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 Using a business credit card for personal purchases isn’t technically illegal, but could violate the terms and conditions of your card agreement, which has consequences. These can include the closure of your account, personal liability, tax implications, more complicated bookkeeping and a negative impact on your personal and…
Key takeaways Your current balance (or outstanding balance) and statement balance are two entirely different figures. Your current balance and statement balance can occasionally align, particularly after your billing cycle ends. The best way to avoid credit card debt is to track your current outstanding balance and pay your statement…
The Good Brigade/Getty Images Key takeaways A cost-of-living adjustment (COLA) is an annual increase in Social Security benefits to help account for inflation. Social Security COLAs are based on the Consumer Price Index for Urban Wage Earners (CPI-W). For those living on a fixed income, a COLA is a critical…
The origination of home equity loans, home equity lines of credit (HELOCs) and cash-out-refinances rose 11 percent in the fourth quarter of 2024, according to TransUnion. That marks the third straight quarter of year-over-year increases. And it doesn’t stop there. HELOC balances are growing too — by $6 billion in…
Chicago History Museum/GettyImages Mob boss Al Capone was famously convicted of tax evasion. He didn’t pay taxes he earned through illegal operations, and he went to prison for it. But while tax evasion is illegal, tax avoidance is not. Tax avoidance involves using legal strategies to lower your tax liability.…
Key takeaways Inheriting an IRA can be complex. The rules differ based on your relationship to the deceased, your age and even their age at death. One misstep can trigger hefty penalties or tax bills you can’t undo. Surviving spouses can treat the IRA as their own or remain as…
Credit Sesame explains how a great credit score, though not a formal classification, is widely used to describe scores in the very good to exceptional range and may lead to better rates and stronger offers. Credit scores can influence everything from the interest you pay on a loan to the…
Key takeaways Dollar-cost averaging is a popular investing strategy that entails buying new investments at regular intervals, such as once a month. If you have a 401(k), you’re already dollar-cost averaging with every paycheck. But you can also use the practice in a typical brokerage account, individual retirement account (IRA)…
Key takeaways Increasing your credit limit on your Apple Card* can provide more budget flexibility and improve your credit score. Goldman Sachs, the card’s issuer, considers your income, credit score and credit utilization ratio when determining eligibility for a credit limit increase. If your request is denied, focus on improving…
Key takeaways Lenders provide a variety of farm loans for operating costs, ownership, natural disasters and more Farmers edged out of traditional financing can seek low-cost Farm Service Agency (FSA) loans To apply for a farm loan consider whether you meet the lender’s criteria for experience, credit and down payment…
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