FEATURED ARTICLES &
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Death, Taxes...And Annuities?
There are few guarantees in life. One of the biggest client concerns about retirement is outliving their money.
The Salary Needed To Live In The Top 15 Most-Sought After Cities In The U.S.
A 2020 study found that four in 10 people want to buy a home simply to have more space in their new remote reality.
8 Things to Know About Gifting Life Insurance
A life insurance policy reflects long-term commitment.
Strategies to tackle debt
Millions of Americans facing furloughs and layoffs turned to credit cards to stay afloat. Here’s how to get out from under burgeoning balances.
What Biden's Win Means for Retirement Plans
Experts say the president-elect could start the process of shoring up Social Security and embrace ESG investing.
Need Cash? 3 Ways to tap your home equity - and which one's right for you
You need to come up with some cash, fast. Maybe you have a leaky roof that desperately needs fixing or you need help paying for your kid’s first semester of college.
Social Security 'Insurance:' Company Offers Product to Protect Against Surplus Running Out
Those approaching retirement now can now buy a type of “insurance” to guard against reduced Social Security benefits.
This Is the Best way to lower your cable bill, experts say
You don’t have to cut the cord completely to enjoy major savings on your monthly cable bill.
Before Your Build: Here's What You Should Know About Construction Loans
There’s nothing quite like building your home from the ground up.
second mortgages: What they are, how to qualify, and where to get them
If you’ve been cooped up in your home during COVID-19 quarantines, you may be daydreaming about home improvement projects to spruce up your four walls.
If You Can't Qualify for a conventional Refinance, try these two HARP Program Replacements
Refinancing your home is like pushing the reset button on your mortgage.
how vA loan recipients can join this year's refinance boom and save on interest
With interest rates so low, now is a great time to refinance.
Considering a Reverse Mortgage? Be Aware of These Pitfalls
You may have seen the ads on daytime television, featuring friendly spokespeople from some of our favorite shows of yesteryear who tell seniors they can unlock home equity through a reverse mortgage.
Don't Fall for a Low Interest Rate. The APR Is What You Should Be Looking At
No one wants to pay more than they need to on a mortgage loan or refinance.
Money Fix: Consumers Say Credit Ratings Dropped Despite Pandemic Deferrals
Some hardship programs that allow people to defer monthly payments on credit cards, home, car and student loans during the pandemic offered by creditors have proved problematic for folks who thought they were a godsend.
how to get a loan during uncertain economic times
Amid the coronavirus crisis, lending requirements have changed.
Reframe 401(k) Participant Education to Stop Stressing Risk and Start Emphasizing Goals
Why do so many financial professionals still emphasize “risk tolerance” when the concept was debunked decades ago?
Here's How the 401(k) Fiduciary Dispels the "This is Retirement?" Conora-Quarantine Fear
What’s it like to not have to commute? What’s it like to sleep in a little later than normal? What’s it like to live a more relaxed, less hectic life?
what to consider if your company offers you an early-retirement package
As companies across the economy look to trim costs amid the coronavirus crisis, some big employers like Boeing are offering voluntary buyouts and early-retirement packages.
Hit By the Virus and Weighing a raid on your 401(k)? Beware
Many Americans are struggling financially due to the coronavirus.
Here's What You Should Do With Your Coronavirus Rescue Check
As part of a $2 trillion stimulus deal, the government will likely issue payments of up to $1,200 for individuals and $2,400 for married couples.
There's No Stimulus Deal in Sight: What Does That Mean for You?
Another stimulus package appears to be on hold until after the presidential election, threatening to delay urgently needed unemployment aid and a second round of $1,200 direct payments by at least a month.
Is Now a Good Time to Refinance to a 15-year mortgage?
With interest rates at historic lows, homeowners in good financial shape have a chance to refinance their mortgages and get a better deal.
What's a bear market and why are stocks about to enter one?
The record-long bull market, which for 11 years has dodged existential threats from trade wars to real wars, is now confronting a risk that it might not be able to overcome: the coronavirus.
These 3 Big student Loan Changes Could Be In Store Under Biden
The U.S. political landscape may have shifted with President Trump on his way out and President-elect Joe Biden on his way into the Oval Office –
Home Equity is Surging - Here's why now is a 'great time' to refinance
The coronavirus pandemic has created opportunities in the housing market as interest rates reach near-historic lows and demand outpaces supply.
