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…
Dept Managmnt
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 High-yield savings and money market accounts may offer higher returns with more accessibility. CDs may offer higher rates but require keeping your money locked up in a bank for a set term unless you pay early withdrawal penalties. Treasury bills are low-risk, but buying and selling them entails…
A $50,000 windfall could really get you started securing your financial future. With time and some smart financial planning, you could create financial stability for yourself and your family — and could even turn your money into a million dollars by making some really basic investments. Here’s how to invest…
Key takeaways Robo-advisors provide automated investment management for relatively low fees. Services, such as automatic portfolio rebalancing and tax-loss harvesting, can save investors time and stress and potentially offset advisory costs by also saving money. Robo-advisors are best suited for investors who want or need help managing their finances than…
Key takeaways Mutual funds — a type of investment that lets you buy a collection of securities — offer convenience, professional management and diversification. There are a few drawbacks with mutual funds, including high fees, uncontrollable tax events and no intraday trading. If you’re new to investing, mutual funds can…
Key takeaways A debt management plan (DMP) can make it easier to manage your unsecured debts, including credit card bills and personal loans. If a credit counselor successfully negotiates with your creditors, you can avoid collection calls, save on interest expenses and get out of debt sooner. However, debt management…
Key takeaways Traditional personal finance goals can be difficult — if not impossible — to achieve on a low income. Just because you can’t meet those goals doesn’t mean you can’t make goals that work for you. To save more money on a low income, adjust your goals, track your…
For decades, the conventional wisdom about mortgage refinancing has been clear: You should swap loans only when mortgage rates have dropped a full percentage point from the rate on your original loan. However, that’s not always the case. Should you hold off on refinancing until rates drop 1 percent? The…
Key takeaways Evaluate your finances and credit score so you can set a realistic car buying budget. Determine what you want, how much it costs and what you’re willing to spend before you visit any dealerships. Shop multiple dealerships to get an accurate sense of prices. Prequalify for an auto…
Key takeaways A personal line of credit is a revolving account that works like a credit card. Personal lines of credit are unsecured with variable rates that are typically much lower than credit card interest rates. You can take out a line of credit for business purchases or for personal…
Key takeaways The Chase Sapphire Reserve® is getting a major update, including a higher annual fee of $795. Chase is also launching the Chase Sapphire Reserve for Business card as a premium luxury business travel card. Both cards will offer new benefits and spending incentives, as well as lofty welcome…
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