AboutJaynee Sasso Expertise I can answer questions about how to develop an effective budgeting strategy, rebuild & repair your credit, getting out of debt, developing a financial plan beyond paying bills, money & relationships and positioning yourself to experience a lifetime of financial success.
Experience Jaynee Sasso is founder and president of Faithful Assistants Inc, which is an online financial empowerment center. Sasso has been a licensed real estate agent for ten years and a broker for five years. As a foreclosure specialist, she helped families understand their options and helps them survive foreclosure and financial ruin.
Prior to founding Faithful Assistants Inc. Sasso worked as a licensed registered representative (Series 6 & 63 securities license) and life insurance representative for three years. It was during this time, as well as, her continuation in real estate that lead to the creation of her company. With all the financial difficulties facing Americans today she feels compelled to help them uncover the root of their financial problems and teach them the financial principles that would change their mindset first and ultimately their behavior.
Publications I currently have a financial column in the Urban Views Weekly newspaper. Please visit www.urbanviewsweekly.com You can also get more financial tips by visiting my blog at www.commonsensewaytowealth.blogspot.com
Education/Credentials Sasso recently accepted the position of Chief Financial Officer of Mt Gilead Baptist Church in Newport News, VA. She attended Clark University in Worcester, MA and is an alumnus of the Congressional Youth Leadership Council & A Better Chance Inc., 1995. She also served as a member of the Short Hills BNI chapter and speaker for the Somerset County Coalition On Affordable Housing SCCOAH - Step by Step 1st time homebuyers program. She is the former host of the "Protect Your American Dream" radio broadcast featured on the WMCA 970 AM.
Question I have credit card debt and it is scaring me because of how banks are raising rates, etc. I have a pretty high FICO score with an excellent credit history, but want to get rid of this debt. Should I use funds from an IRA, which is not a big amount, to pay off these cards? I recently retired and am trying to live on SS and a small retirement.
Answer Hi Patsy,
Before you withdraw any money from your IRA I strongly suggest that you consult with an investment or tax professional to ensure that you are making the best choice for your specific tax situation.
With that said I do believe that paying down your credit card is a smart move. Especially if you are now adjusting your lifestyle to meet your present retirement income.
However, in order to maintain a good credit rating its important that you actively use your credit card accounts. So it is necessary to carry a very small balance and continue to make payments each month. You may want to set up an automatic withdrawal from your bank account to make your life a little easier.
Please be sure to visit www.CommonsenseWaytoWealth.com for more information on how to optimize your financial health.
