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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Key takeaways A longer loan term means you’ll have a lower monthly payment, but you’ll also pay more in interest. A shorter loan term helps minimize borrowing costs and the risk of being upside-down on your loan. Consider the monthly payment and overall cost of ownership when determining which auto…
Key takeaways A second-chance auto loan is an auto loan that caters to borrowers with subprime or deep subprime credit. Second-chance car loans come with higher interest rates that can inflate the price of a car loan by hundreds of dollars. There are more affordable alternatives to second-chance auto loans,…
10’000 Hours/DigitalVision /Getty Images Key takeaways Closing a Citi credit card is easy, and you can do so online or over the phone. There are alternatives to closing your Citi card, such as requesting a product change or stashing the card away. Closing a credit card can…
Deciding whether to stop Social Security and restart it later depends on your age and how long you have been receiving benefits. If you have been on Social Security for less than 12 months, you can apply to withdraw your application. This will essentially erase the claim. For those who…
Key takeaways Reasons consumers may be turned down for a bank account include suspected fraud, mistakes on their checking report or having an unpaid negative balance on a past account that resulted in the bank closing the account. You may be able to move forward by clearing up your checking…
When I was in college, getting student aid felt like free money – who doesn’t love getting free stuff? My wife and I were newly married and finishing our degrees. We were busy waiting tables and working in daycare to pay for rent and car insurance. On top of all…
The biggest wave of wealth in history is set to pass from baby boomers over the next 20 years, and it’s going to have a huge impact on those who stand to inherit it. It’s called The Great Wealth Transfer — when an estimated $84 trillion is poised to move…
Key takeaways Traditional IRAs and self-directed IRAs are both tax-advantaged retirement accounts. The difference is that SDIRAs allow you to invest in alternative assets, such as real estate, private equity, precious metals and cryptocurrencies. Choosing which type of retirement account is right for you comes down to your investment preferences,…
Retirement planning is a long game, and you win by consistently saving and investing during your working years. But along the way, certain tips and strategies can help your nest egg grow bigger and last longer, without too much effort on your part. The catch? Most people don’t know these…
Social Security doesn’t usually offer a “do-over,” but retirees can turn to this option in a few select cases. For those who find they can get by without their monthly benefit check, for now, suspending it could help secure a larger payout later. But don’t get this strategy confused with…
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