Image by GettyImages; Illustration by Bankrate The resounding advice about filing early for Social Security retirement benefits is pretty unambiguous: Don’t do it. However, if you can’t delay — due to immediate cash flow needs — or don’t want to because you’re worried about the Social Security program’s solvency, the earliest…
Key takeaways Calculating how much debt your business can afford and how much it needs will direct you to the appropriate loan type and lender for your business. Assessing your eligibility based on universal standards like credit score, annual revenue and time in business can also help direct your search…
For many first-generation wealth builders, borrowing money can feel like a deeply personal decision — one shaped not just by credit scores and interest rates, but by cultural values, family expectations and emotional ties. Especially in communities rooted in mutual aid and collective care, there’s often a choice to make:…
Key takeaways Many people — and politicians — blame large investors for buying up available homes and making prices unaffordable for everyday Americans. But studies show that the largest institutional investors operate in only a small handful of U.S. markets. In reality, the majority of the country’s investor-owned homes are…
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President Trump’s 2026 budget would freeze spending for many services for older adults, deeply cut others, continue his efforts to…
The Trump administration is clamping down on federal student loan defaults; at the same time, Republican lawmakers in Congress just…
San Francisco-based Chime, the largest digital bank in America, wants to go public at a price between $24 and $26…
While there has been much conversation on not buying from companies with poor diversity, little has been said about investing…
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Key takeaways Roth IRAs are individual retirement accounts that you contribute after-tax dollars to, making qualified withdrawals in retirement tax-free. If converting a traditional IRA to a Roth makes sense for you, open a Roth IRA, follow your plan administrator’s steps and then select the…
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Images by Getty Images; Illustration by Austin Courregé/Bankrate The process of debt repayment isn’t always a smooth one. While you probably hope you…
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For the fifth straight year, Forbes is partnering with market research firm Statista to rate insurance companies in the United States. But we…
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Hinterhaus Productions/Getty Images Key takeaways A mutual fund is an investment that allows individuals to pool their money along with other investors and invest in a collection of securities such as stocks and bonds. Most mutual funds invest in many securities, allowing investors to diversify their portfolios and reduce their…
Credit Sesame introduces 9 credit scores beyond the ones you see every day and explains how they might affect your financial life. Most people think they have one credit score, the number they check in a credit card app or a credit monitoring tool. In reality, there are many credit…
Your marginal tax rate is the highest income tax rate you’ll pay on your income. Because the U.S. has a progressive tax system, different tiers of your income are taxed at different rates. The marginal tax rate is the rate that applies to your last dollar of income. It’s important…
Key takeaways A high credit score and income are crucial to qualifying for the lowest rates on a personal loan. Improving your score before applying for a personal loan could help you secure a lower rate. Shopping for the best rates with at least three lenders or on a marketplace…
Image by PM Images/Getty Images; Illustration by Hunter Newton/Bankrate Mortgage rates moved down this week, with the 30-year fixed rate averaging 6.72 percent, compared to 6.79 percent the previous week, according to Bankrate’s latest lender survey. Current mortgage rates Loan type Current 4 weeks ago One year ago 52-week average…
Illustration by Hunter Newton/Bankrate Key takeaways The right of rescission allows homeowners to back out of certain refinance, home equity loan and HELOC contracts without losing money. You can exercise the right of rescission for three business days after signing an eligible contract. The right of rescission doesn’t apply to…
Image by GettyImages; Illustration by Bankrate An uneventful week for home equity rates. The average rate on a $30,000 home equity line of credit (HELOC) was unchanged at 8.27 percent, according to Bankrate’s national survey of lenders. The average rate on the $30,000 home equity loan also held steady at…
Photography by Getty Images; Illustration by Bankrate If you’re a big spender in certain categories, a rotating categories card can be a valuable one-hit wonder or addition to your wallet. You could earn one of the highest rewards rates out there, 5 percent, on automatic or customized categories that change…
Key takeaways When a home is sold, a HELOC must be paid off, along with any other debts secured by the property. Outstanding HELOC balances are typically settled during the closing, out of the sale proceeds. If the home sale proceeds are not enough to cover the HELOC and mortgage,…
Johner Images/Getty Images Key takeaways SPY is an index fund that tracks the S&P 500 Index. Investing in it provides exposure to about 500 of the largest U.S. companies. Investing in SPY offers instant diversification for your portfolio for a low fee, which is an attractive option for passive investors.…
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