Key takeaways A reverse mortgage allows homeowners who are 55 and older to tap their home’s equity for tax-free payments. The most common type of reverse mortgage is a Home Equity Conversion Mortgage (HECM), which is available to borrowers 62 and older. Reverse mortgages can be complicated; ask a financial…
In a world that operates 24/7, we want to simplify our lives as much as possible. One way to do that is to use automated payments for credit cards, gym memberships, streaming services, rent and mortgage, subscriptions and more. However, the more automated payments we create, the harder it can…
Key takeaways Voluntary life insurance is an optional group life insurance policy offered by select employers, usually at a discounted rate. It may be a beneficial option for people with chronic health conditions or those who have been rejected by private life insurance companies. Most employers offer voluntary term life…
MartinPrescott/Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways Making extra payments or picking up a side job are effective ways to pay off a personal loan faster. Tightening your budget or refinancing your loan can also help with early payoff. Check for any penalties or fees for paying off a…
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TomoCredit, a five-year-old San Francisco startup that claims it boosts consumers’ credit scores, is facing a growing number of problems,…
This founder built his brand on a simple idea: Forget about changing the world. Get rich doing mundane and even…
The 2024 presidential election has ended, and Donald Trump is poised to retake the White House, with big implications for…
Voters in Washington State have decided to keep the state’s first-in-the-nation public long term care insurance program. On Tuesday, they…
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Retirement plans for the self-employed range from the good to the outrageously good, and can allow you to save much more than you ever could with a traditional employer plan. A well-chosen retirement plan can allow entrepreneurs and the self-employed to bankroll a bright retirement.…
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Key takeaways A lien serves as an official notice that you owe a creditor for unpaid property. If you do not pay, the…
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With interest rates easing and inflation cooling, small businesses are getting a much-needed break. A change to the Small Business Administration’s (SBA) refinancing…
Credit Cards
Key takeaways Actively using a credit card responsibly can help improve your credit score over time. Using your credit card like a debit…
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Electrical infrastructure stocks like Powell Industries and IES Holdings have been on a tear, leading Forbes’ ranking of mid-sized companies. Right behind are names like Abercrombie & Fitch, Dutch Bros, Sweetgreen and Shake Shack. By Hank Tucker, Forbes Staff The growing appreciation of artificial intelligence and anything related to it…
Key takeaways Chase, American Express, Capital One and other major issuers allow you to redeem rewards for travel through their rewards portals. The best credit card travel portals can help you get stronger value from your rewards and earn boosted rewards on bookings. But your card’s portal may not offer…
Key takeaways The Beneficial Ownership Information (BOI) report identifies company ownership and is required filing for business entities by Jan. 1, 2025. Businesses can file the report online through FinCEN’s official page. While ongoing litigation that has halted enforcement of the reporting requirements, businesses may still file their BOI report…
The Fed is expected to cut interest rates again. What comes next is the biggest question. There’s a phrase that we Federal Reserve reporters use so much when describing Fed meetings that it might as well be a central banking cliche at this point: What matters most isn’t today’s interest…
Your mother might have had a Christmas club account. You might remember her faithfully depositing $5 or $10 a week all year long to save up for the holidays. This simple method of saving reached its height of popularity in the 1970s. But some people believe they’re still useful for…
Donald Trump will be assuming the office of U.S. president on Jan. 20, 2025, and his return to the role could usher in a wide variety of economic changes. Trump has promised to lower taxes, reduce inflation and raise tariffs on America’s key trading partners. While many of his plans…
Image by GettyImages; Illustration by Bankrate Key takeaways Rates for seniors tend to increase after age 70, but shopping around and taking advantage of discounts may help you save. On average, 70-year-old drivers pay $2,385 per year for full coverage car insurance and $711 for minimum coverage. Senior car insurance…
As the end of the year approaches, now’s the time to start preparing for filing your 2024 tax return in 2025. When it comes to tax strategies, generally Dec. 31 is the deadline to make changes that might lower your tax bill. One major exception is the deadline for contributing…
Key takeaways Rewards credit cards vary in many ways, from the types of rewards they offer — such as points, miles or cash back — to the way those rewards are structured. To take advantage of your credit card rewards, familiarize yourself with each card’s structure, meet the…
Key takeaways Credit card companies generate most of their income through interest charges, cardholder fees and transaction fees paid by businesses that accept credit cards. Even if you don’t pay fees or interest, using your credit card generates income for your issuer thanks to interchange — or swipe — fees.…
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