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,…
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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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andresr/Getty Images: Illustration by Issiah Davis/Bankrate Key takeaways Debt financing is any type of financing that allows a business to borrow money that needs to be repaid with interest. Types of debt financing include term loans, lines of credit, SBA loans, equipment financing and invoice factoring. Debt financing allows you…
Key takeaways A certified check is a personal check verified by your bank with guaranteed funds set aside for payment. Typical costs range from $10 to $20 per certified check, varying by bank and account type. Primary uses include large transactions like car purchases, real estate deals, and unfamiliar party…
Key takeaways Tariffs will make it harder for many small businesses to afford imports, especially Chinese imports. To help mitigate rising costs, keep your business finances separate from your personal finances, rethink your income streams and look for local community assistance. When Mallory Hank-Johnson recently ordered ribbon as a supply…
Key takeaways Medical school loan forgiveness may be available through the federal government, state government or other programs. Forgiveness programs erase some — or all — of your debt after you have fulfilled certain obligations. Loan forgiveness is one way of offsetting the substantial costs of medical school, but these…
Key takeaways CDs and share certificates are nearly identical fixed-term deposit accounts that earn guaranteed returns over a set period. The main difference is that CDs are offered by banks and pay interest; share certificates are offered by credit unions and pay dividends. Both are federally insured up to $250,000…
What if we told you that, according to J.D. Power, only 1 out of every 4 personal loan borrowers identify themselves as “financially healthy”? The consumer insight data firm also rates personal loan lenders — we’ll get to their rankings — but its latest survey of nearly 6,000 borrowers may…
Key takeaways Built-in budgeting tools help automatically track and categorize spending without needing separate budgeting apps. Ally Bank’s “buckets” feature allows both spending categorization and savings goal tracking within one platform. Capital One’s Eno virtual assistant can identify recurring charges and subscription fees to help eliminate unnecessary expenses. Most major…
Small-business owners have a lot to consider when setting up shop, but one of the most important factors to think about is how your business will be taxed — and the business structure you choose will have a large impact. If you choose to set up your business as a…
Key takeaways LGBTQ+ friendly banking addresses unique financial challenges like name changes, discrimination in lending and specialized financial needs. Key features to look for include non-discrimination policies, chosen name options on cards, employee resource groups and community support. Major LGBTQ+ supportive banks include Amalgamated Bank, BMO Harris, Capital One, Chase…
Key takeaways A personal loan can get you cash within days at a fixed rate and steady payment. Personal loans tend to carry lower, more affordable interest rates than credit cards. Before deciding to get a personal loan, consider potential downsides, such as steep fees and rigid repayment terms. Personal…
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