Tools to Help You Reach Your Money Goals - Page 5

Millions of Americans receive access to retirement planning through their employer-sponsored 401(k) plans. Although a powerful tool to save for retirement, it’s easy to forget when you switch jobs or retire. Scores of 401(k) plans are forgotten by Americans, with Capitalize reporting over 29 million 401(k) accounts, worth $1.65 trillion in retirement assets, being left… Continue reading How to rollover 401(k)

Life is rarely predictable. Your car needs a major repair, or you have unplanned medical bills, and you need quick access to cash to avoid burdensome debt. An emergency fund is designed to cover unexpected expenses, ensuring you have the resources to handle surprise costs without financial strain. Setting aside additional money is crucial so… Continue reading Best banks for emergency funds: Expert guide on accounts

Financial planning involves preparing for a lot of “what if” questions. Because of recent banking trends, one of the questions you should think about is “what happens if my bank branch closes?” This is part of a broader trend in the banking industry, where the shift toward digital banking and the decline of physical branches… Continue reading What happens when a bank branch closes: Complete guide for customers

Whether you’re facing an unexpected expense or saving for a major milestone – like medical costs, home repairs, or a wedding – a personal loan can be a practical way to cover costs. In the U.S. banking system, personal loans are unsecured loans offered by banks, credit unions, or online lenders. Unlike secured loans that… Continue reading Is a personal loan right for you? Exploring the key benefits and disadvantages of a personal loan

In recent years, certificates of deposit (CDs) have offered a rare advantage. That advantage may be coming to an end, requiring a change in approach. A CD ladder strategy may be the answer. Since early 2023, 1-year CD rates have been higher than 5-year CD rates. Usually, long-term CD rates are higher than short-term CD… Continue reading What falling interest rates could mean for your CD ladder strategy

Saving for retirement is crucial for Americans who want to plan for their golden years. Fortunately, there are various tools you can use to plan for life after work, with individual retirement accounts (IRAs) being among the most popular. There are several types of IRAs, each with its own features and benefits, such as Traditional,… Continue reading Should you open an IRA with your bank?

Some people were born to work, and they’d be lost without the daily drive to achieve. Others enviously eye retirement and the freedom that comes from uncoupling from the constant stresses of work. People assume that only high earners or those with unique financial advantages can pursue the Financial Independence, Retire Early movement (FIRE), but… Continue reading Financial Independence, Retire Early (FIRE): How to save more money for early retirement

The Utah Educational Savings Plan (UESP), also known as my529, is a 27-year old nonprofit 529 educational savings plan. The state of Utah started this program in 1996 as its official and only 529 plan. It helps families save money for future qualified higher education expenses while offering valuable tax advantages. My529 is a direct-sold… Continue reading What is a my529 college savings plan?

How savings bonds work over time Understanding how savings bonds work over time can help you maximize your investment. Savings bonds are a form of government debt and are considered Treasury securities. Savings bonds are government-backed securities that help fund federal activities, are part of the U.S. savings program, and give citizens guaranteed returns. Types… Continue reading How much is a $100 savings bond worth after 30 years?

Step 1: Identify your bond type and status You need to know exactly what type of bonds you have and their current status before cashing in your savings bonds. The bond serial number is essential for identification and is required when using online calculators to determine your bond’s value. This step will give a clear… Continue reading How to cash in savings bonds: A step-by-step guide