You never know what life is going to bring you each day. You might be driving to work one morning and have a vehicle pull out in front of you to cause you to crash into them. And if you are not prepared with some money saved away for such a situation to pay for your insurance deductible, you may be out of a vehicle for a period of time unless you can come up with the cash to cover your new expense.
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If you have a bankruptcy in your past, it can affect your ability to get a loan; however, you can do things that will improve your chances of getting approved for a mortgage faster. The best thing you can do if you want to buy a house after bankruptcy is talk to a mortgage broker. The broker will tell you exactly what you need to do to qualify for a loan, and he or she will tell you exactly when you should qualify for a loan.
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Many companies add an additional matching amount to 401(k) contributions made by employees. However, the employer contribution sometimes consists of stock in the company itself, resulting in a 401(k) portfolio that is heavily invested in a single stock. Employees who hold stock in their employer through a 401(k) plan may receive preferential tax treatment on a stock distribution by not rolling the stock over with the rest of their 401(k).
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