• Nate Baim, MBA, CFP®

Don't Put This Off


Enjoy this week's edition of the Planner's Beta


Beta (n) - climber's jargon that designates information about a climb This digest's purpose is to share observations, ideas, and treasures found this week which you may also find insightful. Sharing does not mean it's an endorsement. I am endorsing the pursuit of knowledge and exploration.


This past weekend Becky and I explored a new section of trail with a good friend. As we came down the peak we hiked up, the clouds rolled in, providing me the opportunity to capture this foggy photo.


Happy New Year! This Month's Financial Planning Item - Review Your Debts

It is a start to a new year, which often means folks begin the year seeking to improve themselves and their lives. Financial planning is a process that systematically helps individuals create, analyze, implement, and monitor their financial and life goals.


A goal many Americans focus on is improving their financial life. One of the critical economic elements many households have to manage is debt. For this month's financial planning item, I encourage you to look through your current debts and ask yourself, "Am I deploying the best strategy to pay off my debts?"


Many American's have student loan debt and/or a mortgage. Use these two resources below to help organize your thoughts on how to improve your debt management strategies.


If you need independent advice on how to manage your debt, so it aligns with your overall financial aspirations, please review the services I offer and place an introductory appointment on my calendar.


If you are a current Pursuit Planning and Investments client, securely upload any statements needing review to PreciseFP. We can discuss this in our next check-in meeting, or feel free to place an appointment on my calendar for any urgent issues.

Managing Your Home Loan - Should You Refinance Your Mortgage?

When interest rates decline, mortgage refinancing becomes a trendy topic. However, there are several good reasons to consider refinancing. Each person's situation is unique, and you should consider many factors before deciding to refinance.

This flowchart helps guide your thoughts when considering to refinance your mortgage. This flowchart considers:

  • Interest rate trends

  • Current loan rates and terms

  • Available alternatives

  • Motivations for refinancing

  • Cautions against refinancing



Strategies for Student Loan Debt - What Issues to Consider

More than 44 million borrowers in the U.S. hold more than $1.6 trillion in student loan debt. There are many factors to consider when choosing a repayment plan or deciding to refinance or consolidate. Each person's unique circumstances will determine what strategies are available and favorable to them.


This checklist helps when planning around student loans and covers:

  • Relief available to borrowers

  • Repayment considerations

  • Costs and benefits of refinancing

  • Eligibility for loan forgiveness



Quote of the Week

"For reasons I have never understood, people like to hear the world is going to hell." - Dierdre McCloskey

 

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