Certificates are a type of savings account in which you deposit a specific amount of money for a certain amount of time. They are a great option to explore when considering medium or long-term savings goals.
One of the key things to consider when planning your finances is timing. How soon you’ll need the money for a goal—whether over a few months or several decades— should shape how you save or invest.
Are you planning for retirement? It may not seem urgent if you're young, but the earlier you start, the better prepared you'll be. Early planning allows you to harness the power of compound interest, where your investments grow exponentially over time.
Do you know the 60/20/20 rule for budgeting? How much you should have in your emergency fund? Or why you should keep your credit card utilization at 30% of your limit? Many Americans are unfamiliar with these financial basics. If you’re new to these rules or just want a quick refresher, read on. In this blog, we’ll give you the tools to build your financial knowledge, from short-term savings to retirement planning.
It’s easy to put off certain financial tasks, whether they be paying a specific bill, creating an emergency fund, or writing a will. The simple truth is that nothing good can come from procrastinating on these items. A late bill incurs interest, and you unfortunately never know when a will or emergency fund will be needed. Read on to learn what should be a part of your financial journey, and the steps you can take to accomplish these tasks.
Your retirement years are too important to leave to chance. Whether retirement is right around the corner or decades away, it’s good to be prepared. As you look ahead, look out for these all-too-common retirement planning pitfalls.
A certificate or money market account (MMA) from your local credit union can be a smart, safe way to grow your money faster – and reach your savings goals sooner. Unlike stocks, both account options are federally insured, and they often pay much higher dividends than typical savings accounts. Certificates and MMAs are both good options, but they have some key difference you should know about when deciding which to choose.
When it comes to estate planning, you may be more familiar with the concept of a will versus a trust, but there are several reasons that trusts could benefit you and your loved ones in estate planning. Establishing a trust gives you control over how your wealth will be protected and, ultimately, transferred to your beneficiaries. Many types of trusts are available. The benefits of each vary by type, and each may be treated differently from state to state.
Whether you’re a few years or a few decades away from retirement, you want to make sure you can live comfortably when you do retire. First enacted in the 1930s, America’s Social Security program protects people against the loss of earnings due to retirement, death, or disability. But Social Security was meant to be a foundational element of planning for retirement, not the only source of income after retirement. Here are five important facts about the program.
If you’ve gotten married in the past year, or you’re getting married soon, taxes may be the last thing on your mind. These tips can make your transition from single to married tax filing status go smoothly.
This Saint Patrick’s Day, you might be hoping to find your very own pot of gold at the end of a rainbow. Maybe you’re wondering how gold got to be such a hot commodity in the first place.
In this post, we’ll share 10 fascinating facts about this most famous of precious metals, including some tips for those who are curious about gold as an investment.
Retirement is the long-awaited reward after a life of hard work—a time to devote to yourself, your loved ones, and your dreams. An individual retirement account can be an essential tool in your retirement savings strategy, helping ensure your finances can support you throughout your golden years.
It’s no secret that interest rates on everything from auto loans to home loans have risen significantly over the past year. But there’s a bright side to rising rates: Savings accounts have also increased their interest rates, making it easier to grow your savings.
Whether you’re stashing cash to boost your emergency fund, buy a new car, or save for a down payment on a house, consider opening a high-yield savings account. It’s an excellent option for anyone looking to stay ahead of inflation and watch their money grow effortlessly.
Want your savings to earn more than they would in a traditional savings account, without taking on risk? Then you may want to look into opening a certificate. If you do your banking at a credit union, you may also know them as share certificates, or as certificates of deposit (CDs) at a bank.
You’ve probably heard about people making money and hitting it big in the stock market. Some are traders and some are investors. That might sound like the same thing, but the differences between the two are glaring. In this article, we’ll examine each and show you how to trade and invest wisely.
A growing family, by definition, means growing financial obligations—both present and in the future. Raising children can increase your insurance needs and heightens the urgency for being properly prepared.
As every parent knows, juggling is part of the job. When it comes to financial matters, though, knowing which ball to keep airborne is not always clear. Case in point: Should you prioritize saving for retirement or for your child's college education?
Financial planning is similar to parenting in that the decisions are complex and not always straightforward. While the best choice for you will depend upon your unique situation and needs, a few general considerations can help you create an informed strategy.
If it sounds too good to be true, it probably is. If someone asks you to invest and promises impossible returns on your money, such as guaranteeing that your money will be doubled or tripled with no risk, it’s probably a Ponzi scheme.
Knowing how to recognize different types of fraud is a key component to financial literacy. There are many types of investment scams, but one of the most famous is known as the Ponzi scheme.
When it comes to saving, the way you choose to save will greatly influence your return on investment. Aggressive options may have the highest yield while posing the greatest risk of loss, where conservative saving options offer a slower, but risk-free return.
When should you start thinking about your estate plan? According to many experts, the answer is as soon as you’re an adult. However, only 1 out of 3 adults has taken care of estate planning essentials like creating a will. If you’re not one of them, it’s time to start thinking about your estate plan.
