If you've been financially hit by the coronavirus pandemic, financial advisors share how you can recover some cash to pay your bills.
Banks may also give signature loans to long-standing customers, Fitzgerald said. Some customers with good credit may also be able to secure a bank loan with collateral like a car or other asset, he said.
Refinancing higher-interest-rate debt — and subsequently lowering your expenses — is also a way to free up cash, said Nicholas Hofer, CFP, president of Boston Family Advisors in Boston.People with cash-value life insurance can get a tax-free loan by borrowing against the cash value in their policy. This could be risky, though — loans that get too big may eventually cause a policy to "lapse," causing you to lose your insurance and potentially have a large income-tax liability.
This strategy has many potential downsides — namely, selling investments that are reduced in value, forgoing tax-free investment growth, incurring tax penalties and raiding an account earmarked for retirement. IRA and 401 investors would pay a 10% tax penalty for making a withdrawal if they're not at least 59½ years old. Roth IRA investors can withdraw their account contributions penalty- and income-tax free.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Bumble Users Relying On Video Chats During Coronavirus QuarantineBumble has seen a bump in video chats and longer conversations during the coronavirus pandemic.
続きを読む »
Meghan Markle, Prince Harry share mental health advice during the coronavirus pandemic: 'There doesn’t have to be loneliness'The Duke and Duchess of Sussex posted support resources for those struggling during the coronavirus pandemic.
続きを読む »
Watch Metallica's Fiery, Full 2019 Concert at Ireland's Slane CastleBand is planning on posting new, full concerts every Monday during the coronavirus pandemic
続きを読む »
Joel Embiid Praises Sixers For Paying Staff, Donates $500k To COVID-19 ReliefJoel Embiid is gunning to help those in need 'do a 180' during the coronavirus pandemic
続きを読む »
BOJ braced for deeper economic trouble even after March easing: summaryThe coronavirus pandemic could plunge Japan into prolonged economic gloom, Bank ...
続きを読む »