Market conditions are pressuring the 4% rule, a popular rule of thumb for retirees to determine how much money they can live on each year without fear of running out later. Withdrawing money from one’s nest egg is among the most complex financial exercises for households. There are many unknowns — the length of retirement, […]
When preparing for retirement, it’s crucial to consider how your spending habits will change as a senior. This will enable you to make a more accurate assessment of how large your nest egg needs to be. Unfortunately, far too many future retirees end up underestimating how much they’ll need for one of their largest expenses […]
You’ll often hear that it’s difficult, if not impossible, to retire on Social Security alone. But if you’re in line for the maximum monthly benefit, you might manage to do a decent job of covering your bills. This year, the maximum monthly Social Security payday comes out to an impressive $3,895. And while most seniors […]
It is pretty challenging to take out a loan on reasonable terms when you have bad credit. It’s because lending money to people with bad credit is considered a risk on the lender’s part. But there is still a way to get the funds you need, even with your current credit status. Bad Credit and […]
Back in October, refinance lenders saw less activity as higher mortgage rates stopped existing borrowers from trading in their home loans for new ones. But last week, refinance demand rose 7% from the previous week, according to the Mortgage Bankers Association. That’s probably due to the fact that mortgage rates dipped back down after rising […]
When it comes to protecting your financial future, you want to make sure you are getting it right. Yet figuring out how to invest, how much to set aside each year and how much cash you should have may leave you confused. Add in concerns about inflation and market volatility, and you may not want […]
If you plan properly, you may be able to boost your Social Security retirement benefits. And newly redesigned benefit statements from the Social Security Administration may help you do exactly that. That goes for workers of all ages who contribute to the program — from 18 to 70 and up. The statements can be accessed online […]
We all incur medical costs at one point or another. It may be simple purchases like bandages, or larger expenses like corrective eye surgery. For many Americans, paying out of pocket or running it through their insurance may be their primary method of paying. However, there is a way to save on some of these […]
Your credit score is one of the most important factors lenders consider when you apply for a mortgage. Typically, the higher your score, the lower the interest rates you’ll qualify for. Before you look at houses, it’s smart to check your credit score and pull your credit reports from the three major credit agencies. Addressing credit issues early on […]
In the course of planning for retirement, you may come across misinformation that leads you to make poor decisions. There are a lot of dangerous myths circulating about retirement, but these four in particular could really set you up for disaster during your seniors years. 1. You can get by on Social Security alone Many […]
As of 2021, car insurance in Maryland can cost an average of $760per year for state minimum liability. Full coverage costs even more. So how are Maryland residents supposed to save money on their car insurance? Read on to learn how to find the best car insurance in your area and save money. Compare quotes. The first thing to […]
Many workers look forward to escaping the demands of the working world as soon as they’re able to. But whether you’re a Financial Independence, Retire Early (FIRE) proponent or someone just looking to retire a bit early at age 62, you’ll need to prepare for your years in retirement. And that means carefully considering more than just […]
