“Mortgage amortization” is a complex-sounding phrase that describes a simple process: paying off your home with a fixed monthly payment over time. You can make better financial decisions by understanding how amortization and your mortgage work together. What is mortgage amortization? Mortgage amortization refers to paying a mortgage in regular, fixed installments over time. Your […]
If you need financial help to build your dream home from scratch or even just to remodel your bathroom, an FHA construction loan can help. FHA loans are geared toward people with relatively low credit scores and down payment savings, making FHA construction loans great options for first-time home buyers who want to build a […]
The U.S. Federal Reserve’s latest interest rate cut of a quarter percentage point lowered the benchmark federal funds rate to a range of 3.5%-3.75% in mid-December. This move continues to spark optimism among market participants, as valuations of most risk assets are directly tied to the risk-free rate, at least when it comes to modeling […]
You might think you already know all you need to know about how your 401(k) works. After all, the premise of such accounts is fairly straightforward: You elect to contribute a percentage of each of your paychecks, and that money gets invested in the funds you’ve chosen. You get to write off your contributions on […]
The Federal Reserve cut short-term interest rates by a quarter point on Wednesday for the third time this year. However, the bond market is more influenced by what the Fed says than by its actions. Following the Fed meeting, Chair Jerome Powell’s press conference and the Federal Open Market Committee’s dot plot provided indicators of […]
The Federal Reserve lowered its benchmark interest rate by 25 basis points, or 0.25%, to a range of 3.50% to 3.75% on Dec. 10. This was the third rate reduction of 2025. The cut was expected by investors based on labor and inflation data as well as public comments made by Fed decision-makers in the […]
If you’re short on cash, you may be interested in how to get cash from a credit card. After all, some of life’s most important expenses — like rent — often can’t be paid with a credit card. Taking out a cash advance is an easy way to instantly “liquidate” a portion of your credit, […]
As year-end approaches, many investors still need to take required withdrawals from retirement accounts — or face an IRS penalty of up to 25%. This includes retirees and certain heirs with an inherited individual retirement account. At age 73, most retirees must start required minimum distributions, or RMDs, from pretax accounts. Your first RMD is […]
Direct File — the short-lived, free IRS tax-filing tool — is officially over, shut down less than two years after launch amid shifting priorities in Washington. During its brief run, Direct File gave taxpayers a streamlined, no-upsell way to file their federal taxes for free. Close to 300,000 taxpayers across 25 states used it in […]
Knowing how the Federal Reserve’s monetary policy decisions impact your interest earnings over time is key to making an informed decision about where to put your money. With another potential rate cut this week, a certificate of deposit (CD) may be the best option. CDs can be a smart way to guarantee steady returns, especially […]
The president won’t have his wishes fulfilled next year regarding Social Security. However, some retirees will notice one change they may appreciate. Donald Trump didn’t talk a lot about Social Security when he campaigned for president last year. Since taking office for his second presidential term in January 2025, Trump hasn’t made Social Security a […]
As 2025 winds down, many financial advisors are preparing for 2026, which will bring key changes to saving for retirement in 401(k) plans. Among those shifts are contribution limit updates and a major tax change for certain investors, which could affect long-term planning. “The most impactful change for next year will be to high earners,” […]
