Until recently, only career military personnel qualified for pensions. But everything changed in 2018. Thanks to the new blended retirement system, most service members qualify for some kind of benefit. But how does the new system work, and how does it affect lifers? Find out here.
Most IRS audits are not random. They’re triggered by red flags that indicate a potentially fault return, high odds of undisclosed income, or both. Learn what these triggers are and how to avoid them to prevent unwanted attention from good ol’ Uncle Sam.
Anyone who’s filed a tax return knows the U.S. tax system is complex and difficult to understand. Many say corporations, wealthy individuals, and special interest groups use loopholes to avoid paying their fair share. One idea for fixing the system is called FairTax. But would it really work?
Breaking New Year’s resolutions is so common it’s become a cliche. But the trouble with your resolution isn’t you. It’s the resolution itself. If you want to stick to your resolutions this year, shift your thinking. A SMART goal is a road map to help you finally keep your New Year’s resolution.
A 2019 study by Northwestern Mutual revealed some sobering statistics on consumer debt in America. It found that the average American adult has nearly $30,000 in debt, and that figure doesn’t even include mortgage debt. More shockingly, the study found that Americans spend over one-third of their income on debt repayment, on average. News stories about studies like
When you lend money to people you love, you put those relationships in jeopardy. But it’s hard to say no to someone who’s asking for your help out of a bind. This is tricky terrain to navigate, financially and personally. Before lending money to anyone you care about, take measures to reduce your financial risk
What’s the real difference between a need and a luxury? The answer is less than clear-cut. But there are several schools of thought to help you better define those terms for yourself and take control of your spending.
The self-made wealthy think differently about money, and it shows in the results they can achieve with it. Learn how the wealthy think about personal finances and investing and how you can adopt these mindsets to improve your finances and your life.
When your belongings are locked up in a box at the bank, you can only access them when the bank is open — which is a big problem for papers you might need to access in an emergency. And there are some physical valuables that, for one reason or another, are best stored elsewhere. So if you have a safe deposit box, here’s a rundown of what’s best to store and not to store in it. And if you don’t, here are some of the items that might make you consider getting one.
In the aftermath of the Great Recession, pundits loved to gripe about “homeowners using their homes as ATMs.” Sure, just because you can take out debt doesn’t mean you should. But not all debt is bad debt; debt is a tool you can use wisely or foolishly. And let’s be honest, sometimes homeowners find themselves cash-strapped
People often talk about Medicare as if it were a single plan that covered millions of Americans. In reality, it’s a highly complicated system with many different types of coverage. Once you understand your choices, it’s easier to find the one that’s right for you.
Because the market is in constant flux, many investors use fixed-income securities as a way to shield their portfolios from the significant declines that can result from market volatility. Learn more about fixed-income securities, how to analyze them, and how they fit into your investment strategy.
