My wife has a Roth IRA, and we want to use it to help pay for our daughter's college tuition. I hope this information is useful to you.
My wife has a Roth IRA, and we want to use it to help pay for our daughter's college tuition. I hope this information is useful to you.
It's reasonable to wonder if and how climate change might one day affect your home insurance. But don't expect enlightenment from America's property and casualty insurance industry, which has remained tight-lipped on the topic thus far, at least in public. "They're making a political decision that they don't have anything to gain by joining into the debate on climate change," says Peter Kochenburger, insurance law professor at the University of Connecticut. Frank Nutter, president of the Reinsurance Association of America, a Washington, D.C.-based trade group that represents global firms that insure insurance companies, says there's a perfectly valid reason why property insurers are hesitant to weigh in.
It's the million-dollar question: What investments should retirees own to avoid running out of money in retirement? Bankrate ran the numbers and came up with some general answers about the best retirement funds for the duration. We tested six $1 million retirement portfolios over two time periods.
Not only is it valid, but the balance has been going up at a fixed interest rate per year since 2007. The interest rate could vary from state to state. Your employer could begin garnishing wages in less than two months from the date of this letter.
What happens to life insurance policies from previous jobs after you've left those employers? Group life insurance is a nice fringe benefit that many employers provide their employees. However, when you depart a job with group life insurance, you must be given the option to convert all or part of your coverage to a personally owned life insurance policy. To ask a question of the Insurance Adviser, go to the"Ask the Experts" page and select "Insurance" from the drop-down box.
TaxesTax Deductions Maximizing Your Medical Deductions The Internal Revenue Service lets you deduct medical costs on your tax return as long as they are more than 10 percent of your adjusted gross income. Don't overlook the medical expenses of everyone listed on your tax return. You might be able to count some medical expenses you paid for a parent, even if Mom or Dad isn't considered your dependent for exemption purposes.
If life were a race to accumulate assets and savings, the winners would be crowned in retirement. Compared with all other age groups, the 65-and-older crowd has the dubious distinction of having the most pronounced income gap, according to a Bankrate analysis of a measurement of income inequality known as the "Gini Index." What's behind the vast retirement income gap between rich and poor? But research shows that the inequality in retirement income is more than just a function of the zeal with which one saves.
Investors tend to subscribe to one of two theories about the stock market: You can beat it, or you cannot. These polar-opposite beliefs are fostered by Eugene Fama and Robert Shiller, who along with Lars Peter Hansen, shared the Nobel Prize in economics last year for their work on asset prices. On one side of the ring is Fama, a University of Chicago academic who won the prize for his so-called efficient market hypothesis. On the other side of the ring is Shiller, a Yale University academic who shared the 2013 Nobel Prize in economics for his take on asset prices.
Is the golden age of retirement ahead, or do Americans need more help preparing for their retirements? Pensions are disappearing, and if something isn't done, Social Security -- one leg of the retirement system -- might not be able to pay 100 percent of scheduled benefits after 2037. That leaves retirement accounts and private savings as the remaining pillars of the golden years. Individuals are on their own as they save for retirement;
Retirement Retirement Income Gap By The Numbers The retirement-aged generation, people over age 65, has the widest income disparity of any age group. While there are many incredibly wealthy senior citizens, ...
Estate planning professor Connie Fontaine taught me that assets are distributed at death, either because of a will, contract or force of law. Your father's estate was likely settled decades ago.
If you have a spouse or young children, chances are good you at least have considered buying a policy. For those who are single -- or whose children have left the nest -- life insurance often is an afterthought. However, everyone can benefit from buying life insurance, says Wayne A. Hollman, academic department chair, quantitative methods for the Forbes School of Business at Ashford University in San Diego. There are significant differences among life insurance options, and knowing your overall financial goals and objectives is crucial to choosing well, Hollman says.
And it's likely to stay that way, according to a Bankrate survey of two dozen of the nation's top economists. The red line on the left shows the movement of the unemployment rate over the previous 12 months, and the blue boxes on the right indicate the predictions of the economists in the survey for where the jobless rate will be in one year. The size of each box reflects the popularity of that response among the economists. This first-ever quarterly survey by Bankrate finds that the experts generally expect the unemployment rate to fall over the next year, but the panel also looks for meager hiring during the same period, with fewer than 200,000 jobs created per month, on average.
I just took it in for its first oil change at the dealer and it was way more expensive than I had been paying for my previous car when I brought it to an oil change shop. Indeed, you can service your car anywhere you choose, including doing it yourself, but you should be prepared to provide documentation that the car was serviced per the recommendations in the owner's manual should you have a warranty claim. While the Federal Trade Commission prohibits a car manufacturer from voiding a warranty because service was not performed at the dealership, it can deny warranty coverage in a case where a customer has been neglectful. Keeping a paper trail of all the work done on your car regardless of where it was performed will help if there is a question about a warranty claim.
I currently have about $12,000 in credit card debt and owe about $48,000 on my mortgage. At the same time, I have just applied for Social Security benefits. My wife is already collecting her Social Security. Well, since your credit isn't good, I'd definitely recommend that you pay down the $12,000 in credit card balances.
Thanks to tax preparation software, more of us are making fewer mistakes on our annual tax returns. Tax changes also complicate the annual tax filing exercise. The most common error on tax returns, year after year, is bad math. Math mistakes also can reduce your tax refund or result in you owing more tax than you thought.
Planning on making a contribution to an IRA for the 2013 tax year? Better act fast because the IRA contribution window will be closing soon.
