Pensions and 403(b) plans represent two distinct ways to save for retirement, each with its own structure and advantages. A pension provides a predictable income stream in retirement, usually funded and managed by an employer. A 403(b), on the other hand, relies on employee contributions and investment growth, giving individuals…
When you think about estate planning, wills, trusts and life insurance usually top the list. But annuities deserve a spot in the conversation, too. Beyond providing reliable income in retirement, annuities can ensure your spouse keeps receiving steady checks, transfer wealth to heirs and help sidestep probate. Still, annuities come…
By your 60s, most of your retirement foundation is already in place. While you may still have a few years to save, building significant new wealth is less likely unless you continue working during retirement. This stage typically shifts focus to taxes, withdrawals, Social Security and budgeting. To help you…
Getty Images / Win McNamee / Staff Key takeaways The Federal Reserve’s September rate cut is likely the beginning of lower yields on CDs and other deposit accounts. Locking in a CD now can secure today’s higher rates, which are still outpacing inflation. Don’t rush to put money into a…
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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…
If a society is going to make intelligent choices in policy, it helps to understand reality, which includes facts and…
New York startup Casap has raised $25 million in new funding to help banks tackle the thorny problem of credit…
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Life throws curveballs. And often those curveballs mean you’re spending your hard-earned savings or you’re borrowing money instead. It can feel like a catch-22: Creating savings should help you avoid costly borrowing, but spending it equals losing it and going back to square one. So…
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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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An excise tax is a tax on the purchase of a specific good or service, such as alcohol, cigarettes or gambling. Some excise taxes are imposed by the federal government, while others are imposed at the state or local level. What is an excise tax? An excise tax is similar…
With the economy slowing and President Donald Trump’s tariffs likely to stoke inflation, investors face various risks. Building a portfolio that has at least some less risky assets in it can be useful to help you ride out volatility in the market. The trade-off, of course, is that in lowering…
DRAKULA IMAGES/Getty Images Key takeaways A credit privacy number, or CPN, is a nine-digit number similar to a Social Security number. Companies may try to sell you a CPN with promises of guaranteed loan approval, but this is a scam. Using a CPN on credit applications is fraud and may…
Thomas Barwick/Getty Images Key takeaways Debt consolidation and bankruptcy are strategies to relieve debt, but the effects are radically different. Bankruptcy can give you a fresh start by restructuring your debts or liquidating some of your assets, but it can ruin your credit. Debt consolidation combines several debts into one,…
Key takeaways If you’re considering a vacation home, prepare for higher interest rates and costlier homeowners insurance than you have for your primary residence. You’ll also need enough money to cover a new set of property taxes, maintenance, repairs and property management fees. In addition, you might choose to invest…
Image by GettyImages; Illustration by Bankrate Key takeaways Errors and negative information on your credit reports can lower your credit scores. Cleaning up your credit report may help you raise your score and work toward your financial goals. You can clean up your credit reports on your own or get…
Key takeaways A 609 dispute letter is a formal way to request more information about the accounts on your credit report. Sending a 609 dispute letter may help you remove errors from your credit report. Legitimate accounts should stay on your credit report even if you send a dispute letter.…
Key takeaways Debt relief options can help reduce your balances or lower your interest rates. Debt consolidation loans and balance transfer credit cards make it easier to manage your debt and potentially save a bundle in interest. You could also find relief if your creditors agree to enroll you in…
Key takeaways The ROI of a college degree depends on your education costs, salary potential and values. Researching tuition and potential salary outcomes is essential to weighing your degree’s long-term value. Attending a top-ranked school may increase your salary potential but isn’t the only path to a strong ROI. Rising…
Saving and investing are both important concepts for building a sound financial foundation, but they’re not the same thing. While both can help you achieve a more comfortable financial future, consumers need to know the differences and when it’s best to save compared to when it’s best to invest. The…
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