We help you help yourself
Giving you the Keys to Financial Health with a low rate debt consolidation loan
Welcome to Broadstar Financial
At Broadstar Financial, we know that there is no one-size fits all solution when it comes to managing your debt. Every family is different based on its own set of financial, logistical and emotional circumstances. If you are looking to ease your existing debt load, we will explore alternatives for you to pay off your credit cards at a lower rate that what you may be currently paying.
Broadstar Financial reviews applications to determine if individuals are eligible for loans. If they are eligible, their loan applications are then referred to a loan company. If they do not qualify, Broadstar Financial is unable to assist them in getting a loan.
The Right Way to Pay Off Debt
Accumulating debt can really sneak up on you. Credit cards often offer low monthly payments and high rates of interest that when combined with high balances can become a real financial nightmare. Once you recognize you have too much debt, there are a number of ways to address the problem and repair the damage.
The long term strategy is to control spending and gradually pay off debt, while changing spending habits.An effective short cut, is through a debt consolidation loan. While a debt consolidation loan does not make the debt immediately go away, it can provide immediate relief with improved cash flow. That’s because this strategy will provide a lower rate of interest, lower payments and a faster payoff.
If your debt is overwhelming and you are unable to budget your way out of debt, then a consolidation loan might be the answer. This solution allows you to convert high interest credit card debt into lower interest payments that will pay the debt off faster. The biggest advantage to a consolidation loan is that it offers immediate relief for an overwhelming problem. It can reduce monthly costs so you are living within your means and making progress with paying off debt. Read more.
**Qualification for loans is based on information in your credit report indicating that you meet certain criteria. Qualification is not guaranteed if you do not meet select criteria.
Unconventional Ways to Save For Retirement
Many experts recommend saving a minimum of one million dollars to fund retirement adequately. Others advise clients to set aside ten times your end of career salary, which in many cases amounts to one million dollars or more. Late starters could need to save 20% or more from now until retirement, to achieve adequate savings. With other pressing financial needs such as paying down debt or assisting children with college, the savings recommendations can feel out of reach.
Before deciding you can never retire, consider unconventional saving strategies which can supplement employer-sponsored or personal retirement plans you have in place. Three potential options which can create cash flow in your senior years include the following:
Real estate is a form of diversification that can create wealth and cash flow. While the typical home appreciates 5% each year, you can use other strategies to increase your rate of return, and they provide diversification from traditional stock and bond investments. One major benefit of real estate investments is the many forms available based on your interest, knowledge, and comfort with risk. You have the option of buying and renting residential or commercial property, repairing and flipping homes for a profit, providing cash for other investors, or buying tax liens.
Annuities come in fixed and variable products and can provide lifetime income in retirement much like a pension. They appeal to conservative and moderate investors because they offer a safety net traditional brokerage accounts lack.
Small business ownership. Starting a part-time business before leaving work can provide a way to occupy your time while supplying cash flow in retirement. The Internet has opened new options to seniors wanting to parlay current skills into a part-time income, supplementing retirement income needs.
Capitalizing on unconventional income opportunities can enhance your quality of life in retirement even if you are short of your savings goals.