For many retirees, the biggest financial fear isn’t a market crash — it’s running out of money. One way to lock in predictable income for life — and avoid the nightmare of running out of money in retirement — is with an income annuity. You hand over a lump sum…
Key takeaways An auto loan allows you to purchase a vehicle without paying cash upfront. You’ll pay a fixed amount toward the principal and interest for a predetermined number of months. You can use dealer financing to purchase a vehicle or arrange auto loan financing through a bank, credit union…
Viorel Kurnosov/Getty Images Key takeaways Bank account bonuses typically range from $50 to $500, with some premium offers reaching $1,000 or more for business accounts. Most bonuses require meeting specific criteria like minimum deposits, direct deposits or debit card purchases Bankrate tracks the best current bank account bonuses, updated regularly…
Key takeaways The unbanked have no relationship with traditional financial institutions, while the underbanked use banks but rely heavily on alternative financial services. 4.2% of U.S. households are unbanked and 14.2% are underbanked, according to the FDIC’s 2023 survey. High fees, minimum balance requirements and lack of trust are the…
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New York startup Casap has raised $25 million in new funding to help banks tackle the thorny problem of credit…
Many people in economics, finance, business, and regular consumer life have been waiting for the forecast inflation, the tariff shock,…
President Trump’s 2026 budget would freeze spending for many services for older adults, deeply cut others, continue his efforts to…
The Trump administration is clamping down on federal student loan defaults; at the same time, Republican lawmakers in Congress just…
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Key takeaways It’s a good idea to have more than one credit card, but applying for multiple cards within a short period of time could hurt your credit score. If you apply for too many credit cards within a brief period, issuers might see you…
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Key takeaways It may be difficult to obtain a new loan after you enter a debt management plan, especially if you have recently…
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OBSERVATIONS FROM THE FINTECH SNARK TANK In 2022, President Biden signed an executive order directing the government to develop a framework for digital…
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Key takeaways If you’re living with a disability, you can list your Social Security Disability Insurance (SSDI) or Supplemental Security Insurance (SSI) as income on your mortgage applications. This makes it easier to meet a lender’s income requirements and qualify for a mortgage — even if you aren’t receiving employment…
Key takeaways When you agree to purchase a home, one of the first steps you’ll likely need to check off the list is putting earnest money in escrow — a signal to the seller that you’re committed to getting the deal done. A third party will control the escrow account,…
Oscar Wong/GettyImages; Illustration by Hunter Newton/Bankrate Speak to any rental car company employee before renting a car, and you’ll surely be asked if you want to purchase extra insurance. But at $15 to $30 a day (typically), buying this additional coverage is like paying $5,000 to $11,000 a year to…
Key takeaways Cash back credit cards make sense when you want to earn simple rewards for each dollar you spend. A points or miles card may be a better option if you travel often and want to earn rewards for travel on your purchases. If neither option is the perfect…
If you earn income from rental properties, royalties, partnerships, S corporations, estates or trusts, you’ll likely need to submit Schedule E with your tax return. This supplemental federal income tax form, officially titled “Supplemental Income and Loss,” is where you report income beyond your regular wages or salary. Because of…
Social Security is a key source of income for many retirees. With that in mind, it’s useful to know what the average Social Security check may be at age 63 so you can better plan for retirement. It’s also important to understand that while you can begin collecting Social Security…
Key takeaways Homestead exemptions offer exceptions to financial claims on your primary residence. Homeowners filing for bankruptcy may be able to use a homestead exemption to shield the home’s equity from creditors. Similarly, homestead tax exemptions can help reduce the amount of property taxes owed on the home. As the…
Key takeaways You can deduct traditional IRA CD contributions from your taxes if your income falls within certain limits. For 2025, a single person with a workplace retirement plan can deduct contributions if they earn between $79,000-$89,000. IRA CDs offer guaranteed returns plus tax benefits, but they often won’t…
Cross-border tax planning between Canada and the U.S. will require you to manage income, assets and residency to avoid double taxation and meet rules in both countries. Key differences in retirement accounts, capital gains and estate taxes can create issues without careful planning. Tax treaties help, but dual filers and…
Photography by Getty Images; Illustration by Bankrate Key takeaways After you buy a new car, your insurer may offer a grace period lasting seven to 30 days for switching your car insurance. If your insurer doesn’t have a grace period, you must add your new car to your policy before…
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