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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Key takeaways Though 529 plans offer the benefit of tax-free gains, they have some drawbacks. Investment options can be limited, and the fees can be high. While you have some flexibility in using unneeded funds, you risk a penalty on non-educational withdrawals. Americans have been slow to embrace 529 college…
Key takeaways Home improvement loans provide homeowners with quick funding and flexible repayment options. The best home improvement loan rates are reserved for borrowers with good or excellent credit, while rates for borrowers with bad credit can be high. Home improvement loans can build your credit and increase the value…
Key takeaways Personal loans are best for one-time, fixed expenses, while personal lines of credit are best for ongoing financing needs or purchases that require flexibility. Both options offer lower average interest rates than credit cards for borrowers with good credit. Repayment terms depend on how much you borrow and…
Key takeaways When you leave or lose a job, it’s important to remember your 401(k). Options may include rolling it into an IRA or a new employer’s retirement plan. Cashing out your 401(k) could leave you with penalties and taxes on your distribution. Many Americans will, at some point, face…
Key takeaways Growth ETFs may generate better long-term results, but they also carry more risk. Value ETFs are less risky and may perform better in unstable markets, but come with less potential to grow. It is important to determine your financial goals and risk tolerance when evaluating which ETF style…
Key takeaways While the Discover it® Student Cash Back and Discover it® Student Chrome are similar, they offer different rewards structures that appeal to different types of cardholders. The Discover it Student Cash Back card offers a higher cash back rate on rotating bonus spending categories. The Discover it Student…
A covered call is an options trading strategy that offers limited return for limited risk. A covered call involves selling a call option on a stock that you already own. By owning the stock, you’re “covered” (that is, protected) if the stock rises and the call option expires in the…
Texas is the top state for domestic in-migration in 2024. While hundreds of thousands of Texas residents moved out of the state, even more people moved in from other states — about 85,000 net new domestic movers, according to U.S. Census data. Texas is clearly a popular destination, so why…
Image by GettyImages; illustration by Bankrate There are two main ways to use tax deductions to lower your tax bill: either claim the standard deduction or itemize your deductions, which means add up a list of your qualified expenses. Then you subtract t hat amount — either the standard deduction…
Key takeaways You can get home equity loans on investment and rental properties, though they may be harder to obtain. To get this type of loan, you’ll usually need a stronger-than-average financial profile and substantial assets. A rental or investment property home equity loan could come with tax benefits, depending…
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