Private Mortgage Insurance (PMI) helps lenders reduce risk when borrowers put down less than 20%. Types include BPMI (monthly payments), LPMI (built into interest rates), and Lump-Sum PMI (paid upfront). PMI can be removed once equity reaches 20% or by refinancing. Though PMI opens doors to homeownership, it’s a cost to the borrower that only protects the lender. Saving a full 20% down can help avoid PMI and save money long-term.

Technology now makes up about 32% of the S&P 500, highlighting its dominance in the U.S. economy and markets. In 2024, strong demand for AI, semiconductors, and cloud computing fueled growth for firms like NVIDIA and Microsoft. However, this concentration poses risks—tech’s heavy influence can create volatility and distort the index's representation of the broader economy. Investors should review their diversification and risk exposure with an advisor.

For self-employed individuals and small business owners, SEP IRAs and Solo 401(k)s offer powerful, tax-advantaged retirement savings beyond traditional IRAs. SEP IRAs are simpler to set up and ideal for businesses with employees, while Solo 401(k)s allow higher contributions and catch-up options for owners with no employees. Each has unique rules and benefits—consult a Whitaker-Myers advisor to choose the best fit for your retirement goals.

5 Insights for your financial, saving and investing life for 2025.

The Homestead Tax Exemption is a legal benefit available in most states, which reduces property tax reduction on homeowners’ primary...

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A Life-Changing Event Our daughter and her family experienced a horrible life-changing event this past summer. They were making home...

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Basic Insurance In addition to health, home, umbrella, and auto insurance, each family and most individuals should consider a few other types of insurance to protect their assets and overall financial plan. Planning for the unexpected is important, and insurance serves that purpose. It's a safety net that provides relief in times of crisis, ensuring your financial plan stays on track. It's not an investment that grows over time; it's a shield that protects your financial plan

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Life Insurance: Term Life Insurance Specifically As followers of many of Dave Ramsey's principles, we should be familiar with his...

After a historic campaign, Donald Trump has won the 2024 presidential election and Republicans have won control of the Senate. For half the country, this is a cause for celebration, while for the other half, this is a disappointing result that will require time to process. This reflects the divisions in our country on both social and economic matters that we hope will heal in time. The stock market has performed well across both parties It’s clear that political outcomes can

The Efficient Market Hypothesis (EMH) The efficient market hypothesis (EMH) is a theory that suggests that share prices accurately...

How to think about the Presidential Election as it relates to my investment portfolio

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I’ve inherited an IRA… now what do I do? Inherited IRAs can seem overwhelming when the time comes to inherit one. It seems...

In the world of personal finance, effectively managing debt is essential for achieving long-term financial stability. One often...

Moving our intentionality discussion further, think about this - intentionality without purpose is essentially misdirection. As discussed...