Is Having a Credit Card Important?
Most folks will tell you “Yes. You do need a credit card.” According to Experian, the average consumer in 2017 owned 3.1 credit cards. Although the general consensus is to own at least one credit card, this isn’t necessarily true for everyone. Perks of owning a credit card People tend to look at credit cards […]
Mutual Funds: Do They Pay Dividends or Interest?
There are scenarios where mutual funds pay dividends or interest depending on the portfolio. Different Mutual Fund Types Mutual funds can be broken down into 4 general categories, and each of these categories correlates to a different goal for your investments. These categories are: Stock funds – These accounts for investments made in the stock […]
Creating Your Budget
Although setting up a budget can seem intimidating, the process can be quite easy. The tricky part is sticking to it. Follow these steps to get your budget up and running. Figure Out Your Monthly Income Before you do anything else, you need to know how much money you have to work with each month. […]
Establishing Your Nest Egg
Relying on Social Security as a senior is pretty common these days. However, the benefits of Social Security are not always enough to accommodate those who don’t have any additional income. A nest egg is a form of savings that is generated during a person’s working years. This money is then utilized once they retire […]
Renting or Buying a House
The decision whether to buy or rent a home is one of the toughest decisions one will make in their life. And despite what many real estate professionals will tell you, there are actually pros and cons to both buying and renting. The truth is, the right answer varies from person to person, and it […]
The Differences Between Credit Cards & Debit Cards
It’s easy to see why so many people have a hard time distinguishing the difference between credit cards and debit cards. After all, they look almost identical — plastic, expiration dates, 16-digit numbers across the front, and they are used to make financial transactions. But the key difference between these 2 lies in the way […]
Key Points About Medicare
What is Medicare? Medicare is a U.S. government health insurance program that is reserved for adults age 65 and older. Medicare doesn’t cover everything though, and it’s important to plan how you’re may handle some of those coverage gaps. Getting a basic grasp of Medicare will help you understand the types of coverage you are […]
All About Child Life Insurance
Despite what you might hear in those Gerber baby commercials, life insurance for children is seldom recommended. The primary purpose of life insurance is financial protection, and unless they are claiming you as a dependent, there isn’t much reason to purchase life insurance for them. Though it is true that life insurance rates climb as […]
Why Should I Refinance My Mortgage?
If you’re a home owner with an existing mortgage, you’ve probably heard people tell you about the benefits of refinancing your loan. And while refinancing can be extremely beneficial, it’s not always the best idea for everyone. Knowing the benefits to refinancing can help you make the decision if it is the right option for […]
What is a 401(k)?
401(k)s are a type of savings plan designed to help folks receive tax breaks on money saved for retirement. These plans are typically offered to employees by employers. 401(k)s are a great option for retirement savings because deposits can be setup to automatically take place when your paycheck is cleared. The type of tax break […]
What is the IRS?
IRS stands for Internal Revenue Service. It is an agency within the United States government that handles tax collection. In addition to individual taxes, the IRS also deals with estate, corporate, and gift taxes. This includes both dividends and mutual funds. How Does the IRS Operate? The IRS is located in Washington, D.C. and is […]
Finding the Best Student Loan Repayment Plan
Although there is a plethora of options for repaying student loans, the most common are standard repayment, and income-driven repayment plans. Your decision on which plan to get should depend on what your long-term goals are: Paying the least amount of interest: standard plan Lowest possible payments: income-driven plan Qualifying for student loan forgiveness: income-driven […]
Will I Have Enough Money to Retire?
Will I Have Enough Money to Retire? Statistics from Schwab Retirement Plan Services show that many folks enrolled in a 401(k) plan may not being doing as well as they expect. Perhaps these participants are unaware of how much they should be saving or when they should be saving it. The Difference Between Saving and […]