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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Most people who own annuities are middle class. Seventy percent of annuity owners had total annual household incomes under $100,000 with a median annual household income of $79,000, according to The Survey of Owners of Individual Annuity Contracts, conducted by Gallup in 2022, the most recent year available. While many…
Image by GettyImages; Illustration by Bankrate Key takeaways Business credit card rewards are not considered income, which means they are not taxable. Instead, credit card rewards are considered rebates on items you purchased with a credit card. If you’re earning any kind of bonus from a financial institution, and you…
Photography by Getty Images; Illustration by Bankrate Debt avoidance is the habit of refusing to consider or engage with borrowing — even when it may be strategic — due to fear, shame, misinformation or a combination of the three. Avoidance typically is not just a personal preference, it’s often a…
Key takeaways Reduced paid-up life insurance allows you to keep your whole life policy in place with a reduced death benefit if you no longer want to pay the premiums. Reduced paid-up insurance is designed to last until the insured’s death unless the policy is surrendered. Reduced paid-up insurance may…
One advantage of having a home insurance policy is being able to customize your coverage with riders, or endorsements, to your specific needs. If you live in a homeowners association (HOA) community, one endorsement worth considering is loss assessment coverage. It can help cover your share of costs if the…
Key takeaways When you’re just starting out with investing, the thought of getting to your first $100,000 invested can seem daunting. But the power of compound interest means that that first $100,000 will quickly become much more. Understanding the psychological and practical barriers to investing can help you steel yourself…
Key takeaways Online brokers Robinhood and Webull both offer zero-commission trading on stock and ETFs. Neither broker has an account minimum nor offers access to mutual funds, bonds and foreign-exchange trading. Webull may suit investors who want detailed charts and paper trading. Robinhood can be a good fit for more…
Kaewta Suphan/Getty Images Key takeaways The Federal Reserve left interest rates unchanged at its July 30 meeting, signaling that high-yield savings account rates may remain high for some time to come — even if they dip slightly from week to week. Many banks are still offering top-notch yields firmly above…
Dividend stocks are a popular way for investors to generate income, especially retired investors who need reliable cash flow. While most dividends are paid on a quarterly basis, some companies make their payouts monthly, and many investors like the greater frequency, in part because it can help them structure their…
Key takeaways The Delta SkyMiles program helps members earn miles that are redeemable for flights to over 1,000 destinations around the world. As part of Delta’s membership in the SkyTeam airline alliance, SkyMiles can be redeemed for flights on Delta as well as other partner airlines — such as Air…
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