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Jan 3, 2025 | 
bankrate.com | James Royal |Mercedes Barba
If you’re working and already saving for retirement or plan to start socking away money soon, investing in a 401(k) plan can help you build a sizable nest egg. If you’re thinking about signing up for a 401(k), or simply want to know more about how to take full advantage of this type of retirement savings vehicle, here’s everything you need to know. What is a 401(k) plan and how does it work?
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Nov 15, 2024 | 
bankrate.com | James Royal |Mercedes Barba
A 529 plan gives consumers a tax-advantaged way to pay for education, and that’s a boon for parents and other family members who want to save for a child’s schooling. A 529 plan offers several other benefits, including the ability to invest with potentially high-return assets such as stock funds, instead of being limited to low-return bank accounts.
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Oct 17, 2024 | 
bankrate.com | James Royal |Mercedes Barba |Rachel Christian
Yes, it’s possible to avoid paying taxes on your Social Security income, but it requires some careful maneuvering. While avoiding taxes on your monthly benefit check may sound like a good thing, retirees and other beneficiaries may want to think twice before trying to make it happen. Here’s how the experts say you can avoid taxes on Social Security, why you might not want to and what taxes you may end up paying on your monthly benefit check.
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Oct 17, 2024 | 
bankrate.com | James Royal |Mercedes Barba |Rachel Christian
Social Security is a program run by the federal government that provides income for a wide range of Americans, including retirees, people with disabilities and families with a deceased spouse or parent. As of 2024, 72.5 million Americans received a monthly benefit check from Social Security, of which 51.3 million were retirees, according to the Social Security Administration. Additionally, as of June 30, 2024, nearly 9 in 10 people aged 65 and over were receiving a benefit check, retired or not.
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Oct 3, 2024 | 
bankrate.com | Rachel Christian |Mercedes Barba
Major life events often come with major financial decisions. A new job is cause for celebration, but how will the switch impact your plans for retirement? Should you make contributions to a traditional 401(k) at your new job or try out the Roth 401(k) option instead? These answers aren’t always obvious, but thankfully, you don’t have to figure it out alone. A financial advisor is an expert who can help you create a financial road map custom-made for all the things that make your situation unique.
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Oct 2, 2024 | 
bankrate.com | James Royal |Kenneth Chavis IV |Mercedes Barba
When it comes to investing in mutual funds or exchange-traded funds (ETFs), one of the most important factors to consider and understand is the expense ratio. An expense ratio measures how much you’ll pay over the course of a year to own a fund. A high expense ratio can significantly impact your returns, and it pays for things like the management of the fund, marketing, advertising and any other costs associated with running the fund. Both mutual funds and ETFs charge an expense ratio.
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Oct 1, 2024 | 
bankrate.com | Rob Johnson |James Royal |Mercedes Barba
As of October 01, 2024If you’re looking for a top broker for options trading, you’ll want to consider some of the major players in the industry. While these brokers have slashed their commissions for stock and ETF trades to zero, many still charge a per-contract fee for options, so discount lovers may be on the lookout for a lower price while balancing cost against a broker’s other features.
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Sep 30, 2024 | 
bankrate.com | James Royal |Mercedes Barba
As of October 01, 2024If you’re looking to actively trade the markets, you’ll probably want to pay more attention to your broker’s trading platform. Unlike buy-and-hold investors who don’t need to get the best price every time out, active or short-term traders live and die by their ability to get a low price. So that’s why finding a broker with a top trading platform can be so important.
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Sep 18, 2024 | 
bankrate.com | Roger Wohlner |Mercedes Barba |Rachel Christian
Our writers and editors used an in-house natural language generation platform to assist with portions of this article, allowing them to focus on adding information that is uniquely helpful. The article was reviewed, fact-checked and edited by our editorial staff prior to publication. An annuity is a contract issued by an insurance company that pays a stream of income for a specified period or often for the remaining life of the contract holder.
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Sep 17, 2024 | 
bankrate.com | Brian Baker |Mercedes Barba
Robo-advisors are a great option for investors who are looking to automate the investment management process at a cost below that of traditional financial advisors. But sometimes you just need to talk to a human being. Fortunately, there are robo-advisors that offer this option, including some that offer access to certified financial planners (CFPs). Here’s what else you should know about robo-advisors and the ones that offer a human advisor option. What is a robo-advisor?
