Image: Getty Images; Illustration: Bankrate HELOC rates are feeling the impact of the Federal Reserve’s recent quarter-point rate cut. The $30,000 home equity line of credit fell 18 basis points to 7.63%, its lowest level in almost three years, according to Bankrate’s national survey of lenders. Meanwhile, the benchmark five-year…
Key takeaways Buying a new car allows for customization and the latest technology, but it comes at a higher price and loses value quickly. Used cars are less expensive and slower to depreciate, but may require compromises and can come with higher maintenance costs. When deciding between new and used,…
Most drivers only interact with a rental car on vacations or time away — and for many, they can also be a means to getting a vehicle of their own. While rental cars go through many drivers, they also typically have thorough maintenance records and a low price tag. But…
Key takeaways Texas has the highest car loan balance of $7,920. While vehicle expenses vary across the country, drivers can still work to secure a competitive rate by improving their credit and comparing different lenders. Vehicle affordability is still a challenge for many drivers and has resulted in more auto…
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The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
Historically Black colleges and universities are on the frontlines of the One Big Beautiful Bill Act’s new limits on parent…
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…
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Key takeaways Your required minimum distribution (RMD) amount changes each year based on the IRS’s life expectancy calculation for your age. You calculate your RMD by dividing your year-end account value by the estimated remaining years in your lifetime, as per an IRS table. If…
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What Is the 4 Gift Rule for Christmas? A Financial Safety Net What the 4-gift rule for Christmas provides is a simple guide…
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OBSERVATIONS FROM THE FINTECH SNARK TANKBankers wants to discuss AI strategy. They’re excited about chatbots, machine learning models, generative AI tools, and AI…
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Jordan Perkins, 36, could be a homeowner, but for now, he chooses to rent. He earns a comfortable salary from his sales job and is close to a seven-figure net worth — the product of an aggressive savings strategy he’s had since his late 20s. It just makes more sense…
Jeremy Nunes calls it the “money pit.” The three-bedroom, ranch-style home in central Illinois looked like a dream when Nunes and his wife purchased it in 2017, needing what appeared to be little more than a $10,000 bathroom remodel to be perfect. Then came the unexpected. A cascade of problems…
What’s worse: a weak job market or stubborn inflation? Most people would say they don’t want either. Rising prices make it harder to afford the things you need, even when you’re working. A weak job market makes it tougher to ask for a raise, find a better position or land…
A health savings account (HSA) can support your retirement plan through tax-deductible contributions, tax-free growth and tax-free withdrawals for qualified medical expenses. But not all insurance premiums qualify, so it’s important to know which costs you can and cannot cover with HSA funds. A financial advisor can help you review…
An inherited non-qualified stretch annuity pays out over many years instead of all at once. Only the earnings in each payment are taxable because the original contributions were made with after-tax dollars. Spreading payments over time can lower the yearly tax bill and keep the remaining balance growing tax-deferred. Distribution…
Joe Raedle / Getty Images Key takeaways TSA PreCheck is a trusted traveler program offering expedited airport screening to members. Memberships for TSA PreCheck start at $77 and are good for five years. Several credit cards can help you get TSA PreCheck for free, usually through a statement credit toward…
When comparing Medicare and Affordable Care Act (ACA or Obamacare) coverage, it helps to look at how each program works, who qualifies and what the costs may be. Medicare is a federal program for people age 65 and older and certain individuals with disabilities. The ACA provides access to private…
This year has been the year of the luxury credit card. The Chase Sapphire Reserve® and American Express Platinum Card® both added new perks in exchange for higher annual fees (now $795 and $895, respectively). And Citi re-entered the high-end credit card market with the debut of the Citi Strata Elite℠ Card (annual…
You can make a Roth IRA conversion at any time, as long as you have money in a qualifying pre-tax account. But the real question is whether it benefits you. Converting in your 60s, for example, can help you avoid required minimum distributions (RMDs) and future taxes on qualified withdrawals.…
First comes love. Then comes marriage. And for around 670,000 couples per year, then comes divorce. While you’re thinking about the holiday season that’s off and running, the nation’s divorce attorneys are already looking ahead to another kind of season: divorce season. Sadly, if not surprisingly, filings tend to go…
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