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1 month ago | 
bankrate.com | James Royal |Brian Beers |Rob Johnson |Dayana Yochim
401(k) plans typically offer 10 or more investment options, including stock, bond and target-date mutual funds. Performance history (i.e., long-term investment returns) and management costs are key factors for assessing your options. Savers who want to custom-build a portfolio within the plan need to consider their goals, time horizon, risk tolerance and willingness to monitor the investment mix over time. A target-date fund is a hands-off, set-and-forget investment option.
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1 month ago | 
bankrate.com | James Royal |Rob Johnson |Johna Strickland |Brian Baker
More than half of Americans feel they just aren’t saving enough for retirement, according to a 2024 Bankrate survey. But for those who have fallen behind, it’s always a great time to examine your 401(k) plan and get moving on ways to set you up for greater wealth and financial security in your golden years. A 401(k) is an employer-sponsored account that allows you to defer the taxes on your investments until retirement, meaning you can roll up more money faster.
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2 months ago | 
bankrate.com | Erik Martin |Michele Petry |Rob Johnson
Title insurance offers protection from problems with a property’s title, including liens, ownership disputes and encroachments. There are two types: a mandatory lender’s policy, whose cost is based on the mortgage amount, and an optional owner’s policy, whose cost is based on the home’s price. The cost is a one-time upfront charge, but the insurance lasts throughout your ownership of the home. For many people, a home is the biggest thing they’ll ever buy.
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Nov 1, 2024 | 
bankrate.com | Rob Johnson |James Royal |Brian Baker
As of November 01, 2024If you’re looking to invest money for the short term, you’re probably searching for a safe place to stash cash before you need to access it in the not-so-distant future. The good news is that interest rates remain high following the Federal Reserve’s recent attempts to bring down inflation, and many short-term investments offer solid yields. Short-term investments minimize risk, but at the cost of potentially higher returns available in the best long-term investments.
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Oct 31, 2024 | 
bankrate.com | Matthew Goldberg |Rob Johnson |Karen Bennett
The average savings account rate is a benchmark for the overall interest-rate environment, but it’s not a rate you should settle for. Rather, aim for an annual percentage yield (APY) many times the national average, such as those offered by high-yield savings accounts. It’s easy to find a high-yield savings account that offers a competitive return with a no or low minimum balance requirement.
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Oct 24, 2024 | 
bankrate.com | James Royal |Brian Beers |Rob Johnson
Are you looking to double your money? Even with interest rates higher than in past years, it’s hard to use a bank account to make a significant amount of money. In order for investors to double, or even triple, their money, they’ll often have to take on some risk for that potential reward. To achieve this level of returns over time, there are a number of options that come with limited risk.
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Oct 23, 2024 | 
bankrate.com | James Royal |Brian Beers |Rob Johnson
Standard & Poor’s 500 index funds are among today’s most popular investments — and it’s little wonder why. The S&P 500 index, on which these funds are based, has returned an average of about 10 percent annually over time and represents hundreds of America’s best companies. With an S&P 500 index fund, you own the market instead of trying to beat it. In fact, legendary investor Warren Buffett has long advised investors to buy and hold an S&P 500 index fund.
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Oct 18, 2024 | 
bankrate.com | James Royal |Brian Beers |Rob Johnson
As competition among stock brokers has heated up, online players have rushed to provide new features to their clients, including being able to invest in fractions of a share. This feature allows investors to purchase a stock or ETF with almost any amount of money rather than needing to have enough cash to buy a full share. It’s perfect for high-priced bellwether stocks such as Alphabet and Amazon. The ability to buy fractional shares is attractive, especially for investors just starting out.
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Oct 7, 2024 | 
bankrate.com | Rene Bennett |Cindy Perman |Rob Johnson |Allison Martin
A home budget is a written plan that details your household income, expenses and financial goals. Consider using a spreadsheet or budgeting app to simplify the process. Check in on your budget regularly and make adjustments as needed to help you stay on track to achieve your financial goals. A home budget helps you keep your spending in check by tracking all sources of income and all expenses.
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Oct 1, 2024 | 
bankrate.com | James Royal |Rob Johnson |Lisa Dammeyer
Maybe you want to purchase mutual funds to plan for your retirement or another big goal. But deciding which online platform is best for mutual fund investments can be confusing. First things first: Personal finance experts recommend buying the funds directly from the mutual fund company rather than through a brokerage account to save money on fees. Alternatively, opening a brokerage account with a mutual fund company can also keep costs low.
