Image by Getty Images; Illustration by Bankrate Key takeaways Prequalification lets you view your predicted loan rates and approval odds without impacting your credit score. Review each lender’s minimum acceptance criteria and loan terms prior to filling out the application to increase your chances of prequalifying. Prequalify with multiple lenders…
Planning for retirement often comes with questions about when and how you can tap into your savings. One such question many people ask is, “Can I withdraw from my 457 while still employed?” Unlike other retirement accounts, 457 plans (also known as 457(b) plans) have their specific rules and exceptions…
The Show-Me State has a little something for everyone, whether it’s the barbecue scene of Kansas City, the historic charm of St. Louis or the natural beauty of the Ozarks. And unlike many states, Missouri’s housing market still offers a level of affordability that can make homeownership a reality. As…
How long it takes to get a 401(k) loan can vary depending on your employer, plan administrator and whether your plan offers an online portal or requires paperwork. In some cases, the process may take just a few days. In others, you may need to wait a couple of weeks…
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The big new fees JPMorgan Chase is planning to charge some financial technology companies may well trickle down to consumers,…
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If a society is going to make intelligent choices in policy, it helps to understand reality, which includes facts and…
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A financial advisor can be a wonderful resource for getting your finances in order, offering you expert advice across a range of financial matters. But financial advisors are not all created equal, and those looking for an advisor must understand the potential drawbacks of using…
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Key takeaways A divorce decree outlines which spouse is legally responsible for each debt after the divorce is completed. States either have community…
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When it comes to selling coconut water to the health obsessed, New York’s Vita Coco has served up a master class, schooling even…
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If you want to send shivers down an economist’s spine, all you have to do is say one strange-sounding word—stagflation. We can hear the calculators dropping and balance sheets tearing right now. Stagflation is an economic term that’s used to describe an unlikely combination of economic conditions: a stagnant (or…
The old adage “everything is bigger in Texas” isn’t always true, unless we’re talking about home insurance headaches. Texas homeowners pay some of the highest insurance premiums in the country, particularly those along the Gulf Coast. On average, Texas home insurance costs $4,049 per year for a $300K policy, around…
We’ve all probably heard a grandparent or parent reminisce about “the good old days”: “I remember when gas was a quarter and hamburgers were 15 cents.” “I made 50 bucks a week at my first job.” Well, we’re a long way from yesteryear, and inflation is the reason prices and…
Key takeaways A buyer’s agent is a real estate agent who specializes in helping buyers navigate the homebuying process. Buyer’s agents are different from listing agents, who represent the seller in a real estate transaction. While no one is required to hire an agent to buy real estate, most house-hunters…
Remember when you were first trying to figure out life after high school? People were expecting you to make all these life-altering decisions—like what college to go to, what major to choose, and what dream job to chase after. Somewhere along the way, you were probably sold the idea of…
Images by GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways A primary residence is the home where you live for a majority of the year. Using a property as your primary residence has several benefits, including more favorable mortgage terms and a number of tax advantages. You can only have one…
Not sure which funds to invest in for retirement? We hear you. You’ve probably heard a lot about S&P 500 index funds. It’s a bit of an investing buzzword. But what are S&P 500 index funds and are they a good place to invest your money? Basically, the S&P 500…
Key takeaways Improving your finances before applying for a mortgage gives you the best shot at getting good terms. In evaluating your creditworthiness, lenders consider your credit score, income and other assets, debts, the amount of your debts in relation to your income, and your employment history. Improving your credit…
Nothing says “I’ve reached adulthood” like opening up your own checking account. Maybe you just got your first real job and have to set one up for the direct deposit of your paycheck, or maybe you just realized you’re sick of carrying around your life’s savings in your sock all…
Key takeaways There’s often a big difference between the home equity you have and the home equity you can literally use, or tap, for ready cash. Homeowners can never borrow the full amount of their equity — they must leave around 20% of it in the home. The size of…
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