People with low credit scores may get a bad reputation for being irresponsible with money, but there’s at least one way some are making practical choices this summer. People who have credit scores lower than “prime” — those with scores below 700, according to the frequently-used Fair Isaac Corporation (FICO) scale — are 29% less […]
Nearly half of all Americans with an account at a financial institution hold that account at a credit union. Many who don’t (and some who do) are not entirely clear on how credit unions differ from banks. Here is a quick primer. The history of banking traces back 4,000 years to Mesopotamia. The 18th century […]
For many, retirement presents and opportunity for relaxation. But for the majority of Americans that retirement will likely be put off for longer than they expected, a new study finds. Three of five Americans are “very likely” to work about two years longer than planned in order to meet their personal retirement goals, according to […]
Taxes are a fact of life, even in retirement. How much you will be required to pay could have an effect on your lifestyle during this phase of your life. Whether you’re just beginning this new chapter or are already in retirement, it’s important to understand the potential tax impacts as you move through the […]
Embrace Your Low-Risk Options When it comes to short term savings, you’re going to want to stash them somewhere that’s low risk and easily accessible—a big tax headache or added fees when you’re in the process of buying a home (or boat) is the last thing you want. That said, Michael Ciccone, a New Jersey-based […]
Most people want more money. More money is better than less money, right? That is the conventional wisdom. But there are lots of people who really aren’t interested in more money, unless perhaps you just gave it to them unconditionally. What I mean is that most people want more money, but aren’t willing to do what […]
When we talk about how to retire early, and how much we need to save, we often only talk about how much our own needs and wants will cost. But of course that’s an incomplete answer. For nearly all of us, there are other people in our lives who may need to factor into our […]
No one can say millennials aren’t optimistic. Even with the uncertainty that surrounds stock markets today, millennials think retiring by age 61 remains a realistic possibility, according to a new Bankrate survey. However, older generations are not as confident as the youth of America. Half of the baby boomer population thinks it’s best to retire […]
Is your home a worse investment than you think? That’s what this article argues by pointing out all the expenses that reduce the return on homeownership. After subtracting mortgage payments, home upkeep, closing costs, a real estate agent’s commission, and the cost of remodeling and adding a patio to maintain average home size, the author […]
Thinking about starting a new business? Running your own company is rewarding, but there are challenges. Perhaps not surprisingly, some of the biggest hurdles come when you’re a first-time entrepreneur just getting your company off the ground. New business owners need to build all of their processes from scratch while complying with myriad rules. If […]
With the average 30-year fixed mortgage rate now climbing over 4.7 percent, it’s no surprise that many homeowners are looking for ways to pay their mortgage off early — and save themselves thousands of dollars in the process. There are several ways to go about this. Below, I’ll highlight each of them and explain when […]
There are a lot of great personal finance books out there to choose from but only some that can change the way you think. Below, CNBC Make It rounded up three money-related reads that come highly recommended from self-made millionaires, early retirees and super savers because these books were able to help reshape their mindsets about how to spend […]
