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The kids are nearly out of school for the year, and summer vacation season is just around the corner. Wherever you decide to go, it likely won’t be cheap. A recent study found Americans spend more than $100 billion on vacation.Read More
What’s Next? Local financial expert Michael Foguth offers advice in wake of Social Security announcementWhat's Next? Local financial expert Michael Foguth offers advice in wake of Social Security announcement By ABC12 News Staff FLINT (WJRT) - (05/11/19) - If Congress doesn't take action, Social Security will run out by 2035. That's a year earlier than initially projected, according to the Social Security Administration. The government agency made that [...] Read More
Michael Foguth featured on U.S. News and World Report and Yahoo Finance about using credit cards to stay on budget
Using one credit card for all your purchases can make it easier to keep track of how your spending compares with your budgeted amounts. This allows big-picture thinkers to make adjustments.Read More
Michael Foguth of the Foguth Financial Group in Brighton MI was featured in a recent article on LendingTree.com. Click here to read the article on LendingTree.com or you can read the article below. How to Apply for a Personal Loan by DAWN PAPANDREA April 2nd, 2019 If you need access to a lump sum […]Read More
Brighton’s Michael Foguth was featured in a recent article on Realtor.com. Click here to read the article on Realtor.com or you can read the article below. How Does Paying Off Your Mortgage Affect Your Credit Score? By Terri Williams | Feb 26, 2019 doockie/iStock A mortgage is probably the largest debt you’ll ever have, and paying it off isRead More
Brighton’s Michael Foguth was featured in a recent article on Barron’s. Click here to read the article on Barron’s, or you can read the article below. How ‘Unretirement’ Affects Your Social Security By Sarah Max March 17, 2019 8:00 a.m. ET Photograph by Christopher Furlong/Getty Images Whether by choice or necessity, a growing numberRead More
Brighton’s Michael Foguth was featured in a recent article on U.S. News and World Report. Click here to read the article on U.S. News and World Report, or you can read the article below. 6 Scams That Target Your Bank Account Learn how to spot and sidestep online lending, check overpayment and other forms […]Read More
Brighton’s Michael Foguth was featured in a recent article on Realtor.com. Click here to read the article on Realtor.com or you can read the article below. How Does Paying Off Your Mortgage Affect Your Credit Score? By Terri Williams | Feb 26, 2019 doockie/iStock A mortgage is probably the largest debt you’ll ever have, and paying it off is a …Read More
Tax season has officially begun. January 28 was the first day taxpayers could start filing returns, both paper and electronic. Once you file, you can sit back, relax and wait for your refund to come in. But what to do with the money once you get it? Here’s what experts suggest.Read More
The content on this page is accurate as of the posting date. Please review our list of best credit cards, or use our CardMatch tool to find cards matched to your needs. Need to transfer your ever-growing credit card debt to a new card that offers 0-percent interest on balance transfers, at least for a limited time? You might consider HSBC. Here’s everything you need to know about transferring a balance to an HSBC credit card, including card options, restrictions, balance transfer fees, chances of approval and even potential pitfalls.Read More
Albert Charles has a long checklist of things running in his favor, as he studies the voluntary buyout on the table from General Motors for thousands of engineers, executives and other white-collar workers.
No kids in college? Check. Two sons, ages 30 and 26, both employed and covered under health care plans? Check. Saved steadily in the 401(k)? Check. No mortgage payments? Check.
And frankly, Charles, 61, has to admit that he wouldn’t miss the horrible bumper-to-bumper traffic and construction headaches on I-696, if he took the buyout and stopped driving roughly 50 miles one way from his home in Livingston County to GM’s Warren Technical Center, too.Read More
General Motors salaried workers heard the news of voluntary buyouts in an email on Halloween morning. And many didn’t wait long to track down what they needed to do.”I was trick or treating with my kids and they’re emailing me saying ‘Hey, what do you think of this?’ ” said Michael Foguth, a financial planner who has GM clients.Foguth, president and founder of Foguth Financial in Brighton, said he was surprised at how quickly the buyout packages were distributed after the announcement.Read More
If you’ve been looking to make the math work on an early retirement, you just might get your wish. Drugmaker Pfizer recently announced a buyout offer for long-time employees, and experts say this could just be the start.This year, 300 positions have been voluntarily eliminated by U.S. employers. While that’s down considerably from the nearly 5,000 buyout offers and early retirements in 2017, the dip might be temporary, says Colleen Madden Blumenfeld, spokeswoman for job placement firm Challenger Gray & Christmas.Read More
Rising interest rates irked President Trump into calling the Fed ‘loco,” but they’re good news for savers. Here’s how to find the best interest rate for your bank accounts.Though 63% of Americans don’t have enough in savings to deal with a $500 emergency, those that do should make sure it’s getting the most return. And as wages climb for some and the stock market hiccoughs, it’s nice to know rising interest rates will work in your favor.Read More
Brighton’s own Michael Foguth was recently featured in Discover’s latest article about rising interest rates.
Click here to read it on Discover.com. Editor Note: Michael Foguth is quoted frequently in major media as a trusted source of financial wisdom. He provides financial advice from his offices in Brighton, Michigan.
A personal loan could help.
Personal loans are unsecured — meaning you don’t have to put up collateral to secure one — but some lenders do offer secured personal loans, too. These versions are backed by some form of collateral, usually your home or car. If you default on your payments, lenders can take possession of your home through the foreclosure process or repossess your car, much like they can do with mortgage loans or auto loans.Read More
Additional Article Excerpt: Consider employment trends and growth demographics when deciding whether an area is a good fit. Most real estate investors start by investing in local property, but what if buildings in the area are overvalued, or if there are good deals in another city or state?
Investing outside your local area takes a different mindset than buying property in your hometown. Here are some tips to help.Read More
A study from Ameriprise shows that 68 percent of retirees haven’t begun to withdraw their money, aside from taking required minimum distributions.
Nearly seven out of 10 retirees are not withdrawing money beyond their required distributions and the reasons might be because they don’t have enough money or they are simply afraid they don’t.Read More
Healthcare costs continue to rise, thanks to costly prescriptions and pricey hospital visits. Fortunately, there are ways to cut costs when it comes to your health—just follow these health insurance tips.Read More
Michael Foguth was quoted in this recent the personal finance article by Forbes. 5 Things To Do On Personal Inventory Days by: Janet Berry-Johnson Excerpt: On a recent episode of the podcast Call Your Girlfriend, Sabrina Hersi Issa, CEO of Be Bold Media and Venture Partner at Jump Canon, shared her method for taking stock … Read MoreRead More
Foguth Financial Group President Michael Foguth contributed to a Time article that spoke to hidden retirement assets. Retirees’ Biggest Asset May Be Hiding in Plain Sight By: Dan Kadlec As Quoted by Time: “Michael Foguth, a planner in Howell, Mich., says the loan balance still grows at a compound rate–interest on interest. “I continue to … Read MoreRead More
USA Today recently published an article about how entrepreneurs aren’t saving enough for retirement. Foguth Financial Group President Michael Foguth contributed his thoughts. Retirement: Why small-business owners don’t save by: Rodney Brooks Excerpt: Baby Boomers are becoming entrepreneurs at an amazing pace. By some accounts they are starting 50% of new businesses. The U.S. Small Business … Read MoreRead More
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