FINANCIAL HOUSEKEEPING: Find a financial adviser
The search for a financial adviser may start with referrals from friends and loved ones, but it should include suggestions from the major financial-planning groups.
To find adviser candidates in your area – along with basic questions to ask during interviews – check out the following websites:
SHORT COURSE: Pass-through securities
Whenever a government agency or corporation buys loans, pools them and repackages them as securities, it may create pass-through securities. That means that regular payments of interest, dividends or capital gains are funneled – or passed through – to investors.
The income isn’t the only thing that passes through to investors; so do any tax liabilities.
Mutual funds are the best-known pass-through securities, but mortgage-backed bonds from Fannie Mae, Ginnie Mae and Freddie Mac are other asset-backed securities that operate on a pass-through basis.
