Refinance Your Mortgage, US Consumer Sentiment Surged In January, 529 Plans To Repay Student Loans

In this episode of the Planned Solutions Incorporated Podcast, Mortgage rates have declined recently from very high levels. This has caused some homeowners who purchased a new home last year during the higher interest rate environment to consider refinancing their mortgage to capture the lower rates. While mortgage interest rates are a big factor in determining whether it makes sense to refinance a mortgage other factors should be considered as well. Also, US Consumer Sentiment surged to end 2023 as yet another positive sign that US consumers will continue to support US economic growth. Consumer Sentiment is an inverse indicator meaning that investors often want to buy when it is low and reduce risk when it is high. Now, the Consumer Sentiment is no longer at bargain price levels but still is well below its peak from past economic and market cycles. And, 529 educational savings plans now offer several options for plan owners who have funds left over after higher education expenses for the beneficiary are paid. These include transferring the funds to another beneficiary, using the money to fund a Roth IRA for the beneficiary, or using the money to pay off up to $10,000 in student loans for the beneficiary and/or their siblings. Plus a look at the Planned Solutions Incorporated Office Bulletin Board - The Internal Revenue Service announced that Monday, January 29, 2024, will be the beginning of the 2024 tax season (the day when tax returns may be submitted and processed for the 2023 tax year.) In addition, the deadline to file personal tax returns this year will be on Monday, April 15th, 2024, unlike past years when the deadline was extended by a few days to accommodate a holiday recognized by the District of Columbia. This is the date to file a return or apply for an extension to October 16th to file returns. However, any tax owed is due by the April 15th deadline. As always, if you have any questions about investment tax forms or the forms that will be needed to prepare your tax returns in general, feel free to give us a call or send an e-mail so we can make sure you file a complete and accurate tax return. Chase Armer's book- Financial Planning Insights is now available at: https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected] The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action. Planned Solutions, Inc.