Because annuities are designed to provide long-term income, accessing funds too early can trigger an annuity early withdrawal penalty. Insurance companies typically impose surrender charges if you withdraw money within the first several years, and the IRS may add a 10% penalty on withdrawals before age 59 ½. These costs…
Key takeaways APR reflects the total annual cost of a personal loan, including both fees and interest. Many lenders state their APR online to make it easier to compare before you apply. Your APR will be based on your credit score, income and other financial factors. The annual percentage rate,…
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…
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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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When the Federal Reserve changes interest rates, consumers feel the ripple effects in all sorts of ways. For savers, banks offering top interest rates tend to pay more when the U.S. central bank hikes rates and less when it cuts them. “Regardless of what the…
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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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Ask people where they’re heading this summer, and you’ll likely find some familiar big-name tourist spots. However, Bankrate’s 2025 Vacation Rental Study shows that there is plenty of big demand in smaller spots, too. The study analyzed the top 50 in-demand vacation rental markets in the country to determine where…
First came historic inflation and elevated interest rates. Then came aggressive tariffs, recession fears, market volatility and a tit-for-tat trade war. For years now, Americans have felt poorly about the U.S. economy — and new data from Bankrate suggests many people aren’t feeling better, even after electing a new administration…
Credit Sesame’s personal finance news roundup June 14, 2025. Stories, news, politics and events impacting personal finance during the past week. Consumer inflation slows to 0.1% in May 2025Producer prices edge higher after two-month declineTariff concerns lead businesses to pause spending and hiringConsumer outlook improves as inflation fears easeStudy links…
Last weekend, I was out for drinks with my brother and we got into an argument about who was going to pay the tab. I wish I could say it was because we’re both so generous. Quite the opposite: We both wanted the points. Whoever didn’t pay that night was going…
If you’re worried about owing gift taxes if you give money or property away, keep this in mind: Very few taxpayers end up on the hook for this particular tax. There are two reasons why. You can give away up to $19,000 in 2025 (it was $18,000 in 2024) per…
kate_sept2004/GettyImages Key takeaways The sales tax deduction is one piece of the SALT, or state and local taxes, deduction. You must itemize to claim it, and you must choose between claiming sales taxes or state and local income taxes. In addition to sales or income tax, you can also claim…
Key takeaways Capital One was approved to merge with Discover in a $35.3 billion deal. The merger could make Capital One less reliant on the Visa and Mastercard networks and potentially make Discover more competitive with American Express, Visa and Mastercard. Despite the merger, both issuers continue to offer competitive…
GaudiLab/Shutterstock.com Young adults, whether entering the workforce, in college or newly graduated, are entering a new season of earning income, managing finances and making money choices. An important step in the process is credit-building. Having a good credit score opens up opportunities for better housing, lower interest rates and approval…
PeopleImages/Getty Images Key takeaways By refinancing an FHA loan to a conventional loan, you could lower your interest rate and eliminate mortgage insurance payments. To qualify for a conventional refinance, you’ll need a minimum 620 credit score and a maximum debt-to-income ratio of 45 percent. Keep in mind that refinancing…
Key takeaways IHG One Rewards points are worth approximately 0.7 cents per point, per our recent valuations. However, members may get more or less value for their rewards depending on how they redeem them. There are several ways to maximize IHG One Rewards points for more value, including being flexible…
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