Common Credit Card Fees and How to Avoid them
Americans love their credit cards, but they don’t like the fees attached to those credit cards.
With stock markets tumbling, residents increasingly worried over 401(k) and retirement plans
As fears over the coronavirus persist and governments enact new regulations to prevent the spread of the disease, the stock market is becoming more volatile.
Taking Out a Personal Loan? Some Mistakes to Avoid
A personal loan can be a great way to obtain funds as long as you know the potential pitfalls.
Eager to Retire? Hang On
Waiting a year or two might make more sense.
More Than One Child? Does Each Need a Separate 529 Plan?
529 plans can help you plan for college – but do you need more than one?
How Much Can You Contribute to a 401(k) for Retirement?
Savers ages 50 and older can put away an extra $6,500 in 2020.
Buy Long-Term Care Insurance at the Right Age to Get the Best Value
Balance benefits, risks and costs, then decide.
How to Set Up a Credit Freeze
Learn how to use one of the strongest levels of protection consumers have against fraud.
How to Transfer a Balance to an HSBC Credit Card
HSBC offers a few options for consumers who want to transfer an existing balance.
How to Add an Authorized User to a Citi Credit Card
Citi allows you to add up to 10 authorized users at no cost to you.
Coronavirus: How to Deal With Credit Missteps
Delinquencies, charge-offs and more might be looming on the horizon. Here’s how to prepare for common credit card mistakes in the wake of a crisis.
Cash vs. Credit vs Debit: Here’s When to Use Each Payment Method
If you want to earn rewards or boost your score, credit cards are the way to go. But what about cash or debit? There’s a time and place for every payment method.
What Is a Good APR for a Credit Card?
With new card offers’ interest rates near an all-time high, you may still be able to find offers that shave a few percentage points.
9 Money Moves to Make Now - If You Have $1,000 in Your Account
Even $1,000 is enough to change your financial life.
Survey: Why 'Setting and Forgetting" is Hurting Americans' Retirement
Michael Foguth in How To Shave Hundreds Off Your Credit Card Balance Before the End of the Year
The absolute first thing you need to do is take a look at the number you need to pay off and break it down,” said Michael Foguth
What's the Difference Between a Loan Cosigner and a Guarantor?
Some financial terms are so similar that they end up being used interchangeably. But that doesn’t mean they’re the exact same thing.
Livingston County’s Own Financial Pro Says: Think Long and Hard Before Using a Promotional APR
Zero-percent interest offers for credit cards are so common now that I usually just delete or toss them. Surely, another one is right around the corner, should I desire it, since my credit is solid.
What is a Joint Bank Account?
A joint bank account can make your financial life easier and less complicated if you manage your money with another persons, such as a spouse or partner.
How Does Owner Financing Work? What Homebuyers and Sellers Need to Know
Buying or selling a home can be a complicated process.
7 Facts Everyone Should Know About Mobile Check Deposit
Like most Americans, you likely live your life on the go.
The Pros and Cons of CD Investing
Certificates of deposit may seem boring and predictable.
Coroanvirus and Your Social Security Benefits: Here's How They Will Be Affected
The coronavirus pandemic has disrupted our lives and dealt a major financial blow to millions.
Avoid Going Overboard on Cash Withdrawals During Coronavirus Crisis
How to Save Money: 10 Easy Tips
Saving money doesn’t have to be so hard. It just takes practice.
How To Switch Banks in 6 Simple Steps
Like karaoke night at your favorite bar, banking fees have a way of making even longtime customers head for the exits.
How to tap your 529 plan to pay for college tuition
The 529 college savings plan is one of the best ways to set aside money for your children’s college education. The plan offers a host of features that make it an attractive option for savers, including sizable tax breaks and deductions just for doing something that’s already valuable for a future college student.
How to save $1,776 over the next year
As Baby Boomers approach retirement, they may encounter a lot of so-called “expert” advice telling them how to invest just before or during their golden years. While some of this guidance is sound, other tips are myths that may, in fact, steer investors in the wrong direction.
