At a time of sticky inflation and a softening job market, extra money in the bank can serve as a lifeline for many consumers. Yet 8 in 10 Americans did not increase their emergency savings this year, a new Bankrate survey found, leaving them in no better financial position to…
While the top ten largest credit unions still hold significantly less in assets than even the top five largest banks, they have been growing considerably in recent years. Just within the last five years, total assets in federally insured credit unions have risen by approximately 45 percent over the past…
Key Takeaways: Transition Challenges: Veterans face unique financial challenges when transitioning from military to civilian life, including employment hurdles, healthcare costs, and housing instability. Employment and Economic Stability: Despite strong leadership skills, veterans often encounter unemployment or underemployment due to skill mismatches. Support from programs like VETS and the GI…
Key takeaways Most unemployment payment delays happen due to missing information, fraud checks, or system backlogs. You can often fix the issue by verifying your ID, submitting missing documentation, or updating your payment profile. While you wait, contact lenders to negotiate temporary relief and use savings accounts or short-term loans…
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The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
Historically Black colleges and universities are on the frontlines of the One Big Beautiful Bill Act’s new limits on parent…
The big new fees JPMorgan Chase is planning to charge some financial technology companies may well trickle down to consumers,…
With artificial intelligence beginning to eat away at many white-collar entry-level jobs, and the unemployment rate for recent college graduates…
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Reaching age 65 doesn’t automatically change how the IRS taxes your 401(k) withdrawals. Instead, it taxes distributions from a traditional 401(k) as ordinary income, just like wages or Social Security benefits. Your tax rate depends on your total taxable income and filing status in the…
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The Downsides of Credit Card Churning and Why It Is Risky You may be asking yourself, “Those benefits sound great, why is credit…
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The fundamental flaws in the way the Federal Reserve operates these days were on full display Wednesday when Jerome Powell talked to the…
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Deciding how much to withdraw from your retirement accounts means finding a balance between enjoying life and making your money last. Taking too little leaves you with unused savings, while taking too much risks running out of money later. Taxes also affect how much you can actually spend. To help…
The Good Brigade/Getty Images If you’re considering opening a certificate of deposit (CD), you might first be thinking about why you want to open one. That, of course, depends on a variety of factors, such as where you’re opening your account, your financial goals and how much money you have.…
When you file your federal income tax return, you have a choice to make: Claim the standard deduction or itemize your deductions. The standard deduction is a dollar amount set by the IRS, while itemizing your deductions means you add up your total costs for a list of IRS-approved expenses,…
Key takeaways There are five different options when it comes to choosing a tax filing status, but your choices are narrowed down by whether you’re married or single, and whether you have a qualifying dependent. Two statuses are for unmarried people: single and head of household. Another two are for…
Photograhy by Getty Images Credit One Bank is a financial services company founded in 1984 based in Las Vegas, Nevada. Credit One Bank offers cash back and points-earning credit cards as well as high-yield CDs and savings accounts. It’s also an official partner of the Las Vegas Raiders, the Vegas…
Images by Getty Images; Illustration by Issiah Davis/Bankrate Key takeaways You’ll need necessary documents — including a government-issued ID, social security number, and proof of address — to open an account. If you’re denied because of your banking history, there are banks and financial technology companies that offer second-chance accounts.…
Images by GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways To afford a $1 million house with a 20 percent down payment and a 6.5 percent mortgage rate, you’ll need about $218,000 in annual income. A common housing-affordability guideline states that you shouldn’t spend more than 28 percent of your monthly…
Many people strive to achieve $1 million in savings before they reach retirement, but the reality is that most Americans struggle to meet that savings threshold. Average retirement account balances for those aged 55–64 averaged about $271,000 at the end of 2024 in plans administered by Vanguard, according to the…
Photography by Getty Images Key takeaways Citi ThankYou Rewards offers flexible redemption options, including transfers to airline and hotel partners. Points transfers typically offer more value than other redemption options, with a 1:1 ratio. It may be beneficial to pair multiple Citi credit cards, such as a no-annual-fee card and…
Credit card debt is the worst, and it can be especially burdensome for older people. Sadly, it’s a common burden. Fifty-two percent of U.S. adults aged 50 to 64 carry a credit card balance month to month, according to a recent AARP survey. Dealing with card debt at this stage…
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