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Ashley Chorpenning

Retirement, Investing and Budget Expert

Ashley Chorpenning is an experienced financial writer currently serving as an investment and insurance expert at SmartAsset. In addition to being a contributing writer at SmartAsset, she writes for solo entrepreneurs as well as for Fortune 500 companies. Ashley is a finance graduate of the University of Cincinnati. When she isn’t helping people understand their finances, you may find Ashley cage diving with great whites or on safari in South Africa.

Posts by Ashley Chorpenning:

by Ashley Chorpenning Sep 28, 2022

Like many other consumers, you probably use a checking account to manage your money and complete everyday transactions. But, too many purchases can exceed the total amount of funds in the account. If purchases exceed the balance, many banks charge an overdraft fee to cover the transactions. Then, it’s up to you to repay the bank for covering the charges plus the assessed fee. Fortunately, it’s possible to avoid overdraft fees at your bank. Here’s how. Banking is just one part of your finances. A financial advisor can help you create a financial plan for your needs and goals. Read more

by Ashley Chorpenning Sep 27, 2022

With inflation continuing to affect interest rates, homeowners looking for financial relief may turn to their mortgages to help their overall budget. Adjustable-rate mortgages can bring interest rates down to affordable levels for borrowers, making homeownership possible during financially challenging times. An adjustable-rate mortgage (ARM) comes with a lower initial mortgage payment that balloons after a specific period. Buying a house is a big financial decision and you may benefit from working with a financial advisor to help you make the right decision to accomplish your financial goals. Read more

by Ashley Chorpenning Sep 27, 2022

Building financial security for your family is achievable in numerous ways. For example, you could set up a trust, purchase real estate or create a 529 college fund. However, if you’re looking for a financial vehicle with guaranteed returns and a hefty lump sum payment for your beneficiaries, whole life insurance can be an effective investment. It provides you the ability to earn interest in a savings account and receive dividends. You can consult with a financial advisor to better understand how whole life might work for your unique financial situation. Read more

by Ashley Chorpenning Sep 22, 2022

After a long, successful career, letting go and heading into retirement might be harder than you think. While retirement looks different for everyone, creating a solid financial plan can help… Read more

by Ashley Chorpenning Sep 21, 2022

The premise of passive income is attractive because who wouldn’t want to sit back and watch their extra cash silently earn more money without doing any additional work? However, generating passive… Read more

by Ashley Chorpenning Sep 21, 2022

Annuities can be beneficial for retirees, especially those who plan ahead and want to avoid stock market risks. However, your payout amount can be challenging to calculate, and each person’s… Read more

by Ashley Chorpenning Sep 14, 2022

Saving for retirement is perhaps the most major financial goal every American has. But once you retire, you’ll need an adequate income to replace what you were making pre-retirement. As you might… Read more

by Ashley Chorpenning Sep 13, 2022

From buying your first home to creating college funds for children, everyone has aspirations that depend mainly on their financial capacity. While borrowing is an option for many households, saving… Read more

by Ashley Chorpenning Sep 13, 2022

If you’re the proud grandparent of a new baby in the family, the thought of preparing for their financial future may have occurred. In between moments of joy, your mind may have been several steps… Read more

by Ashley Chorpenning Sep 13, 2022

Opening an investment account can be a daunting task. Researching fee structures, account types and product features take time and can be perplexing. Plus, with so many companies offering investment… Read more

by Ashley Chorpenning Sep 07, 2022

Do you remember when you outgrew your piggy bank? It could have been because of a glut of birthday money or the unwieldy wad of cash after a summer of mowing lawns. No matter the case, children… Read more

by Ashley Chorpenning Sep 07, 2022

In 2021, Americans spent roughly $305 billion in interest and fees related to financial products like bank accounts, according to the Financial Health Network’s FinHealth Spend Report 2022. While… Read more

by Ashley Chorpenning Sep 07, 2022

Over the past few years, robo-advisors have emerged as viable alternatives to human financial advisors. However, instead of seeing this dynamic as a threat, some companies wasted no time… Read more

by Ashley Chorpenning Sep 06, 2022

There’s a lot of pride associated with owning property, whether it’s a primary home or a vacation bungalow. It’s especially rewarding when real estate is properly compensated for. But while a high… Read more

by Ashley Chorpenning Sep 06, 2022

When people think of their ideal nest egg, many aim for – or hope for – $1 million. They want a sufficient cushion to carry them and any loved ones through their golden years. However, that may not… Read more

by Ashley Chorpenning Sep 21, 2022

The individual investor services market is a hotly contested space – so how does a newfangled app like Robinhood compare? Between Gamestop meme stock mania issues and industry criticism, you might… Read more

by Ashley Chorpenning Aug 30, 2022

Investing to secure a comfortable retirement might not be a foreign concept for most people, but how to invest isn’t as clear. With more asset variety and investment services in the market than ever,… Read more

by Ashley Chorpenning Aug 30, 2022

Taxes can be complicated and frustrating to many people. Not only is there a risk of not filing them correctly, but many miss out on strategies that can save them money. Fortunately, Certified Public… Read more

by Ashley Chorpenning Aug 30, 2022

If you own any property at all, you probably know about estate planning. You can decide what happens to your assets after you die, of course. But sometimes, people don’t pen a will or trust before… Read more

by Ashley Chorpenning Sep 01, 2022

Adherents of the Financial Independence/Retire Early (FIRE) movement aim to reach a point where they don’t need ongoing income to retire and to get to that point before reaching age 65. Not… Read more

by Ashley Chorpenning Aug 23, 2022

Savvy investors are always looking for ways to diversify and strengthen their portfolios. However, finding profitable investments can be particularly challenging when the economy experiences… Read more

by Ashley Chorpenning Aug 23, 2022

Fixed-rate mortgages finance the majority of homes across the country, allowing homeowners to make unchanging monthly payments until they repay the loan. However, fixed-rate mortgages can have… Read more

by Ashley Chorpenning Aug 23, 2022

Loan products such as 5/1 adjustable rate mortgages give borrowers reduced interest rates for five years, giving homeowners some much-needed breathing room. This can help, especially as mortgage… Read more

by Ashley Chorpenning Aug 17, 2022

Property law can be complex and arcane, even for lawyers and judges. The rule against perpetuities is an example of how older property laws can influence how families transfer and inherit property… Read more

by Ashley Chorpenning Aug 17, 2022

Almost everyone has at least one of the two ends in mind when they invest money: retirement or taking care of family. While it may appear that you have to address those priorities separately, a ULIP… Read more