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…
A solid investment strategy gives you focus, clarity and direction—and you need all three to become a successful investor. You need to have an investment strategy that’s going to help turn your retirement dreams into a reality. Get expert money advice to reach your money goals faster! Your investment strategy…
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…
So you’re thinking about buying a timeshare. Hey, we get it! It’s your dream vacation spot, and you can enjoy all the benefits of a vacation home, without the hassle of owning one. It’ll be great! Yeah, right. That’s what timeshare companies want you to believe, but it’s a far…
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So you’re dreaming of moving to New York—home of the Statue of Liberty, Times Square and Central Park. The Big Apple tends to get all of the attention, but there’s plenty more to love all throughout the Empire State—like seeing Niagara Falls, boating across 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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Image by GettyImages; Illustration by Bankrate A split decision for home equity rates, as the Federal Reserve delivered an expected quarter-point interest rate cut, the first rate reduction this year. The average rate on a $30,000 home equity line of credit fell five basis points to 8.05 percent, according to…
You’re not alone if thinking about life insurance doesn’t fall high on your list of fun things to do. But part of the “fun” of being an adult means handling business every day, right? Right! And besides, once you know a few basic things about how life insurance works and…
Image by PM Images/Getty Images; Illustration by Hunter Newton/Bankrate Mortgage rates fell this week, with the 30-year fixed rate averaging 6.30 percent, compared to 6.38 percent the previous week, according to Bankrate’s latest lender survey. Current mortgage rates Loan type Current 4 weeks ago One year ago 52-week average 52-week…
You’re probably somewhat aware of your personality type: whether you’re an introvert or an extrovert, a control freak or totally laid back. But did you know you have a money personality type too? We each have our own tendencies that make up our money personality as a whole. You may…
We’ve all been there: You step up to the grocery store checkout counter, but when you open your wallet to pay, it’s a mess. The bills are wadded up and out of order, and you’re not sure which money you budgeted for groceries and which is supposed to be for…
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 Federal Reserve decides to do,…
A 403(b) plan is common in public schools, nonprofits and religious groups. It is a defined contribution plan where employees add money to a pre-tax or Roth account. The money is usually invested in mutual funds or annuities. Growth depends on contributions, investment performance, fees and time. Some employers may…
Did you know that when you submit a job application online, it’s probably read and filtered by a robot before a human ever sees it? No, this isn’t Star Wars, folks—just the 21st century job market. And that “robot” is something called an applicant tracking system (ATS). There’s no way…
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…
Some people can walk right into an interview and knock it out of the park without even raising their heart rate. (Wouldn’t we all like to have that kind of confidence?) But if you’re anything like the average job seeker, interviews aren’t exactly high on your list of fun, stress-free…
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