Paul Tollefson

165 Flips | 1 Magazine | 3 Likes | 145 Followers | @PaulTollefson | Premier Mortgage Resources | 16368 Northwoods Blvd. | Truckee, CA 96161 | 530.536.0525 | paul.tollefson@pmrmtg.com | CA DBO/NMLS 1216415 CO NMLS 1169 | Equal Housing Lender

If you don’t want to run out of money in retirement, follow this rule of thumb

I’ve been hearing from a lot of retirees who’ve done what they were supposed to do, what they could afford to do. They saved for their retirement years.<p>But now that they are retired, they aren’t sure how to spend down their savings without going broke before they die.<p>While no one rule of thumb fits …

Retirement

This Is Americans' No. 1 Financial Concern for 2018

Hint: It's not about savings.<p>When it comes to all things financial, Americans certainly have plenty to worry about. Debt levels are climbing. Savings …

Your 3-Point Guide to Paying Off Debt

Want to shake that debt for good? Here's how.<p>If there's one thing Americans are unquestionably familiar with, it's debt. Consumer credit card debt is …

Liz Weston: Take your credit score from good to great

Making more frequent payments on your credit cards -- to reduce the amount of available credit you're using -- is one way to bump up your FICO score.

3 ways debt settlement may not be the fix you expect

Paying less than you owe to creditors sounds like a good deal. But debt settlement isn't what it seems.<p>If you’re considering working with a debt settlement company — which negotiates with your creditors to accept less than what you owe — look beyond the marketing pitches. These programs have …

Personal Finance

3 Things You Can Do This Year to Increase Your Social Security Benefits

Want more money out of Social Security? Here's how to get it.<p>Social Security serves as a critical source of income for millions of retirees, but the …

3 Reasons Not to Max Out Your 401(k) This Year

That's right -- sometimes it pays to keep some of your money away from your 401(k).<p>We're told that it pays to max out our retirement plan …

Can I Pay My Taxes With a Credit Card?

Though roughly 80% of U.S. taxpayers wind up getting a refund each year, you may come to find that you're among the unlucky few who end up <i>owing</i> money to the IRS. But what happens if you don't have the cash available to pay your bill by the tax filing deadline?<p>It's a likely scenario. Nearly 40% of …

Get your credit score ready for the home-buying process

<b>Dear Liz:</b> What score do you need to be approved for a mortgage? Is 520 even close? If not, how do I get that score higher quickly?<p><b>Answer:</b> A score of 520 on the usual 300-to-850 FICO scale is pretty bad. Theoretically, you might be able to get a mortgage if you can make a large down payment, but …

Trick Your Brain Into Making You Richer

Our brains are often working against us, leading us to make dumb financial moves -- or to not do anything at all. Here's how to fight back.<p>We all …

4 Personal Finance Rules You Should Know by Heart

These are four of the most important things you can do to live a financially healthy life.<p>There are tons of personal finance tips, tricks, and rules …

30 Things to Do Before Buying a House

Source: Getty Images<p>1 of 31<p>Do the work<p>Very few people will ever make a purchase bigger than a house. In fact, most people will only buy a home a few …

3-Plus Reasons to Be Happy About Rising Interest Rates

Interest rates have been near historic lows for many years now, and it seems that the tide is finally starting to turn, with rates inching up. That has some people quite concerned, especially if they were aiming to buy a home in the near future. But rising interest rates are not all bad.<p>Many people …

Don't worry: HELOCs will survive despite new tax law

It's a big and confusing question for many homeowners in the wake of the December tax law changes: Are new interest-deductible home equity credit …

How to Buy a House: The 10 Steps You'll Take Before Closing

The process is slow and cautious for a reason!<p>You’ve finally found the perfect house—the one with "great bones" on a corner lot—and it feels yours already: You can see holidays in that kitchen, plus it has a perfect little office off to the side where you can hide from relatives when you need a …

This Monopoly Is Holding Back the Mortgage Market

Credit scores aren't working the way they should.<p>If you apply for a mortgage in the U.S., chances are your credit score will be generated by an algorithm better suited to the economy of the 1990s -- part of an ossified system that could be denying millions of otherwise qualified Americans the …

How credit card rewards can make your dreams come true

<i>The credit card rewards that Doug and Debbie Todd earned while building their home helped finance a cruise in the Bahamas and a trip to Cabo San Lucas, Mexico. Photo courtesy of Debbie Todd.</i><p>When Debbie and Doug Todd decided to build their dream home in southwest Washington state, they hired …

Ask an expert: ‘Can I claim tax deductions on my rental income?’

With the tax return deadline just two weeks away, the Which? Money experts are answering your self-assessment queries. You can submit your questions …

Have you heard of the 4% rule? Most Americans haven't

We all know we're supposed to save a decent chunk of money for retirement so we have the ability to live comfortably once we stop working. But how much savings is enough?<p>One good way to know is to see how your balance looks and figure out how much yearly income it can give you under what's known as …

Retirement

How to Pick Stock Investments

Some people talk about investing as if it’s a no-brainer or a click-a-button decision. That’s a too-simplistic view for most people, especially when …

What Is Passive Income?

Call it easy money or income for lazy people. Either way, passive income is something that countless Americans get to enjoy every day.<p>Imagine if you …

Why you should switch to LED lightbulbs right now, before the law requires it

When Jason Chroman relocated from San Francisco to the suburbs, he and his family moved into a bigger, newer house. It was all very exciting until their first electric bill arrived. "The house was maybe 30 percent bigger, but the electric bill was something like 200 percent more," Chroman said. So …

Energy Star

Warren Buffett Says This 1 Simple Habit Separates Successful People From Everyone Else

The 87-year-old chairman and CEO of Berkshire Hathaway once gave us a breakthrough principle of taking charge of one's life. Let's revisit it.<p>Billionaire Warren Buffett, the chairman and CEO of Berkshire Hathaway, is 87 years old and still capturing the world's attention as the second richest …

Self-improvement

The Great College Loan Swindle

On a wind-swept, frigid night in February 2009, a 37-year-old schoolteacher named Scott Nailor parked his rusted ’92 Toyota Tercel in the parking lot …

College & University

10 things to watch out for the first time you view a home

Spot the good, bad, and expensive before making an offer<p>The first walkthrough of a home is when potential owners get that gut feeling and come with their buying wishlist in tow.<p>And while you’ll know if a potential home meets your basic requirements—from the number of bedrooms to the availability of …

5 Things to Know if You're Trying to Get a Mortgage With Bad Credit in 2017

Believe it or not, your credit doesn’t have to be stellar to get a mortgage. Many banks and lenders will extend a mortgage to applicants with at least a 640 credit score. However, not all lenders are created equal — and, even if you can score a home loan, bad credit is going to seriously cost you …

Should You Retire On Your House?

Many American households will face a significant retirement financing gap unless they save more, invest more efficiently, retire later, and/or distribute their retirement assets more efficiently. Yet the pain of such difficult behavioral changes might be mitigated by better use of an asset that …

Retirement

Journal To Enhance Lifetime Retirement Security, Use Reverse Mortgages or Immediate Annuities?

<i>Mark J. Warshawsky, Ph.D., is a visiting senior fellow at the MIT Golub Center for Finance and Policy, president of ReLIAS (Retirement Lifetime</i> …

The Psychology of Buying and Selling a House

How our emotions influence the homes we choose and the prices we pay<p>It’s a fact of life: Homes come with far more emotional weight than any other investment we make.<p>A home is a refuge from the world, a place to raise a family and, for some people, an investment they hope will bring them a good …

Selling