Interest Rate Roundup Mortgages CDs Auto Loans Home Equity Credit Cards Find the best mortgage rates in your area. Mortgages 4.45% (30-year fixed) 0.36 (average points) Mortgage rates edged down this week ...
For buyers unable to make a down payment of at least 20 percent of their home's purchase price, one of those costs is private mortgage insurance, or PMI. Now, however, some PMI payers can at least use those insurance payments as a tax deduction when they file their returns. This tax deduction was created as part of the Tax Relief and Health Care Act of 2006 and originally applied to private mortgage insurance policies issued in 2007. The private mortgage insurance deduction can be taken for policies issued by private insurers as well as insurance provided by the Federal Housing Administration, the Department of Veterans Affairs and the Department of Agriculture's Rural Housing Service.
Dear Debt Adviser, I have about $12,000 in credit card debt. I am about to lose my job, and I have no idea how I will continue to pay my creditors. Meanwhile, my husband has an extreme amount of debt in ...
During school vacations, many parents turn to these supervised programs to provide child care while they work. Overnight camps don't count, but the Internal Revenue Service says day camp expenses do qualify for this popular credit. Regardless of whether you paid for after-class child care during the school year or a week of day camp during summer break, you can apply the costs to the child and dependent care tax credit and use it to cut your tax bill at filing time. In these cases, if the costs of school are separate from child care expenses, only the child care portion qualifies.
Interest Rate Roundup Mortgages CDs Auto Loans Home Equity Credit Cards Compare CD rates nationally and in your area. CDs 0.23% (1-year CD yields) 0.8% (5-year CD yields) Rates on certificates of deposit ...
Will rates go up, down or remain unchanged? Intro Up 0% Down 40% Unchanged 60% Panel Prediction Up Down Unchanged 0% 71% 29% This week (March 6-12), none of the panelists believe mortgage rates will rise ...
Interest Rate Roundup Mortgages CDs Auto Loans Home Equity Credit Cards Find the best home equity rates in your area. Home Equity 5.07% (line of credit) 6.22% (loan) Rates on loans backed by home equity ...
Mortgage rates remained more or less stable this week as fears over the crisis in Ukraine eased and markets rebounded. But this quiet trend could change when the next employment report comes out this week, or at the next Fed meeting. The benchmark 5/1 adjustable-rate mortgage fell to 3.26 percent from 3.3 percent.
Interest Rate Roundup Mortgages CDs Auto Loans Home Equity Credit Cards Find the best credit card offers available. Credit Cards 13.02% (all fixed) 15.38% (all variable) Credit card rates stayed steady ...
Interest Rate Roundup Mortgages CDs Auto Loans Home Equity Credit Cards Find the best auto rates in your area. Auto Loans 4.2% (60-month, new car) 4.71% (36-month, used car) Rates on new and used car loans ...
Previous 1 of 12 Next The 10 oldest hotels in America To be considered one of the Historic Hotels of America, a program of the National Trust for Historic Preservation, a property must be at least 50 years ...
She plans to retire at 56, and will not be eligible to access the 403(b) contributions for 3 1/2 years after retirement without incurring a tax penalty. We are in the top tax bracket now, but expect to be in a lower tax bracket by the time she retires. If you're going to be in a lower tax bracket in retirement -- and most people will be -- then it makes sense to take full advantage of any plan that gives you an upfront deduction, whether or not you're getting a match. If you're in the top federal tax bracket, every dollar your wife contributes reduces your taxes by nearly 40 cents.
I own two houses with mortgages, and my wife owns a house, also with a mortgage. Is there any way to deduct the mortgage interest on three houses? Congratulations, and welcome to the world of filing taxes as a married person where the rules are somewhat different. When you filed your taxes as a single person, you were able to deduct mortgage interest on your main home and a second home.
With interest rates on the uptick, adjustable-rate mortgages, or ARMs, appeal to more borrowers. It's too late to grab a fixed mortgage rate of less than 4 percent, but an ARM offers that possibility -- temporarily. While the prospect of a lower interest rate, at least initially, is alluring, you should also consider other factors before making your choice. With an ARM, you get the benefit of a lower initial rate for a few years before the interest rate changes, typically going higher.
Investing 6 Common Investment Strategies Of Fund Managers The criteria that mutual fund managers use to select their assets vary widely according to the individual manager. So when choosing a fund, you ...
"So much of our identity is caught up in our job title, the company that we work for and our business card," says Joan Strewler-Carter, a certified retirement coach and co-founder of Life Options Institute and WhatsNextInYourLife.com, an online lifestyle resource for people older than 50. Many people begin to pursue lifetime dreams in retirement, and this becomes their new identity. For instance, Bruce and Sandie Tanner left Greenville, Ohio, more than 20 years ago and founded the Tanner Romania Mission in Nicoresti, Romania, which is now home to more than 21 disabled, orphaned children. We have never regretted our move," says Sandie Tanner.
I had a loan from a credit union for my car and had auto insurance. Four months later, the credit union contacted me to tell me I missed a payment. The missed payment showed up on my credit report. After that, I was turned down for student loans.
At 75 years old and because I have little need today for credit cards or large amounts of credit, I would like to close my credit card accounts, but do not want my FICO score to be lowered. Are there any protections for the elderly who want to protect themselves from hackers, crooks or even family members who use a parent's or grandparent's credit card without permission? I have had two credit cards compromised this past year and do not want to see it happen again. How closing your credit cards affects your credit score largely depends on whether you have other active credit accounts, such as a mortgage or auto loan.