graduated plan and extended payment plan and according to other sources only payments made on other IDR plans, 10 year standard payment plan payments or those other payment plans equal to the standard repayment plan monthly payment. Neither my nor my wife’s payments are close to what the standard would be and we’ve never been on an IDR so does that mean all our payments would not qualify as a qualifying repayment towards the save plan?
I’m kicking myself because I just made over 5k in payments in my loan in last 6 months. I originally took out only 6k in my loan and it ballooned to 8,500 but I made payments and was never late. I wound up paying most of it.
My loan servicer said that it will be forgiven after 25 yrs but I would have to reapply for this every year, so after one year of paying which is now 24 yrs to pay, if I reapply will it go back to 25 yrs?
You don’t reapply every year. You have to file a recertification every year which is how they monitor your income and calculate payments. This is because people may earn a pay increase that means they should be paying more. The opposite is of course true too, but you can file a recertification at any time if you lose income and need a reduction in payments. Just be aware that not filing a recertification may affect forgiveness eligibility at the loan’s maturity date.
What happens if both spouses have student loans and file taxes jointly? Say 100K joint AGI, subtract the 225% of $19,370 which yields a monthly payment at 5% of $235. Do both spouse then have that same payment for a total of $470?
Depending on your balance at some point, you’ll either reach forgiveness, or to your point, you will have to start making payments. Otherwise, your balance will never be reduced, even though interest is not being charged. (Comment is for Education. Not advice)
@@huntingtonbeachanthony4957 basically make it seem like they are giving you something around the time the election is coming so you vote democrat, and then you realize you aren't really getting anything and they get your vote. I fell for this myself. I'm ignoring all this stuff and just paying off the rest of my loan. I'm almost done anyway. If anyone gets any help from this, then god bless them.
Allowing working people to buy food and necessities instead of paying down high interest debt because boomers created a work culture that requires a bachelor's degree to be a coffee barista = scam. There did it for him.
I recently received my inheritance, and I’ve been trying to figure out ways to invest it. Any suggestions?
Investing in a luxury supercar like a Lamborghini or a luxury property can be an exciting but intricate financial decision. The value of these cars can appreciate over time, making them potential assets. However, maintenance costs and depreciation should be considered.
Managing Money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times, while orders tend to avoid them. Well, at least my advisor does too.
I don’t think i need a finance advisor. I can manage my own finances and investments. I don’t want to pay someone to tell me what to do with my hard earned cash.
I used to think like you. I thought I knew enough about finance and investing to handle everything myself but then I realize that I was spending too much money and energy on researching, analyzing, and monitoring my finances. I was also overwhelmed by the amount of information and options available. I decided to hire a finance advisor and it was one of the best decisions I ever made. They saved me a lot of time and money, and give me peace of mind.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
This info is very helpful. I did FSA consolidation for undergraduate and graduate loans. About $200000 forgiven for my loan and $250000 for my husband. We still have balance to pay under new SAVE plan. I can finally be qualified to purchase home. I am very grateful to SAVE plan.
Thank you for giving us this information. Very helpful.
Excellent! Thank you so much for this information.
You have provided so much valuable information. Thabk you man
Total Student Debt is 1.6 TRILLION. Typical Democrat Proposal: day late, dollar short. Nevermind the Genocide, have some crumbs.
Do you have to recertify your income under the SAVE plan every year? I had to do this under the IDR plan. But I thought you did not need to under the SAVE plan. Does anyone know?
Great Information!!!!!
in the case of forgiveness and the remaining balance becoming taxable income, is the amount taxed the original loan (borrowed) amount or what has accrued in total after the 25 years? For example, the original loan amount was about $34,000, according the the calculation on the website it state my total estimated amount forgiven would be about $53,000. After 25 years, would the $34,000 be the taxable income or $53,000?
It’s my understanding, that the actual dollar amount that’s forgiven, not the original loan balance, is the amount subject to taxation, depending on what the tax laws are the time of forgiveness. (common is for education not advice)
Great video! thanks so much!
Thank you
Thank you for this info. I had a quick question…. The interest rate on my current student loan is 5.125%. If I did the start program would that enter me into a new interest rate that is current to todays interest rates? Like would it go up to 7% or more?
You mentioned all payments made previously are counted towards the new save plan. Is that accurate? We’ve been on a graduated plan and extended payment plan and according to other sources only payments made on other IDR plans, 10 year standard payment plan payments or those other payment plans equal to the standard repayment plan monthly payment. Neither my nor my wife’s payments are close to what the standard would be and we’ve never been on an IDR so does that mean all our payments would not qualify as a qualifying repayment towards the save plan?
I never got any reprieve of making payments due to Covid. AES told me I didn’t qualify for this reprieve because of the “type” of loans I have.
Government subsidized interest accumulated under the SAVE program is added to the forgiven amount and reported as income.
I’m kicking myself because I just made over 5k in payments in my loan in last 6 months. I originally took out only 6k in my loan and it ballooned to 8,500 but I made payments and was never late. I wound up paying most of it.
My original balance i borrowed was 16000, after capitalization it was 26,000 will the 10 year forgiveness be for the original amount?
My loan servicer said that it will be forgiven after 25 yrs but I would have to reapply for this every year, so after one year of paying which is now 24 yrs to pay, if I reapply will it go back to 25 yrs?
You don’t reapply every year. You have to file a recertification every year which is how they monitor your income and calculate payments. This is because people may earn a pay increase that means they should be paying more. The opposite is of course true too, but you can file a recertification at any time if you lose income and need a reduction in payments. Just be aware that not filing a recertification may affect forgiveness eligibility at the loan’s maturity date.
What happens if both spouses have student loans and file taxes jointly? Say 100K joint AGI, subtract the 225% of $19,370 which yields a monthly payment at 5% of $235. Do both spouse then have that same payment for a total of $470?
Yes. The same combined income is reported for both SAVE applications individually. (Comment is for education. Not advice)
very very helpful thank you
this seems fishy to me
If your payment is 0, how will this loan ever get paid off?
Depending on your balance at some point, you’ll either reach forgiveness, or to your point, you will have to start making payments. Otherwise, your balance will never be reduced, even though interest is not being charged. (Comment is for Education. Not advice)
I am on ICR and payment is 0 but interest is adding up at 8%. My loan is Parent Plus. So I am going to try and pay off. Any advice?
It's the latest Democrat scam.
Explain in detail.
@@huntingtonbeachanthony4957 basically make it seem like they are giving you something around the time the election is coming so you vote democrat, and then you realize you aren't really getting anything and they get your vote. I fell for this myself. I'm ignoring all this stuff and just paying off the rest of my loan. I'm almost done anyway. If anyone gets any help from this, then god bless them.
Allowing working people to buy food and necessities instead of paying down high interest debt because boomers created a work culture that requires a bachelor's degree to be a coffee barista = scam. There did it for him.
The government will get it's money it may not be until they garnish their social security benefits in retirement. @@huntingtonbeachanthony4957