Within the last few years, SPACs have become numerous and incredibly popular. SPAC stands for Special Purpose Acquisition Company. Huh? Sometimes called “Blank Check Companies”, SPACs are all the rage in 2020 and 2021. But why?
With interest rates at historic lows, there seems to be a pretty simple answer. Yes! …Probably. There as an old rule of thumb that said if you can reduce your interest rate by 1.5%, it is worth refinancing. Loan officers often tell you about the “monthly cash flow savings” from refinancing, calculating that if you’ll save $200/month off your current payment and their fee is $2,400, that you get your “money back” in only 12 months. However, what they sometimes fail to mention is the fact that you’ve often extended the length of your loan to get that cash flow savings. The only savings that really matter is the interest savings you'll reap over the life of the loan.
I’ve watched Bitcoin increase in U.S. dollar value nearly 300% in the last year. If ever I was subject to FOMO (fear of missing out), there was a strong pull in 2020; with Tesla stock and Bitcoin leading the charge.
We encourage our clients to provide us copies of their life insurance policy statements for analysis. During the financial planning process, we perform a life insurance needs analysis, and determine if the client has too little coverage, too much coverage, or just the right amount of life insurance coverage – or if they need life insurance at all.