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Nov 6, 2024 | 
marketwatch.com | Cassidy Horton |Jared Macarin
Ever wonder what it would be like to have a paycheck that never stops coming? That’s the basic idea behind a perpetuity — you receive a set amount of money forever. And with some annuities, the money will continue going to your beneficiaries if you die before it fully pays out. But true perpetuities are rare. In this article, we’ll explain what a perpetuity is, how it relates to annuities and how it could impact your future personal finances.
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Nov 6, 2024 | 
marketwatch.com | Laurie Sepulveda |Jared Macarin
If you no longer need your life insurance policy’s death benefit and want a lump sum payment now, selling your life insurance policy could net you more cash than surrendering, or canceling, it. That said, when you sell your policy, you get a smaller payout, you may owe taxes and you may have to consent to having your health tracked. In this article, we at the MarketWatch Guides team tell you how selling a life insurance policy works.
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Nov 4, 2024 | 
marketwatch.com | Adam Frankel |Jared Macarin
A fixed index annuity, which is sold by an insurance company, is a financial product that keeps your principal investment safe while allowing for growth tied to the performance of a market index, such as the S&P 500 or Nasdaq-100. That balance of safety and growth can make this type of annuity a low-risk way to guarantee retirement income.
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Oct 29, 2024 | 
marketwatch.com | David Rodeck |Jared Macarin
An immediate annuity is an insurance contract for retirement planning. You use an immediate annuity to turn your savings into future payments, including income that can last for the rest of your life. You can start receiving payments within a year, and sometimes as quickly as a month. By contrast, deferred annuities don’t start paying out until 12 months after purchase. Buying an annuity is a long-term decision of a complex financial product that comes with fees and other important considerations.
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Oct 29, 2024 | 
marketwatch.com | Lindsey Crossmier |Jared Macarin
When opening a certificate of deposit with a bank or credit union, you’ll select a term length, which could be a few months or several years. If you remove that money before the end of the CD term, you’ll usually pay an early withdrawal penalty that’s typically worth between 90 to 365 days of interest. In a 2024 MarketWatch Guides CD survey, 61% of 1,000 respondents said they didn’t take money from their CD before the term ended.
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Oct 29, 2024 | 
marketwatch.com | Laurie Sepulveda |Jared Macarin
Unlike immediate annuities, which start paying within a year, a deferred annuity can be purchased now, invested for years and used to provide guaranteed income in retirement. The sale of deferred annuities reached $83.7 billion, 16% higher than last year, according to the Life Insurance Marketing and Research Association.
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Oct 15, 2024 | 
marketwatch.com | Cassidy Horton |Jared Macarin
The thought of creating a family budget can be daunting, and research shows it’s a widespread concern. In a 2024 MarketWatch Guides banking survey, 66.2% of respondents said their families feel like they’re living paycheck to paycheck. In other studies, money fights are among the top three . Creating a family budget can help you break the paycheck-to-paycheck cycle and dial down your financial stress.
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Oct 15, 2024 | 
marketwatch.com | Adam Frankel |Jared Macarin
Creating a monthly spending plan doesn’t have to be complicated, and can be done in a few easy steps. A budget can be created in an app or with a simple spreadsheet. Anything that tracks your income and monthly expenses can work to monitor the flow of your money. Key Takeaways Knowing your salary and other potential income sources is a key part of creating a successful budget plan. Tracking and categorizing your spending habits is the next part so you don’t overspend.
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Oct 15, 2024 | 
marketwatch.com | Ashley Donohoe |Jared Macarin
Whether you need a bank account to receive paychecks, pay bills or transfer money to loved ones, a checking account may be the most basic option offered by the majority of credit unions and banks. Depending on the institution, you’ll likely need to pick from multiple accounts with different costs, benefits and requirements. In this article, we at the MarketWatch Guides team will detail eight common types of checking accounts.
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Oct 11, 2024 | 
marketwatch.com | Ashley Donohoe |Jared Macarin
Limited financial experience and a potentially lower income can make accomplishing money challenges in your 20s uniquely complex. However, this period for young adults can be crucial to becoming financially secure and working toward long-term goals, such as buying a home and getting a head start on retirement. In this article, we at the MarketWatch Guides team will show you how to save money in your 20s with tips on setting goals, monitoring plans and using credit wisely.