A UAW-GM deal could bring big bonus, raise. Here’s what to do with the money
After the long, contentious five-week walkout at General Motors, UAW members will no doubt have to pay off the bills that have been building since the strike began Sept. 16.
Detroit Free Press Quotes Michael Foguth from Brighton
The 529 college savings plan is one of the best ways to set aside money for your children’s college education. The plan offers a host of features that make it an attractive option for savers, including sizable tax breaks and deductions just for doing something that’s already valuable for a future college student….
Michael Foguth Talks with Detroit Free Press
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….”
How to Negotiate Rent With Your Landlord If You Can't Pay Due to Coronavirus
These steps improve your chances of getting a temporary break from your lease.
13 Quick Ways to Save Money If Lost Your Job Due to COVID-19
In a crisis like the coronavirus pandemic, the normal rules of life go out the window.
5 Ways To Build Credit Or Boost Your Credit Score Without A Credit Card Or Debt
Whether you’re completely new to using credit or simply doing your best to avoid debt, you might find there’s one annoying side effect: You don’t have a good credit score. Maybe you don’t have a score at all.
Unemployment: What To Do If Your Direct Deposit Is Late
If your unemployment check or direct deposit hasn’t arrived, here are possible reasons.
The Minimum Mortgage Qualifications for 2021
Here’s what you need to know about the stricter lending standards triggered by COVID-19.
How Much Does It Cost to Raise a Child?
The government has said the price of one child is $233,610, but as the saying goes, your mileage may vary.
Best Ways to Quickly Transfer Money
With some apps, your cash is there in minutes instead of days.
Is a Co-Branded Credit Card Right for You?
Co-branded cards can reward your brand loyalty but may not always be the best choice.
Best IRA Account Providers
You don’t need a lot of money to open a tax-advantaged IRA account with these companies.
What Happens if You Don’t Pay Your Taxes?
Tax season will be here before you know it, and you may be wondering what could happen if you don’t file your 2019 returns by the April 15, 2020 deadline.
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.
U.S. News and World Report speaks with Brighton’s Michael Foguth about Scams
Brighton Financial Expert featured in US News Property Investing Report
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.
12 Credit Card Rules You Should Never Break Featuring Insights by Michael Foguth
“I’m not a fan of department store credit cards for two reasons,” says Michael Foguth, founder of Foguth Financial Group in Brighton, Michigan. “For one thing, the revolving interest rate is typically highest on those department store cards.
Brighton Personal Finance Expert on 13 Silly Wastes of Money You Don’t Even Think About
Bring your lunch to work. Skip the daily latte. You know how to cut costs on a daily basis, or during particularly money-crunched times.
Foreclosure Basics: How It Works and What To Do To Keep Your House
A foreclosure is a legal action mortgage lenders use to take control of property that is in arrears.
These Housing Markets Are Most At Risk for a Coronavirus-Driven Downturn
Numerous New York, New Jersey and Illinois counties are among the most at-risk areas in the country for wide-ranging defaults and home foreclosures as a result of the coronavirus…
Will 'Staying Safe at Home' Boredom Cause You to Avoid Retirement?
The dramatic precipitous fall in the markets have shocked many.
Will Coronavirus Quarantine Convince You to Retire Early?
We’re all getting a taste of retirement – even if we don’t know it.
Baby Boomers: Don’t Buy Into These 10 Pre-Retirement Investment Myths
Being an American means more than hosting backyard barbecues, enjoying a slice of apple pie and chugging a beverage at a baseball game. We value life, liberty and the pursuit of happiness. Though our ancestors come from different lands, many of us strive for the same thing: a home, a couple of kids running around and of course, a dog.
Brighton's Local Personal Finance Expert Quoted by Forbes
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 …
Money Goals! Michael Foguth, Brighton Personal Finance Expert, Comments on the Zero-Dollar Days Method
From expenses tracking and receipt saving to micro-budgeting and major cost-cutting, saving money for the long term can quickly become a tedious process.
Brighton Retirement Advisor Quoted in Time Magazine
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…
Michael Foguth Featured on NBC News online
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.
How to save big bucks on school supplies
According to the National Retail Federation, families with children in kindergarten through 12th grade plan to spend an average of $697 this year. Clothing and accessories take the biggest cut, closely followed by electronics.
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