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.
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 alleviate some apprehension surrounding it. By assessing your finances, budgeting for expenses and taking your time as you enter retirement, you can enter your golden years with anticipation instead of dread. Here are the best tips to help you transition smoothly. You can also work with a financial advisor to help you create the right financial plan for your retirement goals. Read more
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 income is easier said than done. It only comes from legitimate opportunities with the potential for substantial returns. Dividends are a regular payout of your share of company profits when you own stock in a business and this type of investment can meet these requirements. Consider working with a financial advisor to help you determine how dividends might factor into your investment strategy. Read more
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 circumstances will influence their monthly payment differently. Still, it’s not impossible to estimate your payout from a $2 million annuity. For example, buying such an annuity at age 65 and receiving payments immediately could result in $10,000 monthly distributions for the rest of your life. To maximize payments coming from your portfolio, consider working with a financial advisor. Read more
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
Today’s red-hot housing market is challenging for many buyers to navigate. Rising interest rates, bidding wars and low housing supply can make purchasing a home more strenuous than usual. However,… Read more
Have you ever had questions about past damages to a car or home you’re interested in buying? Or maybe you’ve felt that your auto or home insurance premiums are higher than usual. In both cases, a… Read more
With multi-state tax filing, fixed retirement schedules and adjusting your finances to dynamics within aviation, airline pilots have more than their share of financial challenges. Besides dealing… Read more
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