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The Benefits of Estate Planning

The Benefits of Estate Planning

Whether you’re starting a family or celebrating your first grandchild, it’s important to plan ahead. While you may not be thinking about it just yet, wouldn’t you want to know that those loved ones would be taken care of if you weren’t around? That’s where building an estate plan can help. This month’s eReport explains a few reasons why setting up a will or estate plan now is so beneficial, even if you’re just starting your family journey. You’ll also learn what to double check in your will to make sure your wishes are carried out exactly how you want. Preparing for the future now will grant you more peace of mind down the line!

By the way… if there is any way we can be of service to you or your family, please call us. We’re happy to help you however we can.

Mario and Angelina Perales

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The Basics of Credit Card Security

The Basics of Credit Card Security

Finding out that your credit card was compromised is like finding out that someone broke into your house — your privacy was violated, and you just can’t understand how that could have happened. What’s even more frustrating is the impact this incident could have on your credit score if not handled right away. To help you prevent bad actors from gaining access to your credit or debit accounts, We wanted to share some helpful tips on credit card security. Learn how accounts get compromised and ways to protect your personal information, so you can always remain one step ahead of credit thieves.

By the way… if there is any way we can be of service to you or your family, please call us. We’re happy to help you however we can.

Mario and Angelina Perales

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Smart Ways to Reduce and Avoid Debt

Smart Ways to Reduce and Avoid Debt

Between the mortgage, student loans and credit cards, paying off debt can feel impossible — but with these tips, it doesn’t have to be! The information below offers popular methods for paying off debt, plus some ways to avoid getting into debt at all. You got this!

By the way… if there is any way we can be of service to you or your family, please call us. We’re happy to help you however we can.

Mario and Angelina Perales

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Make the most of your taxes

Make the Most of Your Taxes

By taking advantage of all of the tax deductions, credits and strategies that apply in your situation, it’s possible to reduce your tax bill and even receive a refund. You just have to know what’s available to you! The information below shares a few tips you can make to ultimately owe less come Tax Day on April 15. For more ways to save on taxes, give me a call — I’ll refer you to a trusted tax professional who can help!

By the way… if there is any way we can be of service to you or your family, please call us. We’re happy to help you however we can.

Mario and Angelina Perales

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Latest Unemployment Report

The Latest Unemployment Report: Slow and Steady Improvement

The Latest Unemployment Report: Slow and Steady Improvement | MyKCM

Last Friday, the Bureau of Labor Statistics (BLS) released its latest Employment Situation Summary. Going into the release, the expert consensus was for 1.58 million jobs to be added in July, and for the unemployment rate to fall to 10.5%.

When the official report came out, it revealed that 1.8 million jobs were added, and the unemployment rate fell to 10.2% (from 11.1% last month). Once again, this is excellent news as this was the third consecutive month the unemployment rate decreased.The Latest Unemployment Report: Slow and Steady Improvement | MyKCMThere is, however, still a long way to go before the job market fully recovers. The Wall Street Journal (WSJ) put a potential date on that recovery:

“July’s payroll growth, at 1.8 million, still leaves total payrolls 12.9 million lower than in February. And yet if job gains continued at July’s pace, that deficit will be erased by March 2021. If payrolls reclaim their last peak in 13 months, that would be remarkably fast. It took more than six years after the last recession.”

Permanent vs. Temporary Unemployment

During a pandemic, it’s important to differentiate those who have lost their jobs on a temporary basis from those who have lost them on a permanent basis. Morgan Stanley economists noted in the same WSJ article:

“The rate of churn in the labor market remains incredibly high, but a notable positive detail in this month’s report was the downtick in the rate of new permanent layoffs.”

To address this, the core unemployment rate becomes increasingly important. It identifies the number of people who have permanently lost their jobs. This measure subtracts temporary layoffs and adds unemployed who did not search for a job recently. Jed Kolko, Chief Economist at Indeed and the founder of the index reported:

“Core unemployment fell in July for the first time in the pandemic. That’s the good news I was hoping for.”

What about the housing market?

The housing market has continued to show tremendous resilience during the pandemic. Commenting on the labor report, Robert Dietz, Chief Economist for the National Association of Home Builders (NAHB), tweeted:

“Housing continues to rebound in another positive labor market report. Home builder and remodeler job gains of 24K for July. Residential construction employment down just 56.4K compared to a year ago. Total residential construction employment at 2.85 million.”

Bottom Line

We should remain cautious in our optimism, as the recovery is ultimately tied to our future success in mitigating the ongoing health crisis. However, as Mike Fratantoni, Chief Economist for the Mortgage Bankers Association, reminds us“The pace of job growth slowed in July, but the gains over the past three months represent an impressive rebound during the ongoing economic challenges brought forth by the pandemic.”

Call or message us if there is anything we can ever do for you.  We would be happy to help.

Mario and Angelina Perales

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Homeowners Delay Mortgage Payments During Pandemic

How are you and your family doing through all the madness? Hopefully you are staying safe and healthy. As for us we are doing well. We are working from home and trying not to go out unless we have to. The kids are doing well, and luckily our oldest daughter Ana is able to work from home as well.

We thought we would share this link that shows how some people may be able to delay their home mortgage for up to a year. Hopefully this can help you or someone you know that is being affected by the Corona Virus outbreak.

https://money.yahoo.com/coronavirus-homeowners-delay-mortgage-payments-202251121.html

Call or message us if there is anything we can ever do for you.  We would be happy to help.

Mario and Angelina Perales

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