With high prices and tight inventory, buying a house is almost impossible.

There have been great swings in the stock market over the past year and the Dow is down about 5% since the beginning of the year.

If you accepted advance child tax credits in 2021, you’ll want to know this information before you file taxes.

Cryptocurrency is the hot new financial phenomenon -- but what is all the excitement about? And should you buy some?

DETROIT – The COVID pandemic has impacted nearly everyone’s finances, but outside of that misfortune may be a silver lining. With many experiencing loss of jobs and/or businesses and lower income this year, the pandemic has forced us to take a closer look at our finances and consider new options to save money -- and a Roth IRA conversion might just be what the doctor ordered. You might be able to help yourself by taking invested assets in a pre-tax traditional individual retirement account and move that money to a Roth IRA. “You have to pay taxes when that conversion gets made, but once its in the Roth, it’s in an income tax-free investment, which is a significant benefit,” said Planning Alternatives Certified Financial Planner Nathan Mersereau. Individuals should not attempt to set up a Roth conversion on their own and are encouraged to speak with a certified financial planner or financial advisor before pulling the trigger.

DETROIT – 2020 has been a unique year with the pandemic, and yet the stock market has done well. So what are the investment prospects for 2021 and what should you do to protect the money you have already saved? It’s been more than a decade since the great downturn and auto company bankruptcies, and investors have become used to rising markets again. A focus on diversity is more important than ever as the economy recovers, but financial markets always look further down the road. “We could see some serious inflation in upcoming years, but we could also see or see some serious deflation,” Foreman said.

While your mortgage interest is tax deductible, a lower mortgage payment or cutting back on the number of years on your note is a great idea if you haven’t done so recently. Nathan Mersereau, certified financial planner and CEO of Planning Alternatives, said rates this low make it imperative to at least look into financing. If you have the opportunity to refinance, lowering your monthly mortgage payment is going to save you money that you can immediately put in your pocket or apply to your goals,” Mersereau said. Why it’s important to have your personal financial paperwork in orderREAD: Year End Money: Why calculating your net worth is importantThe Dollar Stretcher editor and founder Gary Foreman said there are many things to consider when refinancing your mortgage. Their rates may be a lot cheaper than the rates that you got when you first bought your car.”Watch the full report in the video above.

DETROIT – As 2020 comes to an end, it’s important to have your personal financial paperwork in order. Certified financial planner and Planning Alternatives CEO Nathan Mersereau agrees the consequences get very expensive. “If you don’t have it in writing, the state has a plan for you already. You don’t need an attorney to draw up a will, but it is a good idea. Then there is the financial power of attorney.