Imagine turning a single $400,000 investment into a steady monthly paycheck that lasts the rest of your life. For many retirees, that kind of predictable income can feel like a financial safety net in an otherwise uncertain retirement landscape. Annuities provide exactly that, but the amount of income they generate,…
When you’re ready to get out of debt, you can either go it alone or work with a professional debt relief company. The decision is personal and strategic — and it depends on the kind of debt you owe. But whether you choose DIY debt relief or seek professional help,…
An individual retirement account (IRA) can be a significant estate asset. How the account is handled depends on whether a beneficiary is named, who that beneficiary is and which distribution rules apply at the time of death. These factors affect how and when the account is distributed, how withdrawals are…
Debt relief scams offer to help relieve you of debt, but do not deliver on what they promise. They commonly target those with high debt amounts or poor credit scores. Legitimate debt relief companies are out there to help with debt consolidation and settlement. Here are eight red flags to…
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The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
Historically Black colleges and universities are on the frontlines of the One Big Beautiful Bill Act’s new limits on parent…
The big new fees JPMorgan Chase is planning to charge some financial technology companies may well trickle down to consumers,…
With artificial intelligence beginning to eat away at many white-collar entry-level jobs, and the unemployment rate for recent college graduates…
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Retiring at 60 with $1 million is possible for some people, but the outcome depends on how long the money needs to last, how much is withdrawn each year and what other income sources are available. A portfolio of that size may support annual withdrawals…
Dept Managmnt
By Julie Jaggernath If you’ve been spending your time shoveling snow recently, try using it as a chance to think about what money…
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OBSERVATIONS FROM THE FINTECH SNARK TANKBankers wants to discuss AI strategy. They’re excited about chatbots, machine learning models, generative AI tools, and AI…
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The President’s proposal to cap credit card rates at a maximum of 10% over the next year has gotten a lot of attention in the midst of a national affordability crisis. It’s understandable. Rates are flashy, and it sounds good to talk about bringing them down. But I’d argue they…
Relationships provide comfort, companionship, and support throughout all of life’s challenges. However, when financial pressures, like high credit card debt enter the equation, even the strongest relationships can be burdened. If these financial pressures are creating friction between you and your partner, you are not alone. With the right plan,…
Whether you’re making a budget or planning your retirement date, it typically comes down to the same basic math: how much money you can reliably generate and how does that compares to your budget. To help you estimate how much you will need for retirement, let’s work through an example…
MesquitaFMS/GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways Unlike banks, credit unions often limit membership to those belonging to the same community, workplace or organization, though there are credit unions with unrestricted membership. Credit unions tend to charge lower fees compared to banks, but you should still compare fees and account…
Key takeaways With the back-to-school shopping season in full swing, families should take every opportunity they can to save money. One way to lower costs is to shop during a tax-free weekend or holiday, if one is offered in your state. To boost your savings further, pair tax-free weekend shopping…
Selling a home below its fair market value can trigger tax considerations that go beyond a standard real estate transaction. When a property is sold at a discount, the IRS may treat part of the difference between the sale price and market value as a gift, which can affect gift…
Americans are estimated to spend a record breaking 29.1 billion (National Retail Federation NRF) on this Valentines Day. While chocolates and dinners are nice, the most romantic gift you can give your partner is financial security and transparency. Navigating finances as a couple is a rewarding challenge. Creating a shared…
The tax implications of a parent living with you depend on several factors, including financial support, income levels and household arrangements. In some cases, you may be able to claim a parent as a dependent, which can affect credits, deductions and filing status. Shared housing can also influence eligibility for…
Pulling money out of a trust can feel straightforward, but the tax consequences are often anything but. Depending on how the trust is set up and what type of funds you withdraw, a distribution could be tax-free, or it could come with an unexpected tax bill. Many people assume that…
Image: Getty Images; Illustration: Bankrate Slight gains for home equity rates in the latest week. The $30,000 home equity line of credit rose one basis point to 7.32%, according to Bankrate’s national survey of lenders. Meanwhile, the five-year $30,000 home equity loan gained two basis points to 7.92%. Even with…
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