Fintech startup Revolut has rolled out a handful of additional features over the past few days. The financial app lets you track all your subscriptions that you pay with your Revolut account or your card. In the U.S., Revolut is adding a savings bonus based on your purchasing habits. Finally, business customers can now order metal cards. Let’s start with subscription tracking. […]
Social Security generally won’t pay you enough money to retire comfortably. To achieve that goal, you’ll need personal savings to supplement those benefits. You may decide that a 401(k) plan is the best place to house your savings. With a 401(k), contributions are easy. You simply sign up for your employer’s plan, indicate how much money you want […]
The closing costs associated with a mortgage refinance can typically be 2 percent to 5 percent of your loan amount. However, it’s possible to wrap these expenses into your new loan with a no-closing-cost refinance. What is a no-closing-cost refinance? In a typical refinance, a borrower brings a check to the closing table to cover […]
401(k) plans for retirement and 529 plans for college savings share some broad characteristics: Put money in today, get a tax deduction, and allow funds to grow tax-deferred for a specified purpose in the future. Still, those who benefit most from 529 plans are those who have taken the initiative to read the details and […]
Most people know that it’s a good idea to have savings, but knowing how much to save can be a challenge. Regardless of how much you earn, it’s important to put away cash for emergencies and any short-term goals. In addition, you may want to keep some cash in your long-term investment portfolio. Katie Brewer, […]
Now that people are spending more time at home, they may be using more power than they would have pre-pandemic. As employees move to remote work and schools shift classes online, an increase in electricity usage is unavoidable for many. That said, TSA has a tip for saving costs where you can. How to Create a Family Budget It all […]
Q. We are trying to figure out the safest, smartest way to lower debts in retirement. My husband had two unexpected surgeries last year and he stopped working. He took Social Security early but now he is back at work. We owe $119,000 on our mortgage and $100,000 in parent college loans. We have $580,000 […]
Financial professionals may be missing opportunities to help clients understand key risks to their retirement security in these challenging times, according to a study by Allianz Life Insurance Co. These include longevity risk, behavioral risk, market risk and inflation risk. The study identified several common risks and the opportunities they present for financial professionals to […]
No matter how close or far away retirement is right now, it’s crucial to be socking some money away in your retirement fund. The unfortunate truth, though, is that saving is tough, and there are probably dozens of ways you’d rather spend your money. But the good news is that sometimes it’s easier than you […]
When you’re doing your retirement planning, it’s easy to ignore one vital topic: How much taxes will I owe on my retirement income? Frankly, it’s a hornet’s nest. But the topic of taxes and your retirement income is vitally important for your retirement planning. Anqi Chen and Alicia H. Munnell of the Center for Retirement Research at […]
Is maxing out your 401(k) enough? When saving for retirement, you’ll want to find out what level of income your current contributions could provide down the road. For some investors, saving diligently during their working years will be enough to provide the lifestyle they want in retirement. But for others, particularly high earners, only saving […]
The age at which most people start to receive the state pension has now officially hit 66 after steady rises in the qualifying age in recent years. Men and women born between 6 October, 1954, and 5 April, 1960, will start receiving their pension on their 66th birthday. For those born after that, there will […]
