Key Takeaways Individual retirement accounts (IRAs) have existed for over 50 years. Established as part of the 1974 Employee Retirement Income Security Act for workers without employer pensions, access was expan…
Category: Debt Guide
Car loans after bankruptcy are possible, but timing and loan terms depend on the type of bankruptcy and your financial situation. Many people assume they must wait years before purchasing a vehicle. In reality, you may qualify for a car loan after bank…
Key Takeaways Roughly 20% of Americans age 65+ are employed or self-employed. Baby boomers (born 1946-1964) are remaining in the workforce at higher rates than previous generations did at the same age. Reasons include personal choice (e.g., for s…
Many people accumulate at least some debt as they go through life. Unfortunately, if you have trouble paying off debt, high interest rates can make it snowball fairly quickly. When this happens, you might start comparing the benefits of debt consolidat…
Key Takeaways Older adults face more financial challenges and decisions than younger generations. Examples include Social Security claiming age, required minimum distributions (RMDs), Medicare enrollment, taxes on multiple income streams, long-te…
An unsecured loan might seem like a lifeline if you are trying to catch up on bills or deal with a surprise expense. This type of loan gives you access to funds without putting your home or car at risk in the event that you cannot pay back the loan.…
Credit card debt can feel like quicksand: The more you struggle, the deeper you sink. But if you follow the best credit card payment schedule for your situation, you can dig yourself out of debt and finally breathe easier. Choosing the right cred…
If juggling multiple credit card bills each month feels like a circus act, it might be time to consider a debt consolidation loan. This type of financing rolls your debts into one manageable monthly payment, potentially with lower debt consolidation in…
Wondering how to pay for college? Maximize your budget by following these six steps: Making a college education payment is one of the most bewildering budgeting challenges you can face. Between acceptance letters and tuition shock, figuring…
When debt feels overwhelming, it’s tempting to look at your 401(k) balance and think, “I could wipe this all away today.” After all, it’s your money. But should you actually use your 401(k) to pay off debt? The short answer is “probably not…